2018-2022 Ford Safety Recall Triggers $5 Billion Share Sell-Off as Steering Flaw Emerges
Ford's largest active safety recall has escalated into a market crisis, wiping $5 billion from the automaker's market cap after internal documents revealed a steering defect in 2.3 million 2018-2022 models may cause total loss of control at highway speeds. The National Highway Traffic Safety Administration is now investigating whether Ford failed to disclose the flaw for 18 months, prompting a cascade of class-action lawsuits from fleet operators and rental car giants. CEO Jim Farley is facing an emergency board meeting today as dealer lots flood with unsellable inventory and repair parts remain backordered until Q4. Wall Street analysts are downgrading Ford's stock, warning that the recall's total cost could exceed $8 billion if a mandatory buyback is imposed.