Tesla shares fall 10% on Consumer Reports blast
Last edited Tue Oct 20, 2015, 03:50 PM - Edit history (3)
Source: USA Today
Chris Woodyard, USA TODAY 2:29 p.m. EDT October 20, 2015
Tesla Motors shares slid 10% in midday trading after Consumer Reports magazine rated its Model S "worse than average" for predicted reliability.
The knock on Tesla's reputation comes despite Tesla's glowing reviews for two versions of the Model S that it has bought for testing. Most recently, the magazine called the performance version the best car it has ever tested.
But predicted reliability is a new sore spot for the electric car. The magazine says the 1,400 owners who answered their annual predicted reliability survey complained about problems related to drivetrain, power equipment, charging equipment, center console, and body and sunroof squeaks, rattles, and leaks.
On the basis of all those issues comes the magazine's worst predicted reliability rating.
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Read more: http://www.usatoday.com/story/money/cars/2015/10/20/tesla-consumer-reports-reliability/74278144/
Consumer Reports pulls recommendation of the heavily hyped Tesla Model S
By Drew Harwell October 20 at 2:13 PM
In August, the independent testers at Consumer Reports handed all-electric automaker Tesla one heck of a rave review, giving its heavily hyped Model S the best performance rating ever, a staggering 103 out of 100.
Now, the ratings giant has dinged the showpiece from America's youngest car company with a far less glowing endorsement, withdrawing its recommendation due to drivers' complaints of a "worse-than-average overall problem rate."
Shares in billionaire Elon Musk's prized auto upstart plunged 10 percent Tuesday afternoon on the news, as investors worried that reliability woes could damage the reputation of a groundbreaking luxury sedan that is priced fully loaded at about $130,000.
But drivers' concerns over the Model S — touching everything from a squeaky sunroof to warping brakes — could pose an even more long-term threat for Tesla, which is ramping up the car's production, unveiling new vehicles and fighting to compete with its bigger, more established rivals.
Jerry Hirsch
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October 20, 2015, 10:10 AM
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.
Two months ago at DU:
Tesla car gets best-ever rating from Consumer Reports
That car was the Tesla P85D.
= new reply since forum marked as read
wish I could afford to complain about owning one .
Hell, I can't even buy a volt!Thanks!
