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Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock

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‘I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion

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'Dr. Doom' Nouriel Roubini says we're headed for universal basic income or 'some form of socialism' as AI revolutionizes work—He calls that optimistic
Recalls

Volvo Recalls Half a Million Cars Over Fire Risk

By
Chris Morris
Chris Morris
Former Contributing Writer
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By
Chris Morris
Chris Morris
Former Contributing Writer
Down Arrow Button Icon
July 22, 2019, 12:02 PM ET
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Volvo, the Swedish automaker renowned for car safety, has recalled 507,000 vehicles produced between 2014-2019 amid fears they could catch fire.

The company says a plastic engine intake manifold could be faulty, causing it to melt and deform, which could result in a fire. So far, the company has had no reports of any issues with the cars.

All of the affected vehicles have a 2.0-liter, four-cylinder diesel engine. The recall affects select models of the S60, S80, S90, V40, V60, V70, V90, XC60 and XC90 lines.

Owners will receive a letter asking them to contact their local dealer.

Volvo recalls are rare, but it has been a busy year for other automakers. Ford, in particular, has had a number of major recalls this year. In January, it recalled 953,000 vehicles as part of the ongoing Takata airbag recall. The following month, it issued three rapid fire recalls on over 1.8 million cars and pickups, including 1.5 million F-150s.

May saw a quarter-million Ford Fusions being recalled over discovering a flaw that could lead to the cars rolling away. And in June, the company recalled more than 1.2 Ford Explorer SUVs after learning of an issue that could result in drivers losing steering control of the vehicles. And in July, it recalled 58,000 vehicles after discovering an issue with the powertrain control module software that could result in a deformed fuel tank.

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—One of Warren Buffet’s favorite metrics is flashing red. Corporate profits are due for a hit

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About the Author
By Chris MorrisFormer Contributing Writer

Chris Morris is a former contributing writer at Fortune, covering everything from general business news to the video game and theme park industries.

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