Updated 9am with statement from Ford Australia:
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Ford Australia has launched a major safety investigation into a possible brake issue with its Falcon and Territory models.

There is a potential for thousands of vehicles to be affected by the problem, which can lead to a failure of half the braking system.

Many owners have reported failures of brake hoses on some BA & BF model Falcons with SX & SY Territory models also thought to be affected.

"It will be another three weeks before we complete testing," Ford Australia president Martin Burela said. "We are convinced it is not a seriously dangerous problem."

Any one experiencing issues with their vehicle's braking system is urged to contact their Ford service department as soon as possible.

Ford Australia have this morning supported the investigation with the following statement:

Ford is aware of incidents that have been reported in the press recently and some incidents that have been reported by our customers. Although the brake system in the BA-BF Falcon and SX-SY Territory models contain dual hydraulic circuits (front and rear), which are isolated in the event of a leak in either circuit, the safety of our customers is our highest priority and we are treating this matter very seriously. Ford is currently undertaking a detailed investigation to better understand the issues raised and we are working to conclude those investigations as quickly as possible.