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Giant Ford F-Series Truck Recall to Cost $267 Million

Giant Ford F-Series Truck Recall to Cost $267 Million

Thankfully, Ford hasn't heard of any related accidents or injuries so far.

The Associated Press reports that a frozen door latch or bent cable in the affected vehicles could cause the door not to open or close.

Customers will be notified by letter to let them know they are part of the recall beginning the week of November 13.

Ford dealerships will install water shields and make any repairs that are necessary free of charge to customers.

Through the first nine months of 2017 the Ford F-Series was the top-selling vehicle in the USA with sales of more than 658,636 trucks, a 10.6 percent jump compared with the same period a year ago, according to industry research firm Autodata Corp. The company initially alerted dealers in 2015 about the issue. The Ford reference number for this recall is 17S33.

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Ford's stock traded higher at the time the announcement was made. The second-largest US automaker also said its full-year adjusted earnings per share will still be in the range of $1.65 to $1.85 a share.

Ford Motor Co. said it will recall 1.3 million recent model year F-Series trucks in a move that will cost the automaker $267 million.

The latch could open while the truck is moving, and/or prevent the driver from opening the door as needed.

Ford shares fell 0.7 percent to $12.19 in late trading Wednesday.