Business Notes AUTOS

For Ford, the experience was akin to buying a new car and then suffering a serious dent only a few days later. The No. 2 U.S. automaker began last week by announcing plans to acquire a 75% stake (price: more than $30 million) in Aston Martin Lagonda, the manufacturer of hand-assembled sports cars that carry an average price tag of $130,000. While the British car company has sputtered financially, its products have long enjoyed a sterling reputation. Queen Elizabeth II gave an Aston Martin to Prince Charles for his 21st birthday, and James Bond has driven the cars in the films Goldfinger and The Living Daylights.

Yet Ford had little time to savor its new European connection before making an embarrassing announcement. The company said it planned to recall 4.3 million cars, light trucks and vans to correct fuel-system defects that have caused some 230 engine fires and injured 16 people. The problems afflict vehicles with fuel-injected engines from the 1986 through 1988 model years, including the Mercury Sable, the Ford Taurus and the Aerostar van. Ford's ! recall is the largest by a U.S. automaker since 1981, and could be a setback to the company's newly regained reputation for high quality.