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Ford recalling 390,000 cars over door latch woes

Ford is recalling certain Fiesta, Fusion and Lincoln MKZ vehicles due to faulty door latches, marking the latest in what seems to be a recurring issue for the Blue Oval. This is the third door latch recall from Ford in 2015, following a 213,000-unit recall in March and a 205,000-unit recall in January. This one, however, is significantly larger. A total of 390,000 units are affected, including Fusions and MKZs from model years 2013 and 2014, as well as Fiestas from model years 2012 to 2014. A "broken pawl spring tab" is the culprit, potentially keeping doors from latching shut. According to Ford, even if the door does shut, it could come open again without warning. The affected Fiestas were built between February 1, 2012 and May 31, 2013 at the Cuautitlan, Mexico factory. The Fusion and MKZ siblings, meanwhile, were screwed together at Hermosillo Assembly in Mexico between July 1, 2012 to May 31, 2013. Ford is aware of three minor reports of door malfunctions. In two cases, the door bounced back open, quite literally hitting drivers on their way out. In the third case, a door swung open of its own accord while a driver was attempting to park, hitting another vehicle. Ford will notify owners, who will need to report into dealers to have all four latches replaced. Scroll down for the official press release. Related Video: APR 24, 2015 | DEARBORN, MICH. FORD MOTOR COMPANY ISSUES SAFETY RECALL IN NORTH AMERICA FOR DOOR LATCH ISSUE ON FORD FIESTA AND FUSION, LINCOLN MKZ Ford Motor Company is issuing a safety recall for approximately 390,000 2012-2014 Ford Fiesta and 2013-2014 Ford Fusion and Lincoln MKZ vehicles for a door latch issue. The door latch in these vehicles may experience a broken pawl spring tab, which typically results in a condition where the door will not latch. If a customer is then able to latch the door, there is potential the door may unlatch while driving, increasing the risk of injury. Ford is aware of two allegations of soreness resulting from an unlatched door bouncing back when the customer attempted to close it, and one accident allegation when an unlatched door swung open and struck an adjacent vehicle as the driver was pulling into a parking space. Affected vehicles include certain 2012-2014 Ford Fiesta vehicles built at Cuautitlan Assembly Plant, Feb.

Buy Ford and GM stock and make 5%

Want to make a five-percent return when 10-year treasuries are paying around two percent? Ford (F) and General Motors (GM) have solid balance sheets, strong cash flow, solid earnings, and growing markets. By all accounts, they are smart investments. But the market is down on these stocks. Why? Some of the stupid excuses include: They are cyclical companies The Detroit 3 have lost 3.5 million in sales since 2000 The world economy is shaky GM recently filed for bankruptcy Their markets have peaked They haven't changed their ways Let's take these criticisms one by one: They Are Cyclical Companies Yes, they are cyclical. Every company is cyclical. Every industry is cyclical. Some more than others, but not every company is immune from swings in the market. Banks used to be 'non-cyclical' leader, not anymore. Airline stocks are just as cyclical as auto stocks, yet they are trading at multiples greater than the auto industry. Why? And what accounts for the irrational stock price for Tesla (TSLA)? At least Ford (F) and General Motors (GM) make money and have positive cash flows. In fact, both companies have a net positive cash position. They have more cash on hand than liabilities. Auto sales in the United States hit a record 17.5 million vehicles in 2015. During the Great Recession, Ford (F) and General Motors (GM) cut their break even points to 10 million vehicles per year. Anything above an annual U.S. volume of 10 million vehicles is profit. And what a profit they make. Sales of Ford's F-150 continues to be the best-selling vehicle in the United States for over 30 years. Detroit 3 Have Lost 3.5 million in Sales Since 2000 Automotive News reports General Motors (GM), Ford (F) and Chrysler (FCA) have lost a combined 3.5 million vehicles sales since 2000. So how can they be making more money? Two big reasons – Fleet Sales and the UAW. Fleet Sales The Detroit 3 used to own car rental companies to keep their factories running. Ford owned Hertz (HTZ), General Motors owned all of National Car Rental and 29 percent of Avis, and Chrysler, the forerunner to Fiat Chrysler (FCA), used to own Thrifty Car Rental and Dollar Rent-A-Car. The Detroit 3 owned these rental companies to have a place to sell their bad product and keep their factories running. These were low margin sales, and in many cases, were money losers for the Detroit 3. They no longer own auto rental companies.

1964 Ford GT40 prototype to be auctioned in April

The Ford GT40 owns a firm spot on the list of the greatest American racecars ever made, being the first car from the United States to take an overall win in the 24 Hours of Le Mans. And now Mecum will auction what it claims is second-oldest GT40 still in existence at its Houston sale on April 12.
The story of the GT40 is fascinating. Henry Ford II attempted to buy Ferrari in the early '60s, but Enzo refused. Ford decided if he couldn't have them, then he would beat the Prancing Horse on the track. Ford went to Carroll Shelby and asked him to spearhead the program. The early cars combined a steel monocoque chassis with Ford's 4.2-liter V8 engine pumping out around 350 horsepower. The first prototype made its public debuted on April 1, 1964, at the New York Auto Show.
Shelby kept building prototypes, including GT/104, which is for sale here. This version featured a lighter steel chassis and was raced at Le Mans in 1964. However, a fire forced it to retire. It was then repainted and had a 4.7-liter (289-cubic-inch) engine fitted. The chassis had its best finish at the 1965 Daytona Continental 2,000 Kilometers where it finished third with Bob Bondurant and Ritchie Ginther behind the wheel. Later that season, it was shipped back to Ford where it was restored and displayed at auto shows until 1971 when the automaker sold it. Since then, it has had many private owners.