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Tesla and General Motors Both Facing Fire-Related Recalls

By  +Follow January 14, 2014 4:06PM
Tickers Mentioned:

The National Highway Traffic Safety Administration posted recalls for vehicles made by General Motors (GM) and Tesla Motors (TSLA) on Tuesday, citing problems that could cause the vehicles to catch fire.  Tesla has the easier path to compliance, with owners not required to bring their vehicle to the shop to get fixed.

For GM, the NHTSA said that the company is recalling approximately 370,000 2014 Chevy Silverado and GMC Sierra full-size trucks equipped with 4.3-liter or 5.3-liter engines.  The problem is with computer software that can allow the exhaust to overheat when the trucks are idling in cold temperatures.  The overheating can melt nearby plastic parts and result in an engine fire.  Eight fires have been reported to date, fortunately with no injuries reported.

The remedy is for owners to bring their trucks in to dealerships where the engine control module will be reprogrammed for free.

Tesla cars will never have the problem that GM is having as they don’t have an exhaust; they’re electric.  However, Tesla is recalling about 29,200 of its Model S sedans because the charging adapter, cord or wall outlet could overheat during charging, increasing the risk of a fire or burn injury.  That’s nearly all of the Model S sedans that were produced in 2013.

According to the NHTSA website:

Tesla will notify owners and provide an "over-the-air" software update. Some owners have already received this update. This update allows the Model S on board charging system to detect any unexpected fluctuations in the input power or higher resistance connections to the vehicle. If detected, the onboard charging system will automatically reduce the charging current by 25%. Tesla owners can verify that they have received the updated software (version 5.8.4 or later) by viewing the vehicle's center information screen. Additionally, Tesla will mail owners a replacement NEMA 14-50 adapter that is equipped with an internal thermal fuse.

In a bit of irony, maybe it’s a good thing that Tesla has the recall out for more than 29,000 of its electric cars because that figure is more than they expected to sell.  The company said that the fourth quarter of 2013 was its best quarter ever for the company by a long shot, exceeding corporate sales projections by approximately 20 percent.   The strong quarter even came in the face of negative press last year after a video surfaced showing a Model S catching fire (unrelated to the charging issue) after striking debris in the road.   Two other similar fires were also reported, prompting a NHTSA investigation.

Tesla reported Tuesday afternoon that it sold and delivered almost 6,900 vehicles during the fourth quarter.  This was well above the “slightly under 6,000” vehicles that the company previously forecast.  Tesla attributed the improved sales to its “superlative safety record” of the Model S and “great performance” in extremely cold conditions.  Again, a bit of irony given the news today.

The company said that Tesla cars have been sold in 31 countries to date and have cumulatively logged more than 200 million miles of driving.

The recall news didn’t affect shares of GM as it moved ahead 1.1 percent in Tuesday trading to close at $40.02 per share.  Tesla investors seemed to completely ignore the recall news and focus on the growing sales figures for the sleek, expensive cars.  Shares popped 15.7 percent to close the day at $161.27.

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Results for TSLA
28 Aug 15 15:01:41
RT Sentiquant: #toptickertweets $SPY $AAPL $WEAT $UWTI $ARIA $FB $TSLA $TWTR $FCX $SPX #sentiquant #FinTech 20150828 18:00:05:954
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Opening Up Chat Room For Limited Time http://t.co/xmN5ySZmt4 $SPY $QQQ $IWM $TSLA $AAPL $FB $AMZN $NFLX $USO $DIA $TWTR $BABA $GPRO $AMBA
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#toptickertweets $SPY $AAPL $WEAT $UWTI $ARIA $FB $TSLA $TWTR $FCX $SPX #sentiquant #FinTech 20150828 18:00:05:954
Lithium News
28 Aug 15 14:52:07
$TSLA finally signed a supply agreement this morning, and it's with a junior http://t.co/67Y9JsFnlE
Resource Investing
28 Aug 15 14:52:07
$TSLA finally signed a supply agreement this morning, and it's with a junior http://t.co/RkZM84QHYZ
Stock Forums
28 Aug 15 14:46:33
TSLA Tesla Motors Inc. Ex-Div Date http://t.co/tG2KHgHGaL $TSLA $PBR $TNA $SUNE #TSLA #nasdaq #pennystocks
28 Aug 15 14:40:47
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28 Aug 15 14:39:02
Better Than We Thought $TSLA $DIA $GLD $OIL $SLV $SPY $SPX $BA $CVS http://t.co/o6Pf0981WN
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Graeme Lang
28 Aug 15 14:23:49
@JavierHasse @Benzinga Benzinga I think you have a duty to amend the story and clarify the correct identity of company with deal with $TSLA
IH News Desk
28 Aug 15 14:23:07
$TSLA Stock Forum Updated Friday, August 28, 2015 5:11:02 PM $UCO $DD $UGAZ $GDXJ http://t.co/6AcaShTGDR
Trade Yodha
28 Aug 15 14:21:07
$TSLA - Tesla Wants White House to Press China http://t.co/xuRTn3zvaF
28 Aug 15 14:21:07
$TSLA - Tesla Wants White House to Press China http://t.co/hKkpbeOnet
28 Aug 15 14:21:06
$TSLA - Tesla Wants White House to Press China http://t.co/OCHYUThymY
Solo traders
28 Aug 15 14:21:04
$TSLA - Tesla Wants White House to Press China http://t.co/LvtzeojjhV
Kevin Sharpe
28 Aug 15 14:12:28
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TSLA Speedreader
28 Aug 15 14:07:14
$TSLA #Tesla Tesla Model S Nails Consumer Reports Survey, Scores 103 http://t.co/dUggkq28Z5
Mark B. Spiegel
28 Aug 15 14:03:41
The competitive walls are closing in on $TSLA http://t.co/fWkbxb2XU7
TSLA Speedreader
28 Aug 15 13:54:13
$TSLA #Tesla Tesla Wants White House to Press China http://t.co/jdVt5Jlet6
Juan Morra
28 Aug 15 13:53:13
Here is my $tsla play ... take as many puts as i can expiring 10/16 on any price movement higher... it will tank right after 9/30 or X news
The Stock Professor
28 Aug 15 13:52:37
#Stock #News How Technology is Shaping Millennials' Investing Habits: In every sector, th... http://t.co/3GJ0fHZN4O $MU $MSFT $TSLA $AMD
Juan Diego Giraldo O
28 Aug 15 13:52:21
RT @CNNMoney: .@TeslaMotors' new Model S P85D is so good, it broke @ConsumerReports' scoring system http://t.co/nvUNoVECpv $TSLA http://t.c…
Resource Investing
28 Aug 15 13:51:13
The other $TSLA news you missed this morning amidst all the buzz about the car #lithium http://t.co/RkZM84QHYZ
Lithium News
28 Aug 15 13:51:13
The other $TSLA news you missed this morning amidst all the buzz about the car #lithium http://t.co/67Y9JsFnlE
Kevin Sharpe
28 Aug 15 13:47:04
after 9 months still no sign #Tesla "400 mile" battery that @elonmusk said would be available "this spring" https://t.co/i42P2vCtfV $TSLA
Breaking News Now
28 Aug 15 13:47:02
$F $GM $TSLA: Tesla Wants White House to Press China on Auto-Industry Rules: http://t.co/IUEMvtgme3
IH News Desk
28 Aug 15 13:46:54
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QLD ProShares Ultra QQQ Fund Summary http://t.co/rXScs8iGVg $QLD $TSLA $RUSL $FNV #QLD #stockmarket #stocks
28 Aug 15 13:42:39
#CierreMercado #Stocks Major News $AAPL +0.33% $GOOG -1.33% $FB +1.43 $MSFT +0.07% $AMNZ -0.07% $TSLA +2.26% $NFLX -0.03%
Jon Gullett
28 Aug 15 13:41:08
Not that anyone cares, but here's my portfolio post crash: $jpm $cdtx $cfrx $ba $dis $ibm $blue $espr $gild $ttph, short $tsla and others
Nerd Criollo
28 Aug 15 13:37:33
Hoy #Tesla Motors, Inc. $TSLA cerró a $248.48.
28 Aug 15 13:35:40
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28 Aug 15 13:33:21
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Stock Forums
28 Aug 15 13:33:16
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Jennifer Booton
28 Aug 15 13:32:30
RT @LinnaneCiara: Fuzzy math dept: Tesla Model S scores 103 from Consumer Reports on 100-point scale $TSLA http://t.co/JWRZIHzPoM http://t.…
Wall Street Elevator
28 Aug 15 13:32:20
Upcoming Monday is last day of month - expecting rally to close books on a positive note $AAPL $NFLX $TSLA $AMZN $BAC before pain in Sept
28 Aug 15 13:28:11
$tsla breaks $250 we see $255 and test $260 coming week
ciara linnane
28 Aug 15 13:25:38
Fuzzy math dept: Tesla Model S scores 103 from Consumer Reports on 100-point scale $TSLA http://t.co/JWRZIHzPoM http://t.co/s677RIghGQ
John Anderson
28 Aug 15 13:25:25
@MatthewMcCall $TSLA bounced back nicely, I'm up $24!
Cole Sanderson
28 Aug 15 13:24:36
Friday stocks closed with all green! Now it's time to enjoy the Blue Jays game! $uwti $tsla
28 Aug 15 13:23:18
Our account is green so far with short term swing between bull and bear. #grateful $UVXY $SPY $TSLA
28 Aug 15 13:17:52
Tickers trending on TWTR in last 1 hour $ARIA $FB $GOOG $PHM $TSLA http://t.co/bdQf2ciNWo http://t.co/Z8YoXv0L3G
TickerLens Tesla
28 Aug 15 13:16:41
Tesla Motors Inc (TSLA) Stock Update http://t.co/QWaQctvESA $TSLA
TickerLens Tesla
28 Aug 15 13:16:40
Here’s Why Tesla Motors, Inc. (NASDAQ:TSLA) Could Hit $500 http://t.co/qILh0btxiD $TSLA
28 Aug 15 13:15:10
$TSLA arriba 5% ayer y 1,13% en las noticias del lanzamiento del nuevo modelo S P85D. El carro eléctrico recibió 103 puntos en escala de 100
Teresa Matich
28 Aug 15 13:10:01
RT @cberry1: Why would $TSLA sign a deal with a lithium play with no production history?
Mārtiņš Mičulis
28 Aug 15 13:09:30
RT @acooray: Now you know part of why Musk called hydrogen fuel cells extremely silly. $TSLA vs Toyota http://t.co/hnlhCeWAH6 https://t.co/…
Puerto Finanzas
28 Aug 15 13:08:08
[Señal Twitter EN] $TSLA - http://t.co/w0BQaz60MF http://t.co/ExrSivsN1t
By  +Follow January 14, 2014 4:06PM



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