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Tesla shares fall after Consumer Reports says it will no longer recommend Model 3
CNBC ^ | 02/21/2019 | Phil LeBeau

Posted on 02/21/2019 10:41:46 AM PST by Red Badger

Tesla shares fall nearly 2 percent after a new report, based in part on the reviews of thousands of vehicle owners, raises questions about the reliability of Tesla's Model 3.

Consumer Reports says it will no longer recommend the Model 3 due to the reliability issues.

A Tesla spokesperson said, "The vast majority of these issues have already been corrected through design and manufacturing improvements."

Tesla shares fell after a new report, based in part on the reviews of thousands of vehicle owners, raises questions about the reliability of Tesla's Model 3. Consumer Reports says it will no longer recommend the Model 3 due to the reliability issues.

"When we look at the Model 3 lot of the issues are the electronics," said Jake Fisher, senior director of Automotive Testing at Consumer Reports. "There are some issues replacing the (navigation/infotainment) screens, for instance, but we've seen other issues in terms of the trim breaking and the glass."

Tesla shares were trading down nearly 2 percent after the report was released Thursday.

Consumer Reports recommendation of particular models is based on several factors, including the feedback of vehicle owners, crash test performance and the testing and reviews conducted by the Consumer Reports auto team. While it reached its conclusion after reading reports of Tesla owners complaining about the fit and finish of their vehicles, Fisher points out the Model 3 owned and tested by Consumer Reports had a rear window with a small stress fracture.

This report confirms the concern many analysts have raised about the quality of Tesla models slipping as the automaker ramped up production last year. As Tesla CEO Elon Musk pushed his team to meet ambitious Model 3 production targets, he repeatedly said Tesla was in the midst of "production hell."

At one point, Tesla added an additional Model 3 assembly line by erecting a permanent tent outside its assembly plant in Fremont, California. Reports of production issues ranged from robots on the assembly line not working properly to Tesla employees claiming the company was churning out a high volume of flawed parts that led to the automaker needing to rework and repair new models before being shipped to customers. 2019 Chrysler 300 Source: Fiat Chrysler 2019 Chrysler 300

When asked about Consumer Reports' new opinion of the Model 3, a Tesla spokesperson said, "We're setting an extremely high bar for Model 3. We have already made significant improvements to correct any issues that Model 3 customers may have experienced that are referenced in this report, and our return policy allows any customer who is unhappy with their car to return it for a full refund."

The spokesperson added, "This new data from Consumer Reports comes from their annual Owner Satisfaction survey, which runs from July through September, so the vast majority of these issues have already been corrected through design and manufacturing improvements, and we are already seeing a significant improvement in our field data."

While many Tesla owners may not be happy about the reliability of their car, Consumer Reports says those owners are generally satisfied with their electric vehicles.

"They like their cars, but they still tell us the truth. They tell us the problems they are having with them," said Fisher.

As a brand, Tesla fell 11 spots to number 13 out of 33 brands ranked by Consumer Reports. Tesla is tied with Chrysler for having the biggest drop in brand rankings in this year's auto issue.

By comparison, Subaru has soared to the top of the latest car brand rankings. The Japanese brand climbed six places to become number one in the eyes of Consumer Reports, just ahead of Genesis, Porsche, Audi and Lexus.

"Subaru does almost everything really well," said Fisher. "They make an enjoyable car to drive and great reliability too."

The lowest rated auto brands by Consumer Reports is Fiat, right behind Jaguar and Land Rover.


TOPICS:
KEYWORDS: consumerreports; elonmusk; falcon9; falconheavy; model3; spacex; tesla
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To: irishjuggler

I owned a Fiat X1/9 back in the early 80’s.

Spent more time UNDER IT THAN IN IT!..................


21 posted on 02/21/2019 11:15:09 AM PST by Red Badger (We are headed for a Civil War. It won't be nice like the last one....................)
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To: woodbutcher1963

It is by far the best thin to look at especially when buying a used car or a new car with a model that has been in production for several years.

...

I would suggest checking out owners forums, too. For instance, a Mercedes can be a big headache, but there are a lot of owners who can tell you which models to avoid, what jobs you can do yourself, preventive maintenance, solutions to common problems, the best repair shops, etc.


22 posted on 02/21/2019 11:17:04 AM PST by Moonman62 (Facts are racist.)
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To: Moonman62

Yes. Virtue signaling is very satisfying.


23 posted on 02/21/2019 11:26:39 AM PST by SaxxonWoods (The internet has driven the world mad.)
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This YTer is from Idaho I think, not the sun belt. I've only watched the first two, that was in December.
I Bought A Tesla Model 3 | Engineering Explained | Published on Dec 9, 2018

I Bought A Tesla Model 3
Everything That's Wrong With My Tesla Model 3 - Quality Problems | Engineering Explained | Published on Dec 23, 2018

Everything That's Wrong With My Tesla Model 3 - Quality Problems
I Traded My Tesla For The Model 3 Performance - Regret Buying Mid-Range | Engineering Explained | Published on Jan 20, 2019

I Traded My Tesla For The Model 3 Performance - Regret Buying Mid-Range

24 posted on 02/21/2019 11:26:55 AM PST by SunkenCiv (and btw -- https://www.gofundme.com/for-rotator-cuff-repair-surgery)
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To: TexasGator
But how many fast-charging stations will they have access to?

Out here in the wide open west you better not try to go non-stop to grandmas house if its in the next town.Tucson to Phoenix round trip is just about a no no for an electric.

25 posted on 02/21/2019 11:27:33 AM PST by Don Corleone (Nothing makes the delusional more furious than truth.)
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To: Moonman62
I just posted a couple of vid links that may be of interest. CR itself isn't worth a crap, I don't expect this to have much impact (a $7 fluctuation in Tesla stock isn't exactly a 4-leaf clover). Years ago the mag gave an okay rating for the Ford Escort, but noted in footnote that owners also expressed that they'd never own another one. :^)

26 posted on 02/21/2019 11:30:01 AM PST by SunkenCiv (and btw -- https://www.gofundme.com/for-rotator-cuff-repair-surgery)
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To: Moonman62
"Can other cars get over the air updates like Teslas?"

GM has been able to do it since long before Tesla existed (nearly since the beginning of On Star in the 90s). The only thing stopping them is dealership franchise agreements.

27 posted on 02/21/2019 11:31:24 AM PST by norwaypinesavage (Calm down and enjoy the ride, great things are happening for our country)
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Go, Subaru! This is the first that I’ve ever heard of a “Genesis” car.


28 posted on 02/21/2019 11:34:58 AM PST by Rio
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To: woodbutcher1963
I received CR for many years. Finally got sick of them as their est coast orientation become more and more obvious.

They were all in for Øbowelcare, Publishing glowing editorial puff pieces. I dropped them then.

As far as cars, they have been notoriously old women. Decades ago during one of the gas "crisis", they pontificated on why anyone needed any more than a 4-door six-cylinder car. They were always anti-performance.

29 posted on 02/21/2019 11:40:30 AM PST by doorgunner69
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To: TangledUpInBlue
Tesla will be gone in 10 years. That’s my prediction.

That is an extremely optimistic prediction. As public confidence in Tesla's product and future declines and other manufacturers start bringing better electric vehicles to market their sales will drop off to almost nothing. Their quality control has already been chopped. I would guess they will go into chapter 11 in the next year at which point they will stop honoring most warranty repairs - especially high dollar items like the batteries. This will be one of the final nails in their coffin.

What we are witnessing is the rise and fall of Elon Musk, a talented marketer and visionary, but a shyster none the less and someone who will disappear from the public eye in a flash once his empire implodes.

30 posted on 02/21/2019 11:41:38 AM PST by fireman15
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To: Red Badger

I sat in a Model 3 they had in the Tesla Store in the local mall. I was really impressed.


31 posted on 02/21/2019 11:42:27 AM PST by willk (everyone)
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To: woodbutcher1963
I am surprised Honda has fallen down as far as they have. They used to be consistently in the top 5.

I am amazed Audi is not near the bottom of the pack. I and members of my family 4 of them years aga, a friend another. All were pieces of crap that constantly had problems.

They may have improved somehow, but I would never buy one after my experience.

32 posted on 02/21/2019 11:45:38 AM PST by doorgunner69
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To: Red Badger

Not all dishwashers are named Jose. Some are Jesus. Some are Jorge. :)


33 posted on 02/21/2019 11:46:22 AM PST by woodbutcher1963
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To: Red Badger

Red,

FIAT means, Fix It At Tony’s!

The company can’t be accused of false advertising.


34 posted on 02/21/2019 11:47:07 AM PST by BatGuano
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To: norwaypinesavage

The only thing stopping them is dealership franchise agreements.

...

Right. Tesla doesn’t have that problem.


35 posted on 02/21/2019 11:50:26 AM PST by Moonman62 (Facts are racist.)
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To: Rio

Genesis is the high end version of Hyundai. Similar as a Lexus to a Toyota. It was only sold in South Korea until recently.

I saw one a couple weeks ago. It was a very nice looking 4 door sedan model. I spoke to the owner. He was very happy with his purchase.


36 posted on 02/21/2019 11:51:18 AM PST by woodbutcher1963
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To: willk

I sat in the SUV and was amazed. I would like to try one but no way would I ever buy one.

Buy a Tesla only if you have money to burn, it’s a cool little toy.


37 posted on 02/21/2019 11:51:47 AM PST by Tea Party Terrorist (A bad peace is better than a good war.)
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To: BatGuano

It actually stands for [translated from Italian]:

Italian Automobiles Factory, Turin


38 posted on 02/21/2019 11:52:16 AM PST by Red Badger (We are headed for a Civil War. It won't be nice like the last one....................)
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To: Don Corleone

Easy round trip. Besides you can always plug in at grandmas!


39 posted on 02/21/2019 11:52:46 AM PST by TexasGator (Z1z)
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To: woodbutcher1963

My mother had a Genesis and loved it. It is a great ride and a very nice car. Unfortunately, she lives in the mountains and really needs an SUV so she got a Porsche Macan.


40 posted on 02/21/2019 11:52:58 AM PST by Tea Party Terrorist (A bad peace is better than a good war.)
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