Skip to comments.Tesla shares dive after Consumer Reports yanks recommendation for Model S
Posted on 10/20/2015 1:44:53 PM PDT by dynachrome
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.
See the most-read stories this hour >> 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.
As the older vehicles are getting up on miles, we are seeing some where the electric motor needs to be replaced and the onboard charging system wont charge the battery, said Jake Fisher, Consumer Reports director of automotive testing. On the newer vehicles, we are seeing problems such as the sunroof not operating properly. Door handles continue to be an issue.
(Excerpt) Read more at latimes.com ...
Consumer Reports was in the tank for Tesla. Wonder what happened?
A complicated product designed largely from scratch with leading edge technology has reliability problems. Whoulda thunkit?
Tesla = crony socialism.
I was thinking the same thing. In the last CR review I read (a couple of months ago), the Tesla S received a 95 numerical rating (off the charts), but if you read the written review various seemingly serious problems were mentioned.
I started back in 76 on the Service side of Electronics, first copiers and then to IBM and Mainframes...
Service will get you every time..
And the mechanic is a nice guy but he drives it more than you
Being politically correct with CR apparently trumps flaws.
Look at how they enthusiastically supported HusseinCare. That was the final straw with me for that east coast rag. They knew their audience and it weren't me.
Yes, I see how this could be a problem.
CR was way over the top in its praise of the Tesla.
People with $100k+ to spend on a third vehicle have a lot of good choices. When actually compared with the experience in those other choices, the Tesla just isn’t that great. It’s nice, but what car for that money isn’t?
A hard to use or fault-prone audio or navigation system hurts those kind of vehicles much more than it would hurt under-$30k vehicles.
Yup, not necessarily surprising.
Tesla nailed the manufacturing front end of the vehicle lifecycle.
These cars haven’t been around long enough to see how they age & die, which - apparently to the shock and delight of many - they will.
Musk will roll with it, learn accordingly, solve the problem, and continue disrupting the ICE vehicle industry.
I have an EV - very nice. Superior to normal cars in many ways. I’m just not sure yet - like Tesla - what the far end of the lifecycle is.
Cars such as DeLorean and Tesla are practically bespoke items, toys for the wealthy who also have a Lexus or two to drive when the toy is in the shop.
Not the first time either...the names have changed and the calendar has advanced many years, but we already did the electric car thing, and in the end it was relegated to a golf cart and industrial uses where it could be made simple and reliable.
IMO, (and I am a electrician) the reliability of electric cars will not reach the reliability and range of todays gasoline engines and will be the expensive toy for those who don't care much about it, just as happened the last time we dove into that pool.
It is a truly beautiful body design. Supercar level exquisite.
‘Average’ new vehicle price is around $33k.
Haven’t seen a median price.
You can’t put much faith in CR’s ratings. They are based on owner surveys of their subscriber base, and the average age of CR’s subscribers is over 60.
A while back, they gave a particular Subaru model a “much worse than average” overall rating. The “problem areas” that made it, in their opinion, an unreliable car were the audio system and body integrity (basically rattles).
When has a bad radio ever left you sitting beside the road with a dead car?
Every other rating category had above or much above ratings.
Someone did get there cut or donation on time...
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