How much is the Ford transmission settlement?
Ford Motor Company recently reached a settlement agreement to address issues with certain automatic transmissions in some of its vehicles. The settlement provides compensation to eligible owners and lessees who experienced problems with these transmissions. Here's a detailed look at the key details of the Ford transmission settlement.
What is the Ford Transmission Settlement?
The Ford transmission settlement is a class-action lawsuit resolution that covers certain Ford and Lincoln vehicles equipped with 6F35 and DPS6 automatic transmissions. These transmissions were used in various Ford models, including the Fiesta, Focus, Fusion, and EcoSport, between the model years 2011 and 2016. The settlement aims to compensate owners and lessees who experienced issues such as shuddering, slipping, delayed acceleration, and premature wear with these transmissions.
How Much is the Ford Transmission Settlement?
The total value of the Ford transmission settlement is estimated to be around $35 million. This amount will be used to provide the following compensation to eligible vehicle owners and lessees:
- Cash payments: Owners and lessees may receive cash payments of up to $2,325 per vehicle to cover the cost of repairs, rental cars, and other expenses related to the transmission issues.
- Extended warranty coverage: The settlement extends the warranty coverage for the affected transmissions to 7 years or 100,000 miles, whichever comes first, from the original service date.
- Reimbursement for prior repairs: Owners and lessees who have already paid for repairs related to the transmission issues may be eligible for reimbursement.
The exact amount of compensation will depend on the specific circumstances of each claim, such as the number of repairs needed, the cost of those repairs, and the duration of the vehicle's ownership or lease.
Who is Eligible for the Ford Transmission Settlement?
The Ford transmission settlement covers owners and lessees of the following Ford and Lincoln vehicles equipped with the 6F35 or DPS6 automatic transmissions:
- Ford Fiesta (2011-2016)
- Ford Focus (2012-2016)
- Ford Fusion (2010-2016)
- Ford EcoSport (2018-2019)
- Lincoln MKZ (2010-2016)
To be eligible for the settlement, the vehicle must have been purchased or leased in the United States or its territories. Owners and lessees must also have experienced issues with the transmission and have documentation to support their claims.
How to File a Claim for the Ford Transmission Settlement
The process for filing a claim for the Ford transmission settlement is as follows:
- Determine if your vehicle is eligible by checking the list of covered models and model years.
- Gather any documentation related to the transmission issues, such as repair records, receipts, and rental car expenses.
- Visit the official Ford transmission settlement website (www.fordtransmissionsettlement.com) and follow the instructions to submit your claim.
- The claims administrator will review your submission and determine the amount of compensation you are eligible to receive.
The deadline to file a claim for the Ford transmission settlement is [insert deadline date]. It's important to act quickly to ensure you receive the compensation you are entitled to.
Does Ford pay for transmission?
There are several types of compensation available to qualifying Class Members, including (1) Vehicle Repurchase; (2) Cash Payments for Transmission Hardware Replacements; (3) Cash Payments for Software Flashes; and (4) Compensation for Denied Repairs.
What is the highest paid settlement?
The Biggest Lawsuit Ever: The Tobacco Settlement — $206 Billion. The Tobacco Master Settlement Agreement was filed in 1998 against the four largest tobacco companies in the United States and remains the largest lawsuit in history in terms of dollars involved. Defendants included Philip Morris, R. J.
Is the Ford transmission settlement real?
The Settlement became effective on April 7, 2020. Current and former owners or lessees of Class Vehicles may submit claims for benefits under the Settlement. Please check this website frequently for updates.
What is the payout ratio for Ford?
Ford Motor's operated at median payout ratio of 2.2% from fiscal years ending December 2020 to 2024. Looking back at the last 5 years, Ford Motor's payout ratio peaked in December 2023 at 55.2%. Ford Motor's payout ratio hit its 5-year low in December 2022 of -101.4%.
What is the Ford transmission lawsuit for 2024?
2017 to 2024 FORD FOCUS vehicles built with dual-clutch transmissions prone to shuddering, slipping, bucking, jerking, hesitation while changing gears, premature internal wear, delays in downshifting and, in some cases, sudden or delayed acceleration may be affected by the class settlement.
How to join class action lawsuit Ford transmission?
You will need to provide documentation of your vehicle's issues, such as repair bills, communication with Ford or dealers, and any other evidence that supports your claim. This documentation will establish your eligibility to join the class action.
Will Ford cover my transmission?
The Powertrain Warranty covers components such as the engine, transmission, and drivetrain.
How do I get a class action settlement?
Instructions on how to file a claim for a piece of a class action settlement can be found on the official settlement website and on the class notice you will likely receive by mail and/or email if you are an eligible class member.
What is the Ford F-150 10 speed transmission class action lawsuit?
In 2023, Ford faced new class action lawsuits alleging dangerous issues with multiple models, including the F-150, Mustang, Expedition, and others using the 10R80 transmission. Plaintiffs assert these vehicles can suddenly lose power and accelerate unpredictably, posing injury risks from collisions.
How much did the Ford settlement payout?
Ford Motor Company has agreed to pay the United States $365 million to resolve allegations that it violated the Tariff Act of 1930 by misclassifying and understating the value of hundreds of thousands of its Transit Connect vehicles, the Justice Department announced today.
