Core Points - Ford Motor Company is recalling over 850,000 units due to low-pressure fuel pumps that may fail, potentially leading to engine stalls while driving [1][2] - The National Highway Traffic Safety Administration (NHTSA) has indicated that the fuel pump issue increases the risk of a crash, and a remedy is currently under development [2][3] - Ford has noted that fuel pump failures are more likely to occur in warm weather and under hot fuel conditions, with signs of imminent failure including poor engine performance [3] Affected Vehicles - The recall affects 28 models, including the 2021-2023 Ford Bronco, 2022 Ford Expedition, 2021-2023 Ford Explorer, and several Super Duty models [4][5] - Ford has recalled more than 1,600 units this year for various issues, including damaged wire harnesses and overheating batteries [4]

Core Insights - The National Highway Traffic Safety Administration (NHTSA) is investigating Ford's BlueCruise hands-free driver-assistance system following two fatal crashes, marking a significant regulatory scrutiny on the technology [1][4][8] - The NHTSA has sent Ford a detailed list of 25 questions regarding the BlueCruise system, including requests for internal documents related to the crashes and the software's development [2][3][8] - The investigation was escalated to an "engineering analysis" level, which is a precursor to potential recall actions by the NHTSA [3] Group 1: Investigation Details - The NHTSA's Office of Defects Investigation opened the investigation in April 2024 after two fatal crashes involving BlueCruise, where drivers crashed into stationary vehicles [4][8] - The NHTSA's inquiry includes basic questions about the vehicles equipped with BlueCruise and more complex requests for information on the software's logic and algorithms for hazard detection [2][8] - Ford has until August 6 to respond to the NHTSA's questions or risk facing civil penalties [9] Group 2: System Capabilities and Limitations - BlueCruise is designed to operate on pre-mapped highways, utilizing cameras, radar sensors, and software for steering, speed, and braking [5] - The system includes an in-cabin camera with eye-tracking to ensure driver attention, but the recent crashes have raised concerns about its ability to detect stationary objects, a known issue with similar systems like Tesla's [5][6][8] - The NHTSA noted limitations in BlueCruise's performance under poor visibility conditions, as both fatal incidents occurred at night [8]

Ford Motor Company - Ford is recalling 273,789 Expedition and Lincoln Navigator SUVs from model years 2022 to 2024 due to a potential brake defect [1] - The brake defect may cause longer brake pedal travel and a reduction in deceleration, increasing the likelihood of a collision [2] - Only about 1% of the recalled SUVs are expected to have this issue, and there have been no reported crashes or injuries related to it [3] - Ford sold over 78,000 Expeditions and 15,000 Navigators in the U.S. last year, indicating the significance of these models in its lineup [4] Waymo LLC - Waymo is recalling 1,212 autonomous vehicles to address software issues that could lead to collisions with road barriers [5] - The company operates over 1,500 vehicles and provides more than 250,000 fully autonomous paid rides each week [5] - Waymo plans to expand its services to additional cities including Atlanta, Miami, and Washington, D.C. [5] Volvo - Volvo issued a recall affecting 413,151 U.S. vehicles, including 2021–2025 XC40 models, due to a malfunctioning rearview camera system [6] - The issue will be resolved through a software update, either at dealerships or via over-the-air installation [6]

Financial Performance - Total company adjusted EBIT was $10 billion[15], a decrease of 63% year-over-year[19] - Total company revenue reached $41 billion[15], driven by "freedom of choice" global product portfolio[16] - Adjusted EPS was $014[19], a decrease of $035 year-over-year[19] - The company had $27 billion in cash and $45 billion in liquidity[17] - Adjusted Free Cash Flow was negative $(15) billion[19], a decrease of $10 billion year-over-year[19] Segment Performance - Ford Blue's EBIT was $01 billion with a 05% margin[19] - Ford Model e's EBIT was negative $(08) billion with a (684)% margin[19] - Ford Pro's EBIT was $13 billion with an 86% margin[19] - Ford Credit's EBT was $06 billion, up $03 billion year-over-year[51] Growth and Market Position - U S electrified vehicle sales were up 26%[16] - Bronco sales increased by 35%[15] - Ford is America's 1 seller of total pickups[16] - Average transaction prices for the new Ford Expedition and Lincoln Navigator increased by 18% and 23%, respectively[15] Factors Affecting Performance - First quarter EBIT was adversely impacted by nearly $200 million of added tariff cost[15] - Planned production downtime and targeted inventory reductions affected volume[27] - Strong product pricing was partially offset by moderated fleet pricing[27] 2025 Guidance - The company is suspending all FY2025 guidance due to material tariff-related near-term risks[57] - The estimated full-year gross cost of tariffs is approximately $25 billion, with a net adjusted EBIT impact of approximately $(15) billion[57]