As of April 2015, Ford has not recalled the Ford 500 transmission. The company has recalled the gasoline fuel system on Ford 500s for model years 2005 through 2007.
Ford 500 owners with vehicles built between 2005 and 2007 report shifting concerns with the automatic transmission. The transmission may have harsh or delayed shifting between gears. This problem affects all-wheel-drive and front-wheel-drive models. On lower mileage vehicles, upgrading the software in the powertrain control module and the transmission code module may alleviate the problem. If left untreated, higher mileage vehicles may sustain internal transmission damage, and repairs may include replacement of the valve body or a complete transmission rebuild.