Tesla shares dive after Consumer Reports yanks recommendation for Model S

[PoliticAverse]

Consumer Reports withdrew its recommendation for the Tesla Model S — a car the magazine previously raved about — because of poor reliability for the sporty electric sedan.

The turnabout comes after the influential consumer magazine handed the luxury car a “worse-than-average” rating in its annual report on the predicted reliability of new vehicles issued Tuesday.

The news sent Tesla Motors stock down as much as $23.77, more than 10%, to $204.33 in mid-day trading.

Consumer Reports surveyed 1,400 Model S owners “who chronicled an array of detailed and complicated maladies” with the drivetrain, power equipment, charging equipment and giant iPad-like center console. They also complained about body and sunroof squeaks, rattles and leaks.

Read the rest at: http://www.latimes.com/business/autos/la-fi-hy-consumer-reports-tesla-models-20151020-story.html

[Stuart G]

1. Thanks for the news.

I hope they take care of those problems. We need a very high quality and reliable electric car..

[melm00se]

2. oops

this happens anytime people or groups or organizations get whipped up in a frenzy over a new product/technology.

Rarely are Gen 1.0 products devoid of defects, especially something as complicated as a motor vehicle.