Ford Motor Company (NYSE:F) is facing a bizarre issue with its auto speakers in pickup trucks and smart utility vehicles (SUVs). As per a Wall Street Journal report, drivers are complaining of abrupt, ear-piercing noises from the speakers of the vehicles. The vehicles most frequently associated with this issue are the 2022 F-150 Lightning electric trucks, along with the 2021-23 models of the Expedition SUVs and F-150 pickups. The investigation is underway, and if the defect is found to be hazardous, Ford could be forced to recall affected vehicles.
Speaker-Related Complaints to Ford
Ford has received about 100 complaints involving the 2022 F-150 truck, while owners have also complained to the National Highway Traffic Safety Administration (NHTSA) and expressed concerns on online forums. In some cases, drivers can turn off the loud static noise. In others, the ear-splitting noise goes on for about 15 minutes. These noises even occur if the vehicle’s audio is off, and sometimes even when the engine is off.
To address the issue, Ford says it has handed out technical service bulletins (TSB) to dealers this summer. Ford believes the issue stems from the amplifier of the vehicle’s sound system. Accordingly, Ford has created software that can be either downloaded or installed through an authorized dealer. The software uses the amplifier as a filter to avoid the bizarre noise.
Currently, Ford holds the perspective that the problem hasn’t escalated to a level warranting a recall. Ford’s F-Series pickup trucks have remained one of America’s bestsellers for decades, and it is certain that the company will take proactive measures to swiftly address and resolve the reported complaints.
Is It Good to Buy Ford Stock?
Wall Street is cautiously optimistic about Ford’s trajectory given the ongoing heated price war and union concerns. On TipRanks, of the nine Top Analysts who recently rated Ford stock, four have given it a Buy rating, four have given it a Hold rating, and only one has a Sell rating.
Top Wall Street analysts are those awarded higher stars by the TipRanks Star Ranking System. This is based on an analyst’s success rate, average return per rating, and statistical significance (number of ratings). Based on these analysts’ views, Ford has a Moderate Buy consensus rating. The average Ford Motor Co. price forecast of $15.79 implies 32% upside potential from current levels. Year-to-date, F stock has gained 11.5%.
