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Magnuson–Moss Warranty Act; Long title: An Act to provide disclosure standards for written consumer product warranties against defect or malfunction; to define Federal content standards for such warranties; to amend the Federal Trade Commission Act in order to improve its consumer protection activities; An Act to provide minimum disclosure standards for written consumer product warranties ...
Ford Motor Co. reported Wednesday that its second-quarter net income fell 4.7% from a year ago as its combustion-engine unit posted a pretax loss due to rising warranty and recall costs. The profit drop and lingering quality problems knocked net income to $1.83 billion from April through June, compared with $1.92 billion a year ago.
Typically, the consumer is advised to return the goods, regardless of condition, to the seller for a full refund or modification. Depending on the instructions of the recalling business, the seller returns the product to the recalling business, or may dispose or modify the product on site.
Quality is once again Job One at Ford Motor Co. Taking a page from the automaker's ad slogan of the 1980s and '90s, Ford's new chief executive, Jim Farley, is aiming to rein in rising warranty ...
Ford reported $800 million of increased warranty costs for the second quarter of this year. Farley has been trying to get a handle on warranty costs for the past four years. In October of 2020, he said the company was working to cut quality-related repairs after glitch-prone small-car transmissions hit the automaker’s bottom line.
For example, in the European Union the Consumer Rights Directive of 2011 obliges member states to give purchasers the right to return goods or cancel services purchased from a business away from a normal commercial premises, such as online, mail order, or door-to-door, with limited exceptions, within two weeks or one year if the seller did not ...
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Lemon law protection arises under state law, with every U.S. state and the District of Columbia having its own lemon law. [1] Although the exact criteria vary by state, new vehicle lemon laws require that an auto manufacturer repurchase a vehicle that has a significant defect that the manufacturer is unable to repair within a reasonable amount of time. [2]