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Ford recalls 462,000 SUVs over faulty rear camera

Ford has had some issues with its backup cameras in recent years, and the troubles are continuing with yet another recall announced today. In this recall, certain Ford and Lincoln vehicles equipped with the 360-degree parking camera could lose the rear-view camera feed. The newest recall affects some 462,000 vehicles worldwide, Reuters reports, including 382,759 in the U.S. under NHTSA recall 23V-022. The recall applies to the 2020-2023 Ford Explorer and Lincoln Aviator, as well as the 2020-2022 Lincoln Corsair. The remedy involves dealers updating the vehicles’ image processing module software free of charge. This latest issue expands a previous recall, and applies to vehicles that have already been serviced under recall 21V-735. Owners will be notified by mail around February 20, and owners can also contact Ford customer service at 1-866-436-7332. Ford told NHTSA that it first became aware in October 2021 of a small number of complaints of a blue screen from the rear camera feed on vehicles that had already been repaired. Ford worked with suppliers to track down the potential issue, and said warranty claims remained low until December 2022, when it started to see more claims for blue screens in vehicles produced after the last remedy, at which point Ford ordered a stop-ship on those vehicle lines. Ford said itÂ’s aware of 17 minor accident reports related to the issue, but no injuries. In addition to this recall, Ford has had other camera issues in the past few years that resulted in recalls. NHTSA recall 22V-151 applied to 2021-2022 Edge SUVs experiencing “a distorted, black and white, or discolored screen” when reversing. 2021-2022 Ford Broncos had an issue where the rear-view camera would remain on even after the vehicle was put back into a forward gear. Last year, Ford recalled 330,000 Mustangs for faulty cameras, as well as 277,000 Super Duty trucks over foggy rear-view cameras. In 2021, NHTSA opened an investigation into whether Ford was slow to recall more than 620,000 vehicles for faulty cameras. Recalls Ford Lincoln Safety Crossover SUV

Detroit Three's lucrative pickup war intensifies as Ram makes big gains

DETROIT — The battle for profits from sales of large pickup trucks is intensifying among the Detroit Three automakers as sales of small cars in the United States shrivel. For decades Ford has had the single best-selling truck brand in its F-Series trucks. General Motors' Chevrolet brand was a solid No. 2, and Fiat Chrysler Automobiles' Ram was a distant third. Now, that hierarchy may be in flux. Sales figures for December and the fourth quarter released on Thursday show Ram tied with GM's Chevy for the No. 2 spot, as sales of the redesigned Ram pickup surged, fueled in part by demand for an optional 12-inch (30.48 cm) dashboard screen. Chevy not long ago held second place to Ford by a wide margin. GM executives said on Thursday they are bullish on their new GMC and Chevy trucks for 2019.Related: How the Detroit Three's pickups compare on paper 2019 Ram 1500 Laramie review 2019 Chevy Silverado 2.7L four-cylinder review 2019 Ford F-150 2.7L EcoBoost review "There's no doubt this segment (pickup trucks) is one of the epicenters of the auto wars," said Sandor Piszar, director of marketing for Chevrolet at GM. "It's been that way forever, and we wouldn't have it any other way." On Wall Street, investors give electric car leader Tesla a higher valuation than any of the Detroit automakers. But in the nation's heartland, big pickups remain far more popular and profitable than any electric car — and most other consumer vehicles of any kind. Large pickups generate at least $17,000 a vehicle in pretax profit for GM, the company has indicated in disclosures to investors. By contrast, many Detroit Three sedans are so unprofitable, their manufacturers have decided not to build them anymore. 'Hotly contested' Sustaining sales and pricing in the large-pickup segment will be critical in a year when most forecasters expect overall U.S. car and light truck sales to fall. Ford's U.S. sales chief, Mark LaNeve, on Thursday called the F Series "the backbone of our franchise" during a conference call, and added the "segment will continue to be strong, but hotly contested" in 2019. Automakers are banking on pickup truck sales to stay strong even if U.S. interest rates continue to rise. Rising interest rates translate into higher monthly car payments and are expected to deter some buyers in 2019. GM has said 27 percent of Chevrolet and GMC trucks — which can haul trailers by day and substitute for a luxury sedan by night — sell for more than $55,000.

EU formally questions French government assistance of Peugeot's finance arm

Recently, the finance arm of PSA/Peugeot-Citroën was in such debt trouble that it was pricing itself out of the car loan market. The rates it was paying to service its debt, which was rated one step above junk, were so high that it was forced to charge car-buying customers higher rates than they could find elsewhere. This was adding to Peugeot's already impressive woes by sending revenue out the door to competitors.
Two months ago a deal was worked out with the French government whereby the state would provide 7 billion euro ($9 billion USD) in bonds to guarantee the finance arm's loans. The French government could nominate someone to join the Peugeot board, Peugeot would guarantee more French jobs, and on top of that deal, other banks would provide non-guaranteed loans. The government would take no equity stake in the car company.
Although not yet finalized, the arrangement is meant to create some breathing room for Peugeot Finance to lower its interest rates for customers, and a government-nominated board member, Louis Gallois, was recently named to Peugeot's supervisory board. The arrangement was also openly questioned by at least three competitors: Ford, Renault - which is 15-percent owned by the French government after it received state aid - and the German state of Lower Saxony, itself a 15-percent shareholder in Volkswagen.