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Tesla Issues A Recall On 53k Vehicles

Tesla Issues A Recall On 53k Vehicles

Yesterday, Tesla issued a voluntary recall of 53,000 vehicles, that it had shipped out in 2016. With the company having shipped 76,000 vehicles last year in the first place, this recall comes as a grave wake up call for its executive teams and its investors.

In an email statement to Vox, Tesla stated that a part of its vehicles parking brake had a defective part which could prevent the brake from releasing – “We do not believe this issue could ever lead to a safety concern for customers and we have not seen a single accident or injury relating to it.” Tesla went on to add that the worst case scenario would involve the vehicle getting immobilized by the parking brake that cannot be disengaged.

What seems like a preventative measure, Tesla has asked its customers to get their cars looked at. CNBC reported that Tesla expects the process to be completed in under an hour while under 5% of the vehicles actually have the defective component. The cost of repairs is going to be covered by the company responsible for the defective piece, Brembo.

Tesla’s stock which has only recently breached the $300 mark, saw a drop in price by about 2% right after the news broke. The new’s of such defects with Tesla’s vehicles will only add to the questions being asked of the reliability of the autotech company’s electric vehicles. With the company set to launch its mass market vehicle, the Model 3, Tesla will need to ensure that its quality control checks are in place, if it wishes to take on the likes of the Fords and the GM’s.

At the time of writing this article, Tesla’s stock, it seems, has already ridden over the fear, as it is currently trading 0.54% up from end of day yesterday.

 

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