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Indebta > Investing > Tesla’s largest recall to date affects more than 2 million vehicles
Investing

Tesla’s largest recall to date affects more than 2 million vehicles

News Room
Last updated: 2024/02/02 at 4:55 PM
By News Room
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Tesla Inc. is recalling more than 2 million vehicles in the U.S. as a result of a warning-lights problem, marking the electric vehicle maker’s largest recall to date.

“Warning lights with a smaller font size can make critical safety information on the instrument panel difficult to read, increasing the risk of a crash,” the National Highway Traffic Safety Administration said in a statement. The NHTSA said that 2.19 million vehicles are potentially affected.

Related: Tesla to recall more than 2 million vehicles over concerns about Autopilot and drivers’ attention

Tesla
TSLA,
-0.50%
is recalling certain 2012-2023 Model S, 2016-2024 Model X, 2017-2023 Model 3, 2019-2024 Model Y, and 2024 Cybertruck vehicles, according to the NHTSA.

“An incorrect font size is displayed on the instrument panel for the Brake, Park, and Antilock Brake System (ABS) warning lights,” it said. “As such, these vehicles fail to comply with the requirements of Federal Motor Vehicle Safety Standard number 105, ‘Hydraulic and Electric Brake Systems’ and 135, ‘Light Vehicle Brake Systems’.”

The electric vehicle maker began releasing an over-the-air software update, free of charge, with owner notification letters expected to be mailed March 30, 2024, according to the NHTSA.  

Related: Tesla recalling nearly 200,000 vehicles due to software glitch that causes backup camera to go dark

Tesla has not yet responded to a request for comment from MarketWatch.

Separately, in documents posted Friday, the NHTSA’s Office of Defects Investigation said that a 2023 probe into steering problems affecting an estimated 334,569 Tesla electric vehicles has been upgraded to an engineering analysis, bringing the investigation a step closer to a recall. The probe, which was opened in July 2023, is related to Tesla’s 2023 Model 3 and Y, according to the NHTSA. “The investigation identified 2,388 total complaints regarding the alleged defect,” the NHTSA said. This includes 124 complaints identified through Vehicle Owner Questionnaires and 2,264 complaints through manufacturer data, according to the NHTSA.

Related: Can Elon Musk do ‘whatever he wants’? Why moving Tesla out of Delaware may spook investors.

Shares of Tesla fell 0.7% in premarket trades Friday. The stock is down 0.6% over the last 52 weeks, compared with the S&P 500 index’s
SPX
gain of 18.6%.

Last month, the Associated Press reported that Tesla is recalling nearly 200,000 vehicles in the U.S. because of a software glitch that could cause the cars’ backup cameras to go dark. In December, Tesla recalled more than 2 million vehicles over autopilot control issues.

Ciara Linnane and Claudia Assis contributed.

Read the full article here

News Room February 2, 2024 February 2, 2024
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