regulatory
confidence high
sentiment negative
materiality 0.70
Ford enters NHTSA consent order over 2020 recall, agrees to $165M civil penalty
FORD MOTOR CO
- Consent order resolves NHTSA allegation that 2020 rearview camera recall was untimely; no admission of liability.
- $165M penalty: $65M cash, $55M held in abeyance subject to compliance, $45M for data analytics and testing facility investments.
- Ford to submit monthly Safety Evaluation List, meet quarterly with NHTSA, and hire independent third party to assess compliance.
- Ford will review prior three years of recalls to ensure all impacted vehicles were captured and update as needed.
- Consent order term is three years, extendable one year at NHTSA's discretion.