Tesla Tumbles After-Hours On Massive Model S Recall

Sometimes it's just not your week.

On top of crashed cars, autonomous vehicle fatalities, production targets plunging, and ratings downgrades, Elon Musk's car-making company is tumbling after-hours following reports of the recall of 123,000 Model S Sedans.

AP reports  that Tesla is recalling 123,000 sedans worldwide to fix a problem with the power-assisted steering.

The recall covers all Model S sedans built before April of 2016.

Three bolts holding the power steering motor in place can corrode and either come loose or break, possibly causing a loss of power steering. Manual steering would still work.

Tesla says the problem happens infrequently in places where salt is used to clear snow and ice from roads. It's recalling all the cars even in warm-weather states just in case.

No crashes or injuries have been reported.

Service centers will replace the bolts with ones that are more corrosion-resistant. Owners will be notified Thursday by email. Tesla says replacement parts will be available first in cold-weather areas, then in warmer climates.

And the reaction is clear after-hours...

 

As the company's stock gives up all of today's day-session gains and reverts back towards the bond-market's view...

 

Stormier weather in Muskville...

Comments

Mr. Universe Schlomo Shekelstein Thu, 03/29/2018 - 18:43 Permalink

On a personal note, he sent out cigars on the announcement of his Dad's step-daughter giving birth to their new son. Ok, so he didn't. But Dad swore it was just one-off. I don't think Elon is buying

“My dad will have a carefully thought-out plan of evil. He will plan evil. Almost every crime you can possibly think of, he has done. Almost every evil thing you could possibly think of, he has done. It’s so terrible, you can’t believe it.”

In reply to by Schlomo Shekelstein

whatswhat1@yahoo.com El Hosel Thu, 03/29/2018 - 20:32 Permalink

"You should expect to get what You ask for. However, if you don't ask for very much, DON'T (ever) expect to get very much."

 

"It is unwise to pay too much for something. However, it is MORE unwise to pay too little and expect the same; for you risk not getting what you need. However IF you persist on this approach, all you risk is the F*ing wings breaking off."

In reply to by El Hosel

Beans Mr. Universe Thu, 03/29/2018 - 19:13 Permalink

"He will plan evil"?? Bwahahahahaha

The details of my life are quite inconsequential... very well, where do I begin? My father was a relentlessly self-improving boulangerie owner from Belgium with low grade narcolepsy and a penchant for buggery. My mother was a fifteen year old French prostitute named Chloe with webbed feet.

My father would womanize, he would drink. He would make outrageous claims like he invented the question mark. Sometimes he would accuse chestnuts of being lazy. The sort of general malaise that only the genius possess and the insane lament. My childhood was typical. Summers in Rangoon, luge lessons. In the spring we'd make meat helmets. When I was insolent I was placed in a burlap bag and beaten with reeds- pretty standard really.

At the age of twelve I received my first scribe. At the age of fourteen a Zoroastrian named Vilma ritualistically shaved my testicles. There really is nothing like a shorn scrotum... it's breathtaking- I highly suggest you try it.

In reply to by Mr. Universe