Ford Motor Company (NYSE: F) saw its stock plummet by 13.8% this week amid rising U.S. oil prices, which surged 35%—the largest weekly increase in futures trading history. The significant drop in Ford’s stock is compounded by company-specific issues, particularly the announcement of nearly 2.4 million vehicle recalls due to rearview camera and windshield wiper malfunctions, as reported by the National Highway Traffic Safety Administration.
Additionally, Ford’s recalls add to a previous announcement in which the company recalled 4.3 million vehicles for safety issues, including towing-trailer lights and brakes. While some issues could be resolved via an over-the-air software update, the mounting recalls have negatively impacted Ford’s reputation and financial stability during a week of market uncertainty driven by conflict in the Middle East and concerns over high oil prices.
