logo
Sign in or Register

Already a member?

Sign in

Or sign in with your account on:

Not a member yet?

Register
    

 


Tesla and General Motors Both Facing Fire-Related Recalls

By  +Follow January 14, 2014 4:06PM
Share:
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.

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. To read our full disclosure, please go to: http://www.equities.com/disclaimer


Liked What You Read? Join Equities.com and Connect With Your Favorite Financial Experts FOR FREE! Members of Equities.com gain access to our leading financial news and content, active social investment community, proprietary research tools including the 2014 Small-Cap Stars, E.V.A. reports and more.

Results for TSLA
LearnBonds.com
29 Jul 15 10:02:25
Tesla Motors Inc (TSLA) China Rival Youxia X Is Just Smoke and a Mirror $TSLA #tesla http://t.co/6OS90pq6ZL
binaryoptionsocial
29 Jul 15 10:02:23
Be on the right side of the trade $SPY $QQQ $DIA $IWM $GLD $GDX $USO $AAPL $FB $NFLX $BBRY $TSLA $NFLX $FXI $SHAK … http://t.co/Csk7miIhta
tradewithjoe
29 Jul 15 10:00:11
Be on the right side of the trade $SPY $QQQ $DIA $IWM $GLD $GDX $USO $AAPL $FB $NFLX $BBRY $TSLA $NFLX $FXI $SHAK - http://t.co/ohq218DujR
chartguy89
29 Jul 15 10:00:00
TSLA -0.63% Stock Charts $TSLA Tesla Motors Inc. (NASDAQ) Last Updated: 07/29/2015 11:59:59 TSLA Stock Chart - http://t.co/oC10Iymcw7
kenr0966
29 Jul 15 09:54:44
RT @canuck2usa: $TSLA 16$ off low the other day
Lucky Jimmy
29 Jul 15 09:51:11
VXX iPath S&P 500 VIX Short-Term Futures ETN Ask http://t.co/m2n2av5gof $VXX $JNJ $CVC $TSLA #VXX #stocks #stocks
clayton
29 Jul 15 09:51:10
XLE Energy Select Sector SPDR Last Trade http://t.co/Xqys1xEQZq $XLE $TSLA $UUP $GPRO #XLE #stockmarket #stocks
Stock_Tracker
29 Jul 15 09:51:07
XLB Materials Select Sector SPDR P/E Ratio http://t.co/jSLembt9jE $XLB $FEYE $TSLA $GDXJ #XLB #pennystocks #nasdaq
DennyT
29 Jul 15 09:51:06
XOMA XOMA Ltd. Ideas http://t.co/wIRg2Gq4EY $XOMA $XLY $F $TSLA #XOMA #stockmarket #stock
Investors Hangout
29 Jul 15 09:50:59
XOM Exxon Mobil Corp. Investor Opinions http://t.co/VhaFiKktxi $XOM $TSLA $DY $TZA #XOM #stockmarket #share
IH NASDAQ OMX
29 Jul 15 09:50:29
VDSI VASCO Data Security Intl, Inc. Open http://t.co/xX0fnUN38O $VDSI $NEM $TSLA $SWKS #VDSI #finance #stockmarket
Jake13
29 Jul 15 09:50:21
TSLA Tesla Motors Inc. Ask http://t.co/Y2ypxBGB32 $TSLA $XEI.TO $DATA $JBLU #TSLA #pennystocks #pennystocks
jim50
29 Jul 15 09:50:06
UWTI VelocityShares 3x Long Crude ETN Open http://t.co/eXJtMe2cq9 $UWTI $CVX $TSLA $CX #UWTI #nasdaq #investing
leahanne
29 Jul 15 09:49:23
TASR TASER Intl Inc. Quotes http://t.co/8xxiukAXjz $TASR $DUST $TSLA $AKS #TASR #invest #share
Jake13
29 Jul 15 09:49:20
SGG iPath Bloomberg Sugar Subindex Total Return ETN Message Board Posts http://t.co/TdVktJfo7x $SGG $TSLA $TVIX $BWLD #SGG #finance…
Investors Hangout
29 Jul 15 09:49:17
TSLA Tesla Motors Inc. Filings http://t.co/TjIw2DjxCZ $TSLA $BMY $UUP $SSO #TSLA #tradeideas #tradeideas
jim50
29 Jul 15 09:48:49
TSLA Tesla Motors Inc. E.P.S. http://t.co/ui5DzvGVU0 $TSLA $HZNP $TLT $SH #TSLA #stockmarket #share
nasdaqfan
29 Jul 15 09:48:47
SGY.TO Surge Energy Inc. Stock Forum http://t.co/WxZuDWkb04 $SGY.TO $TSLA $EEM $GEVO #SGY.TO #invest #nasdaq
Stock_Tracker
29 Jul 15 09:48:39
TSLA Tesla Motors Inc. Dividend http://t.co/l9dqmhgO0j $TSLA $SDS $XEI.TO $CTLE #TSLA #share #nasdaq
DennyT
29 Jul 15 09:48:27
TSLA Tesla Motors Inc. Day High http://t.co/Xcz52yfwiw $TSLA $EEM $AMGN $HYG #TSLA #finance #finance
danrocks
29 Jul 15 09:48:12
TVIX VelocityShares Daily 2x VIX Short Term ETN Company Info http://t.co/nRfwohWur7 $TVIX $GEVO $TSLA $JBLU #TVIX #tradeideas…
Investors Hangout
29 Jul 15 09:48:10
TSLA Tesla Motors Inc. Ask http://t.co/gxZvgKJsPG $TSLA $SQQQ $YELP $IBM #TSLA #pennystocks #pennystocks
Stock Forums
29 Jul 15 09:48:09
TSLA Tesla Motors Inc. Prev Close http://t.co/myxwxIWvQj $TSLA $PCLN $HGU.TO $KMI #TSLA #stocks #nasdaq
IH NASDAQ OMX
29 Jul 15 09:47:37
TSLA Tesla Motors Inc. News http://t.co/7P5kSkwL0j $TSLA $GEVO $UNG $AXP #TSLA #share #pennystocks
Emylers
29 Jul 15 09:47:37
TSLA Tesla Motors Inc. EOD Data http://t.co/McQ80bYswe $TSLA $RIG $SALT $UUP #TSLA #pennystocks #share
danrocks
29 Jul 15 09:47:37
TSLA Tesla Motors Inc. Summary http://t.co/1BekawSMV4 $TSLA $CHK $NYMX $INUV #TSLA #tradeideas #stocks
PolgarStocks
29 Jul 15 09:47:36
TSLA Tesla Motors Inc. Bid Size http://t.co/oWk3L6KIte $TSLA $OSK $BMY $IYT #TSLA #stocks #finance
Rosner Stocks
29 Jul 15 09:47:35
TSLA Tesla Motors Inc. Ex-Div Date http://t.co/awWvLmArDe $TSLA $MYEC $ARCP $NBD.TO #TSLA #investing #stocks
Investors Hangout
29 Jul 15 09:47:33
SSO ProShares Ultra S&P 500 Fund Investor Opinions http://t.co/hc7YbvLIxz $SSO $TSLA $G.TO $UWTI #SSO #stock #stocks
Rosner Stocks
29 Jul 15 09:47:17
TASR TASER Intl Inc. Market Cap http://t.co/L14ZPkAsbq $TASR $TSLA $TSLA $FB #TASR #stock #pennystocks
Emylers
29 Jul 15 09:47:17
RSP Guggenheim S&P 500 Equal Weight ETF Quotes http://t.co/jXFbs1Z2ql $RSP $HLF $INUV $TSLA #RSP #invest #nasdaq
Jake13
29 Jul 15 09:46:17
JNUG Direxion Daily Junior Gold Miners Index Bull 3X Shares Bid http://t.co/i29u7szCEv $JNUG $INTC $TSLA $PCLN #JNUG #pennystocks…
IH NASDAQ OMX
29 Jul 15 09:46:15
SH ProShares Short S&P 500 Fund Ask http://t.co/YDMkVJCYzY $SH $VDSI $TSLA $VXX #SH #stock #pennystocks
Investors Hangout
29 Jul 15 09:46:05
SGG iPath Bloomberg Sugar Subindex Total Return ETN EOD Data http://t.co/s1HjnNgUMi $SGG $EWZ $UPRO $TSLA #SGG #investing #stocks
jim50
29 Jul 15 09:46:03
JPM J.P. Morgan Chase & Co. Bid http://t.co/MlNkbTHUMl $JPM $TSLA $UWTI $BABA #JPM #investing #finance
Lucky Jimmy
29 Jul 15 09:44:41
HLF Herbalife Ltd. Quotes http://t.co/KAuvTfQ2JX $HLF $EA $KRE $TSLA #HLF #stockmarket #invest
Tommy P.
29 Jul 15 09:44:03
$TSLA support at the 50-day. Reports on 8/5
Rosner Stocks
29 Jul 15 09:41:34
JNUG Direxion Daily Junior Gold Miners Index Bull 3X Shares Ideas http://t.co/GPZ8R0CcqW $JNUG $TSLA $F $LVS #JNUG #invest #stock
IH News Desk
29 Jul 15 09:41:33
IYR Real Estate iShares Day High http://t.co/juSJcqmKj6 $IYR $FEYE $TSLA $FV #IYR #pennystocks #nasdaq
IH News Desk
29 Jul 15 09:41:11
IBB Biotech iShares Message Board Posts http://t.co/MkSKJCUAf5 $IBB $TSLA $SMF.TO $ERX #IBB #pennystocks #finance
PolgarStocks
29 Jul 15 09:36:05
DDD 3D Systems Corp. Change http://t.co/AjtCtYuH8C $DDD $MET $AKAM $TSLA #DDD #nasdaq #investing
Stock Forums
29 Jul 15 09:35:37
CX Cemex SA Open http://t.co/UUHlhU5swh $CX $JUNO $TSLA $NEM #CX #stockmarket #pennystocks
Emylers
29 Jul 15 09:35:34
CRR Carbo Ceramics, Inc. Market Cap http://t.co/qyLsVfqPjF $CRR $PBR $TSLA $UR.TO #CRR #investing #finance
leahanne
29 Jul 15 09:35:17
CTXS Citrix Systems, Inc. Last Price http://t.co/x2NAcFTEpZ $CTXS $BX $MET $TSLA #CTXS #tradeideas #tradeideas
DennyT
29 Jul 15 09:35:17
C Citigroup, Inc. Quotes http://t.co/97UIiA5isS $C $AMZN $TSLA $VLO #C #stock #pennystocks
Stock Forums
29 Jul 15 09:32:35
AXP American Express Co. Stock Message Board http://t.co/cEmGASSLax $AXP $TSLA $HYG $IBM #AXP #nasdaq #pennystocks
ChartGuysDan
29 Jul 15 09:32:23
$TSLA Annotated Chart 7/29/2015 http://t.co/K6TFtP62YE http://t.co/EptBetz2FZ
Teslaliving
29 Jul 15 09:30:03
$TSLA current stock price: $264.00. #Tesla #TeslaStock @TeslaratiApp #bot http://t.co/APNitIpYde
Gr8wklyoptions
29 Jul 15 09:28:30
$TSLA_080715P250 Qty 319 at 6 Ask $ 191400 Vol 446 OI 699 TimeOfTrade 12:28:28 PM Exp is past Earnings in 7 days
Mark B. Spiegel
29 Jul 15 09:26:20
When will Teslarians overcome the illusion that $TSLA has anything sustainably proprietary? When they do... collapse https://t.co/T5lLTe1twt
				
				
By  +Follow January 14, 2014 4:06PM
Share:

Comments

 

blog comments powered by Disqus

 Today's Must Reads

5 Small-Cap Energy with Hedges to Survive Oil's Bear Market


DraftKings and FanDuel: The New Face of Legalized Online Sports Betting

Is the Market Paying the Toll of Tech?

What Will Uber Look Like in the Future?


How Dodd-Frank Divides Political Parties Prior to 2016 Election

 

Apple (AAPL) is expected to announce its latest quarterly earnings next week. As the most valuable company by mark... in Equities.com's Hangs on LockerDome

About us

Equities.com is an advanced financial data portal and social network designed to connect self-directed investors with the world’s most innovative startup and small cap companies. Through our in-depth coverage of small cap markets, comprehensive research and stock valuation reports, state of the art issuer products, and world class events, Equities.com provides the social tools and insight that drive tomorrow’s investment relationships and opportunities.

Market Data powered by QuoteMedia.
Copyright © QuoteMedia. Data delayed 15 minutes unless otherwise indicated. Terms of Use.

Login or Register

LOG IN