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Tesla (TSLA) Recalls 9k Model X SUVs to Fix Roof Trim Pieces
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Tesla, Inc. (TSLA - Free Report) has recalled approximately 9,100 Model X SUVs in the United States due to a potential issue with roof trim that could detach, marking the second recall for this issue since 2020. Per the National Highway Traffic Safety Administration, the front and center roof trim pieces might have been attached without primer, which could lead to them separating from the vehicle, creating a road hazard and increasing the risk of a crash.
The recall affects Model X vehicles from the 2016 model year. Tesla reported that the supplier implemented a process change in July 2016 to prevent this issue in later models. To address the voluntary recall, Tesla Service will test the roof trim adhesion and reattach the trim pieces as necessary, free of charge.
Since 2022, TSLA has been investigating reports of issues involving vehicles that had already undergone the recall remedy and has conducted aging tests, including those involving heat and humidity. According to Reuters, Tesla determined that the 2020 recall remedy was insufficient for identifying cosmetic roof trim pieces that might detach due to a lack of primer.
Per Tesla, there are approximately 170 reports and claims that could be related to this issue but there have been no reports of crashes or injuries related to it. This recall is uncommon for Tesla, as the automaker typically addresses issues through over-the-air software updates rather than physical recalls.
Per the recall management platform developer Bizzycar, in the first half of the year, Tesla recalled around 2.6 million vehicles due to safety concerns, following Ford, which recalled about 3.6 million vehicles in the United States. In June, TSLA also recalled its latest model, the Cybertruck, due to truck bed trim that could come loose and create road hazards, marking the fourth recall for the majority of all Cybertrucks produced.
The consensus estimate for DORM’s 2024 sales and earnings suggests year-over-year growth of 3.71% and 35.46%, respectively. EPS estimates for 2024 and 2025 have improved 51 cents and 37 cents, respectively, in the past 30 days.
The Zacks Consensus Estimate for BLBD’s 2024 sales and earnings suggests year-over-year growth of 17.58% and 215.89%, respectively. EPS estimates for 2024 and 2025 have improved 65 cents and 80 cents, respectively, in the past 30 days.
The Zacks Consensus Estimate for PLOW’s 2024 sales and earnings suggests year-over-year growth of 6.45% and 60.4%, respectively. EPS estimates for 2024 and 2025 have improved 15 cents and 2 cents, respectively, in the past 30 days.
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Tesla (TSLA) Recalls 9k Model X SUVs to Fix Roof Trim Pieces
Tesla, Inc. (TSLA - Free Report) has recalled approximately 9,100 Model X SUVs in the United States due to a potential issue with roof trim that could detach, marking the second recall for this issue since 2020. Per the National Highway Traffic Safety Administration, the front and center roof trim pieces might have been attached without primer, which could lead to them separating from the vehicle, creating a road hazard and increasing the risk of a crash.
The recall affects Model X vehicles from the 2016 model year. Tesla reported that the supplier implemented a process change in July 2016 to prevent this issue in later models. To address the voluntary recall, Tesla Service will test the roof trim adhesion and reattach the trim pieces as necessary, free of charge.
Since 2022, TSLA has been investigating reports of issues involving vehicles that had already undergone the recall remedy and has conducted aging tests, including those involving heat and humidity. According to Reuters, Tesla determined that the 2020 recall remedy was insufficient for identifying cosmetic roof trim pieces that might detach due to a lack of primer.
Per Tesla, there are approximately 170 reports and claims that could be related to this issue but there have been no reports of crashes or injuries related to it. This recall is uncommon for Tesla, as the automaker typically addresses issues through over-the-air software updates rather than physical recalls.
Per the recall management platform developer Bizzycar, in the first half of the year, Tesla recalled around 2.6 million vehicles due to safety concerns, following Ford, which recalled about 3.6 million vehicles in the United States. In June, TSLA also recalled its latest model, the Cybertruck, due to truck bed trim that could come loose and create road hazards, marking the fourth recall for the majority of all Cybertrucks produced.
Zacks Rank & Key Picks
TSLA currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the auto space are Dorman Products, Inc. (DORM - Free Report) , Blue Bird Corporation (BLBD - Free Report) and Douglas Dynamics, Inc. (PLOW - 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 DORM’s 2024 sales and earnings suggests year-over-year growth of 3.71% and 35.46%, respectively. EPS estimates for 2024 and 2025 have improved 51 cents and 37 cents, respectively, in the past 30 days.
The Zacks Consensus Estimate for BLBD’s 2024 sales and earnings suggests year-over-year growth of 17.58% and 215.89%, respectively. EPS estimates for 2024 and 2025 have improved 65 cents and 80 cents, respectively, in the past 30 days.
The Zacks Consensus Estimate for PLOW’s 2024 sales and earnings suggests year-over-year growth of 6.45% and 60.4%, respectively. EPS estimates for 2024 and 2025 have improved 15 cents and 2 cents, respectively, in the past 30 days.