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Tesla and General Motors Both Facing Fire-Related Recalls

By  +Follow January 14, 2014 4:06PM
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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.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.


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Results for TSLA
alvaro
24 Oct 14 05:45:45
RT @philstockworld: Friday's Fearful Outlook as #Ebola Hits NYC: $SPY $DIA $AMZN $TSLA $TM #Amazon -- http://t.co/UIMDFJvSW2 http://t.co/VN…
Dennis
24 Oct 14 05:45:44
RT @philstockworld: Friday's Fearful Outlook as #Ebola Hits NYC: $SPY $DIA $AMZN $TSLA $TM #Amazon -- http://t.co/UIMDFJvSW2 http://t.co/VN…
CocoCouture
24 Oct 14 05:43:58
RT @philstockworld: Friday's Fearful Outlook as #Ebola Hits NYC: $SPY $DIA $AMZN $TSLA $TM #Amazon -- http://t.co/UIMDFJvSW2 http://t.co/VN…
Wincrease Team
24 Oct 14 05:43:55
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Sean
24 Oct 14 05:43:22
RT @philstockworld: Friday's Fearful Outlook as #Ebola Hits NYC: $SPY $DIA $AMZN $TSLA $TM #Amazon -- http://t.co/UIMDFJvSW2 http://t.co/VN…
Bidness Etc
24 Oct 14 05:42:19
First Daimler, Now Toyota Dumps Tesla’s Shares - http://t.co/1XKHILU4AA $TSLA
Horacio J. Buenano
24 Oct 14 05:40:49
$TSLA Toyota (NYSE:TM) is now the next automaker to sell a stake in Tesla, although it did not disclose the timing or amount of the sale.
David &
24 Oct 14 05:40:35
RT @philstockworld: Friday's Fearful Outlook as #Ebola Hits NYC: $SPY $DIA $AMZN $TSLA $TM #Amazon -- http://t.co/UIMDFJvSW2 http://t.co/VN…
Motown Leo
24 Oct 14 05:40:28
RT @philstockworld: Friday's Fearful Outlook as #Ebola Hits NYC: $SPY $DIA $AMZN $TSLA $TM #Amazon -- http://t.co/UIMDFJvSW2 http://t.co/VN…
Booney
24 Oct 14 05:40:07
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Meghan Hakey
24 Oct 14 05:39:15
RT @philstockworld: Friday's Fearful Outlook as #Ebola Hits NYC: $SPY $DIA $AMZN $TSLA $TM #Amazon -- http://t.co/UIMDFJvSW2 http://t.co/VN…
Quantpost Cnsmr Good
24 Oct 14 05:38:59
$TSLA News: "Did BMW snap up Daimler's Tesla stake? #premarket $BAMXY $TSLA …" http://t.co/PTbIFxgs19 Board view: https://t.co/uZBKM9JovH
MarketCurrents
24 Oct 14 05:38:57
Did BMW snap up Daimler's Tesla stake? http://t.co/DLPjTQOFGS #premarket $BAMXY $TSLA $DDAIF
Quang Doan
24 Oct 14 05:38:40
$TSLA earning is on 11/04. wow.... 192 is coming.
Dave Robus
24 Oct 14 05:38:35
RT @philstockworld: Friday's Fearful Outlook as #Ebola Hits NYC: $SPY $DIA $AMZN $TSLA $TM #Amazon -- http://t.co/UIMDFJvSW2 http://t.co/VN…
Quang Doan
24 Oct 14 05:37:25
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jessica
24 Oct 14 05:37:24
RT @philstockworld: Friday's Fearful Outlook as #Ebola Hits NYC: $SPY $DIA $AMZN $TSLA $TM #Amazon -- http://t.co/UIMDFJvSW2 http://t.co/VN…
Carolyn B Miciano
24 Oct 14 05:37:08
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Trevor Gott
24 Oct 14 05:37:01
RT @philstockworld: Friday's Fearful Outlook as #Ebola Hits NYC: $SPY $DIA $AMZN $TSLA $TM #Amazon -- http://t.co/UIMDFJvSW2 http://t.co/VN…
Jessica Arnold
24 Oct 14 05:35:55
RT @philstockworld: Friday's Fearful Outlook as #Ebola Hits NYC: $SPY $DIA $AMZN $TSLA $TM #Amazon -- http://t.co/UIMDFJvSW2 http://t.co/VN…
Gabriel
24 Oct 14 05:35:08
RT @philstockworld: Friday's Fearful Outlook as #Ebola Hits NYC: $SPY $DIA $AMZN $TSLA $TM #Amazon -- http://t.co/UIMDFJvSW2 http://t.co/VN…
Quang Doan
24 Oct 14 05:34:42
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Guru Algo Trading
24 Oct 14 05:34:12
RT $AMZN Algos BROKE 280 LEVEL in SIGMA-X, CROSSFINDER, LTS, P/T 265.00 $MSFT $PCLN $GOOG $FB $TWTR $GPRO $NFLX $TSLA $AAPL $QQQ #HFT
tradewithjoe
24 Oct 14 05:34:07
RT @Street_Insider: More: Daimler Sells 4% Stake in Tesla $TSLA http://t.co/OVNcHPS3Zh
jon green
24 Oct 14 05:33:16
RT @philstockworld: Friday's Fearful Outlook as #Ebola Hits NYC: $SPY $DIA $AMZN $TSLA $TM #Amazon -- http://t.co/UIMDFJvSW2 http://t.co/VN…
Guru Algo Trading
24 Oct 14 05:32:55
RT $AMZN Algos triggered SELL in SIGMA-X, CROSSFINDER, LTS @ 08:32, P/T 265.00 $MSFT $PCLN $GOOG $FB $TWTR $GPRO $NFLX $TSLA $AAPL $QQQ #HFT
NCBellydance
24 Oct 14 05:32:40
RT @philstockworld: Friday's Fearful Outlook as #Ebola Hits NYC: $SPY $DIA $AMZN $TSLA $TM #Amazon -- http://t.co/UIMDFJvSW2 http://t.co/VN…
TakedownWrestlingApp
24 Oct 14 05:31:52
RT @philstockworld: Friday's Fearful Outlook as #Ebola Hits NYC: $SPY $DIA $AMZN $TSLA $TM #Amazon -- http://t.co/UIMDFJvSW2 http://t.co/VN…
Roxane
24 Oct 14 05:31:24
RT @philstockworld: Friday's Fearful Outlook as #Ebola Hits NYC: $SPY $DIA $AMZN $TSLA $TM #Amazon -- http://t.co/UIMDFJvSW2 http://t.co/VN…
3 Birds Designs
24 Oct 14 05:28:46
RT @philstockworld: Friday's Fearful Outlook as #Ebola Hits NYC: $SPY $DIA $AMZN $TSLA $TM #Amazon -- http://t.co/UIMDFJvSW2 http://t.co/VN…
Gr8 Trades
24 Oct 14 05:27:41
$AAPL $AMZN $BIDU $FB $GILD $GMCR $GOOG $GPRO $GS $IWM $LNKD $MBLY $NFLX $PCLN $QQQ $SPY $TSLA $VXX 8:27:42 AM
Skid Vis
24 Oct 14 05:27:38
RT @philstockworld: Friday's Fearful Outlook as #Ebola Hits NYC: $SPY $DIA $AMZN $TSLA $TM #Amazon -- http://t.co/UIMDFJvSW2 http://t.co/VN…
Wauwatosa West
24 Oct 14 05:26:59
RT @philstockworld: Friday's Fearful Outlook as #Ebola Hits NYC: $SPY $DIA $AMZN $TSLA $TM #Amazon -- http://t.co/UIMDFJvSW2 http://t.co/VN…
Joe Wirtheim
24 Oct 14 05:26:12
RT @philstockworld: Friday's Fearful Outlook as #Ebola Hits NYC: $SPY $DIA $AMZN $TSLA $TM #Amazon -- http://t.co/UIMDFJvSW2 http://t.co/VN…
Rusty DeWaters
24 Oct 14 05:25:21
RT @philstockworld: Friday's Fearful Outlook as #Ebola Hits NYC: $SPY $DIA $AMZN $TSLA $TM #Amazon -- http://t.co/UIMDFJvSW2 http://t.co/VN…
Gary
24 Oct 14 05:24:36
RT @philstockworld: Friday's Fearful Outlook as #Ebola Hits NYC: $SPY $DIA $AMZN $TSLA $TM #Amazon -- http://t.co/UIMDFJvSW2 http://t.co/VN…
Dan dean
24 Oct 14 05:23:59
RT @philstockworld: Friday's Fearful Outlook as #Ebola Hits NYC: $SPY $DIA $AMZN $TSLA $TM #Amazon -- http://t.co/UIMDFJvSW2 http://t.co/VN…
Bryan Whelan
24 Oct 14 05:23:04
RT @philstockworld: Friday's Fearful Outlook as #Ebola Hits NYC: $SPY $DIA $AMZN $TSLA $TM #Amazon -- http://t.co/UIMDFJvSW2 http://t.co/VN…
Leander ISD
24 Oct 14 05:22:15
RT @philstockworld: Friday's Fearful Outlook as #Ebola Hits NYC: $SPY $DIA $AMZN $TSLA $TM #Amazon -- http://t.co/UIMDFJvSW2 http://t.co/VN…
Guru Algo Trading
24 Oct 14 05:22:05
RT $AMZN investors are fed up $AAPL $FB $GOOG $TSLA $NFLX $MSFT $QQQ http://t.co/AR33C8b9Vg …
Bastrop ISD
24 Oct 14 05:18:41
RT @philstockworld: Friday's Fearful Outlook as #Ebola Hits NYC: $SPY $DIA $AMZN $TSLA $TM #Amazon -- http://t.co/UIMDFJvSW2 http://t.co/VN…
Daniel
24 Oct 14 05:17:59
RT @philstockworld: Friday's Fearful Outlook as #Ebola Hits NYC: $SPY $DIA $AMZN $TSLA $TM #Amazon -- http://t.co/UIMDFJvSW2 http://t.co/VN…
Guru Algo Trading
24 Oct 14 05:17:17
RT $AMZN Algos triggered SELL in SIGMA-X, CROSSFINDER, LTS @ 08:17, P/T 265.00 $MSFT $PCLN $GOOG $FB $TWTR $GPRO $NFLX $TSLA $AAPL $QQQ #HFT
Joe Caporoso
24 Oct 14 05:17:11
RT @philstockworld: Friday's Fearful Outlook as #Ebola Hits NYC: $SPY $DIA $AMZN $TSLA $TM #Amazon -- http://t.co/UIMDFJvSW2 http://t.co/VN…
4SQ Central
24 Oct 14 05:16:22
RT @philstockworld: Friday's Fearful Outlook as #Ebola Hits NYC: $SPY $DIA $AMZN $TSLA $TM #Amazon -- http://t.co/UIMDFJvSW2 http://t.co/VN…
Dave
24 Oct 14 05:15:22
RT @philstockworld: Friday's Fearful Outlook as #Ebola Hits NYC: $SPY $DIA $AMZN $TSLA $TM #Amazon -- http://t.co/UIMDFJvSW2 http://t.co/VN…
Kayla
24 Oct 14 05:13:59
RT @philstockworld: Friday's Fearful Outlook as #Ebola Hits NYC: $SPY $DIA $AMZN $TSLA $TM #Amazon -- http://t.co/UIMDFJvSW2 http://t.co/VN…
Stock Forums
24 Oct 14 05:13:51
$BBRY Yield Click Here: http://t.co/tHnCE6NdpL Also See: $WLOC $MINE $WTCG $TSLA ~
Guru Algo Trading
24 Oct 14 05:13:27
RT $AMZN Algos triggered SELL in SIGMA-X, CROSSFINDER, LTS @ 08:10, P/T 265.00 $MSFT $PCLN $GOOG $FB $TWTR $GPRO $NFLX $TSLA $AAPL $QQQ #HFT
Davo.Trippy
24 Oct 14 05:12:15
RT @philstockworld: Friday's Fearful Outlook as #Ebola Hits NYC: $SPY $DIA $AMZN $TSLA $TM #Amazon -- http://t.co/UIMDFJvSW2 http://t.co/VN…
				
				
By  +Follow January 14, 2014 4:06PM
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