We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Tesla (TSLA) Recalls Nearly 12K Cybertrucks in Latest Setback
Read MoreHide Full Article
Tesla, Inc. (TSLA - Free Report) has issued two additional recalls for its Cybertruck pickups in the United States. The automaker still struggles with the challenges associated with the new EV roughly six months after deliveries began.
The third and fourth recalls for the Cybertruck require physical repairs, necessitating appointments with Tesla service centers. One recall addresses issues with trim pieces that can loosen and fall off the trunk, while the other involves faulty motor controllers in the front windshield wipers. Nearly all of the 12,000 Cybertrucks on the road are affected by the recall.
Per a report by the National Highway Traffic Safety Administration (NHTSA), if a trim piece detaches while driving, it could create a road hazard and increase the risk of injury or collision for other motorists. Tesla plans to replace or rework the trim piece to ensure sufficient adhesion.
Per another report by NHTSA, some vehicles have a front windshield wiper motor controller that may fail due to electrical overstress, reducing visibility and increasing the risk of a collision. Tesla will replace the motor controller for affected customers. Cybertruck owners will be asked to bring their trucks to a service center for these repairs, with notifications beginning in mid-August.
The Cybertruck, unveiled by CEO Elon Musk four years ago and initially slated for production two years later, began limited deliveries in November during a launch event in Austin, TX.
Previous Cybertruck recalls include an April recall for a sticking accelerator pedal and a January software recall for 2.2 million vehicles, including Cybertrucks, due to small warning light letters, which was resolved with an over-the-air software update.
The Cybertruck, Tesla’s first entry in the U.S. pickup market, competes with the Ford F-150 Lightning and Rivian R1T.
Per Tesla, the Cybertruck production capacity exceeded 125,000 units per year. During Tesla’s annual shareholder meeting earlier this month, Musk announced a record of 1,300 Cybertruck shipments in one week. The company is going through a broad restructuring, including a headcount reduction of at least 14%.
The consensus estimate for BLBD’s 2024 sales and earnings suggests year-over-year growth of 17.29% and 155.14%, respectively. The EPS estimates for 2024 and 2025 have improved 63 cents and 69 cents, respectively, in the past 60 days.
The Zacks Consensus Estimate for OSK’s 2024 sales and earnings suggests year-over-year growth of 9.86% and 11.92%, respectively. The EPS estimates for 2024 and 2025 have improved 12 cents and 10 cents, respectively, in the past 30 days.
The Zacks Consensus Estimate for AXL’s 2024 sales and earnings suggests year-over-year growth of 3.05% and 544.44%, respectively. The EPS estimates for 2024 have moved up 6 cents in the past 60 days. The EPS estimates for 2025 have moved up 5 cents in the past seven days.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Tesla (TSLA) Recalls Nearly 12K Cybertrucks in Latest Setback
Tesla, Inc. (TSLA - Free Report) has issued two additional recalls for its Cybertruck pickups in the United States. The automaker still struggles with the challenges associated with the new EV roughly six months after deliveries began.
The third and fourth recalls for the Cybertruck require physical repairs, necessitating appointments with Tesla service centers. One recall addresses issues with trim pieces that can loosen and fall off the trunk, while the other involves faulty motor controllers in the front windshield wipers. Nearly all of the 12,000 Cybertrucks on the road are affected by the recall.
Per a report by the National Highway Traffic Safety Administration (NHTSA), if a trim piece detaches while driving, it could create a road hazard and increase the risk of injury or collision for other motorists. Tesla plans to replace or rework the trim piece to ensure sufficient adhesion.
Per another report by NHTSA, some vehicles have a front windshield wiper motor controller that may fail due to electrical overstress, reducing visibility and increasing the risk of a collision. Tesla will replace the motor controller for affected customers. Cybertruck owners will be asked to bring their trucks to a service center for these repairs, with notifications beginning in mid-August.
The Cybertruck, unveiled by CEO Elon Musk four years ago and initially slated for production two years later, began limited deliveries in November during a launch event in Austin, TX.
Previous Cybertruck recalls include an April recall for a sticking accelerator pedal and a January software recall for 2.2 million vehicles, including Cybertrucks, due to small warning light letters, which was resolved with an over-the-air software update.
The Cybertruck, Tesla’s first entry in the U.S. pickup market, competes with the Ford F-150 Lightning and Rivian R1T.
Per Tesla, the Cybertruck production capacity exceeded 125,000 units per year. During Tesla’s annual shareholder meeting earlier this month, Musk announced a record of 1,300 Cybertruck shipments in one week. The company is going through a broad restructuring, including a headcount reduction of at least 14%.
Zacks Rank & Key Picks
TSLA currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the auto space are Blue Bird Corporation (BLBD - Free Report) , Oshkosh Corporation (OSK - Free Report) and American Axle & Manufacturing Holdings, Inc. (AXL - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The consensus estimate for BLBD’s 2024 sales and earnings suggests year-over-year growth of 17.29% and 155.14%, respectively. The EPS estimates for 2024 and 2025 have improved 63 cents and 69 cents, respectively, in the past 60 days.
The Zacks Consensus Estimate for OSK’s 2024 sales and earnings suggests year-over-year growth of 9.86% and 11.92%, respectively. The EPS estimates for 2024 and 2025 have improved 12 cents and 10 cents, respectively, in the past 30 days.
The Zacks Consensus Estimate for AXL’s 2024 sales and earnings suggests year-over-year growth of 3.05% and 544.44%, respectively. The EPS estimates for 2024 have moved up 6 cents in the past 60 days. The EPS estimates for 2025 have moved up 5 cents in the past seven days.