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Ford (NYSE:F) and GM (NYSE:GM), two of the biggest U.S. automobile companies have had big developments recently. Not long ago, federal investigators finally closed an investigation regarding whether approximately 1.56 million Ford SUVs were at risk of rolling away. The investigation took almost four years and ended without a recall.
The National Highway Traffic Safety Administration (NHTSA) announced last Friday that it was ending it investigation of the 2002 to 2005 Ford Explorer and Mercury Mountaineer as well as the 2003 to 2005 Lincoln Aviator. The announcement noted that there were very few complaints.
The actual failure rate was only 4.4 issues for 100,000 vehicles that were expected of having an automatic transmission parking system problem. The failure rate was 3.4 per 100,000 vehicles expected of having a problem with the brake shift interlock system. The NHSTA noted that there were very few incidents, and they appeared to be decreasing as well.
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