Ford Says It Needs To Correct Driveshaft Issue In Transit Vans Made In 2015-2017

By Ciara Linnane Markets MarketWatch Pulse

Ford Motor Co. said Wednesday it is conducting a field service action to correct a driveshaft issue in transit vans made in 2015 through 2017. The company did not specify how many vehicles may be affected. It said it expects the action to cost $142 million at its North America business unit. Any impact on the company's guidance for pre-tax profit will be provided with earnings for the second quarter scheduled for release July 26. Shares were flat in premarket trade, but are down 9% in 2017 so far, while the S&P 500 has gained about 8%.

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