Tesla Model 3 is one of the best-selling luxury cars in the United States today. But, it has led to the downfall of Tesla’s stock today. Because, a research magazine called Consumer Reports, denied recommendation of the Tesla Model 3 car. The reason for this was the questionable reliability of the car.
Tesla shares dipped 2.3 percent after the Consumer Reports released the report. This is pretty bad news for Tesla, since the Model 3 is one of the hot favourite electric vehicles (EV) in the US. It is also cheaper than the other two Tesla EVs which are available in the market. The other two models are the Tesla Model X mid-size luxury crossover vehicle and the Tesla Model S five-door liftback and Tesla Model 3’s pricing starts from $43,000.
Consumer Reports take on the Tesla Model 3
Consumer Reports’ new data on the Tesla Model 3 was obtained from its annual owner satisfaction survey. The time period for this survey data was from July to September 2018. Jake Fisher, who is the senior director of automotive testing at Consumer Reports said, “Reliability is very important. Because consumers want their cars to last — and not be stuck in repair shops.”
There are many problems in the electronics in the Model 3. We have seen issues in replacement of the GPS screens and also in the glass and trim breaking.
Why has Tesla Model 3 suffered?
According to Consumer Reports, many Tesla Mode 3 customers also complained that there were issues like ill-fitting body trim and defects in the glass. The fit and finish of the Model 3 was also unsatisfactory to the customers. This new report reaffirms the concerns that the quality of the Tesla models are being compromised just to meet production targets. Tesla Chief Executive Officer (CEO), Elon Musk tried really hard to achieve an ambitious production target of 5000 Model 3 cars per month.
Elon Musk was also quoted to say that Tesla’s production unit in Fremont, California was in the middle of a ‘production hell’.
