Tesla Recalls Nearly 55,000 Model X; Applies Fix Via OTA Update
Portfolio Pulse from Anan Ashraf
Tesla Inc (NASDAQ:TSLA) is recalling nearly 55,000 of its Model X vehicles manufactured between 2021 and 2023 due to risks of reduced braking performance. The vehicle controller might not detect low brake fluid, and it will not display a warning light, increasing the risk of an accident. However, no injuries related to the issue have been reported as of Oct. 10. The company will fix the issue with an over-the-air update free of cost to the customer.
October 17, 2023 | 9:31 am
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NEGATIVE IMPACT
Tesla's recall of nearly 55,000 Model X vehicles due to a braking issue could potentially impact the company's reputation and customer trust. However, the company's proactive approach to fix the issue with a free over-the-air update may mitigate some of the negative impact.
Recalls can negatively impact a company's reputation and customer trust, potentially leading to a decrease in sales. However, Tesla's proactive approach to fix the issue with a free over-the-air update shows the company's commitment to customer safety and satisfaction, which may help to mitigate some of the negative impact. The recall could also lead to increased regulatory scrutiny.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100