FTS light truck tire recall could cost $80 million

Order Reprints

Foreign Tire Sales Inc. (FTS) says its recall of up to 450,000 allegedly defective Chinese-made light truck tires could cost up to $80 million.

FTS officials estimate the company may only be able to pay 10% to 15% of the total amount. The cost of the recall, they believe, may drive the company into bankruptcy.

In the event of a product recall, "there is no 'hardship exemption' in the law," an administrator from the National Highway Traffic Safety Administration told the U.S. Senate Committe on Commerce, Science and Transportation last week.

Related Articles

Tire Discounters Helped Secure Essential Status for Ohio Tire Dealers

MTD Tire Dealer of the Year Profile: Chip Wood

How Chip Wood Built Tire Discounters’ Management Team

You must login or register in order to post a comment.