The auto making company has been downgraded by Consumer Reports magazine following a survey on the Model S vehicle
Tesla Motors was recently seen witnessing one of the biggest dips of all times in which it fell by a massive 9 percent in a single trading session held on Tuesday, October 20. This fall in the share value was due to the downgrade it received from Consumer Reports magazine for its Model S sedan with a new title of a car which is ‘worse-than-average’. This title was suggested by the Magazine to the auto making company’s most popular electric car after a thorough survey that was carried out by it based on research made on around 1,400 SUVs. Following the research, it was seen that a couple of problems were seen to be reported by the firm in which the issues were with the sunroof, the hatch of the car along with the most basic part of the car: the charging part.
According to the report released for the Tesla car, it was seen that the Model S was deemed as an electric vehicle which was emerging everyday with new problems for the customers, which was also something that was putting them off the edge. The survey also showed that a huge number of people, who owned the Model S car, were seen to end up having their electric motor replaced with a new one due to the high number of problems taking place within it.
As Reuters reported, this was relatively the first time that the car maker received such a negative title on its smart cars which is why Tesla stock reacted violently to the ratings, and that too in a very colossal manner. The same magazine carried out another survey on the auto company back in the month of August which resulted in it received a rating of 103 out of a 100 points for performance and this was also seen as a record breaking moment for the luxury cars makers as before that time, no other auto company attained such a high rating from the magazine.
As for the software system of its cars, Tesla P85D, it has clearly been stated as the best experience that the customers could ever have and this is something that the analysts still believe in. The experience was considered as the best one because of two important reasons, in which one was how the giant’s vehicle was an electric one and the other one was how it costed around $100,000 only to be offering such a high technology service to the customers riding the smart cars. However, the recent downgrade is believed to be coming from the compromises the giant is believed to be making with its cars productions since it seems to be focusing entirely on other important projects like the establishment of the Gigafactory.
No comments:
Post a Comment