Technology content trusted in North America and globally since 1999
7,436 Reviews & Articles | 54,599 News Posts

Tesla stock slides after Consumer Reports drops Model S recommendation

Consumer Reports drops its recommendation for the Model S, with Tesla stock dropping by over 10%
By: Anthony Garreffa | Technology in Vehicles News | Posted: Oct 21, 2015 2:27 am

Consumer Reports seems to have changed its mind on the Model S, pulling its recommendation for Tesla Motors' electric vehicle. The company once donned the Model S with its highest rating ever, but has since changed its mind, like a scorned lover.

 

 

The review organization has finished up with its Annual Auto Reliability Survey, reporting that some 1400 owners have the Model S with a "worse-than-average overall problem rate". These issues that Consumer Reports is mad over are mostly covered with Tesla's 4-year/50,000 mile bumper-to-bumper warranty - or even better with its 8-year/unlimited mileage powertrain warranty.

 

Tesla has responded saying that it works hard on making hardware fixes "painless", adding that Model S owners rated Tesla Motors' customer service as the best in the world. But this didn't stop Tesla stock from dropping from its high $228 to just $202, and while it has recovered some of that, we have to question the sudden reverse thinking by Consumer Reports. Maybe they were clouded in some of Volkswagen's fumes?

 

tesla-stock-slides-consumer-reports-drops-model-recommendation_03

NEWS SOURCES:Engadget.com

Related Tags

Got an opinion on this news? Post a comment below!
loading