Ford Motor Company
A Georgia couple lost their lives in a rollover accident in 2014, and Ford Motor Company (NYSE:F) has recently dealt with a blow to its reputation when a jury ordered the company to pay more than $1.7 billion in damages for the tragedy.
The family of Melvin and Voncile Hill brought the complaint against Ford. The company (NYSE:F) was named as a defendant. When the right front tire of the couple’s 2002 Ford F-250 Super Duty pickup burst and the truck turned over, they were killed. The pair were traveling away from their farm in Georgia in the vehicle. The Hill family asserted that Ford was aware in the past that the roofs of their F-250 pickups were not sturdy enough to protect riders in the event of a rollover, but the company did not warn customers about this issue until 2016.
The trial, in this case, lasted for 14 days and took place in a state court in Georgia. The matter has been dragged out for years, but the jury finally decided last week.
The jury decided that the automobile manufacturer (NYSE:F) was 70% responsible for what happened and awarded the Hill family $24 million in compensatory damages the day before.
It is highly possible that the Hill family pushed for a verdict to warn others riding in any of the millions of trucks that the makers of the F-250 (NYSE:F) marketed. We can only hope that the harsh judgment would encourage more automakers to address concerns about the safety of their passengers.
The lawyers for Ford defended the actions of the firm and its engineers, claiming that they hadn’t wilfully turned a blind eye to the issue out of complete and utter disregard for the safety of the passenger.
Recently, the company (NYSE:F) has been dealing with some quality control concerns. It has been some time since the company initiated the initial recall of its F-150 Lightning electrified pickup trucks. The tire pressure monitoring system identified a potential threat to consumers’ safety, which prompted the recall. It applied to pickup trucks with all-season tires of 20 inches or 22 inches in diameter. In yet another significant recall, nearly 49,000 Ford Mustang Mach-E SUVs were called back because of a malfunction that could result in the engine not starting abruptly or losing propulsion power while the vehicle was in motion, both of which could lead to dangerous situations, particularly on busy roadways.
Shares of Ford Motor Company (NYSE:F) have increased by 24.7% over the past year, above the industry’s rise of 5% during the same period.
About Ford
Ford, is an American multinational automaker with headquarters in Dearborn, Michigan, in the United States. Henry Ford was the original founder, and it was incorporated on June 16th, 1903. Under this brand, the company markets and sells automobiles and commercial vehicles. It also markets and sells luxury automobiles under the Lincoln brand.
In addition, the company owns the Brazilian SUV manufacturer Troller, has an 8% stake in the British automobile manufacturer Aston Martin, and has a 32% stake in the Chinese automobile manufacturer Jiangling Motors. Additionally, it participates in joint ventures in Thailand (AutoAlliance Thailand), China (Changan), Taiwan (Lio Ho), Russia (Otosan), Turkey (Otosan), and Russia (Sollers). The family maintains control of the business, which is traded on the New York Stock Exchange. The family holds a minority stake in the company, but they hold the majority of the voting power.
Based on the number of vehicles they produced in 2015, the automobile manufacturer was the second largest automaker in the United States, coming in behind General Motors, and the fifth largest in the world, coming in behind Toyota, Volkswagen, Hyundai, and General Motors. It was the fifth-largest automobile manufacturer in Europe when the year 2010 came to a close.
Featured Image: Megapixl © Jetcityimage
Author Shariq Khan 
