In a recent announcement, the U.S. auto regulator revealed that Tesla (Nasdaq: TSLA) is conducting a recall affecting 54,676 Model X vehicles produced between 2021 and 2023. This recall has been initiated due to a potential issue with the vehicle controller, which may fail to detect low brake fluid levels and fail to activate a warning light.
To address this concern, Tesla has responded swiftly by releasing a free over-the-air (OTA) software update, as confirmed by the National Highway Traffic Safety Administration (NHTSA). Notably, this update aims to rectify the brake fluid detection problem, enhancing vehicle safety.
Importantly, the NHTSA emphasized that, as of October 10, Tesla has not been made aware of any accidents, injuries, or fatalities associated with this condition. Nonetheless, the automaker remains proactive in addressing the matter.
While this recall unfolds, it’s worth recalling that in August, the NHTSA launched an investigation into 280,000 recently produced Tesla Model 3 and Model Y vehicles due to concerns regarding the loss of steering control and power steering.
This recall comes months after Tesla recalled nearly in May all of its vehicles in China owing to a braking and acceleration flaw that could increase crash and safety hazards, affected more than 1.1 million Shanghai-produced vehicles from January 2019 to April 2019, as well as select models imported into China.
In February, Tesla was also reported to have recalled under 363,000 vehicles equipped with the FSD feature. Affected models include the 2016-2023 Model S and X, the 2017-2023 Model 3, and the 2020-2023 Model Y that are equipped with or are pending the installation of FSD Beta.
Tesla is scheduled to report its third-quarter earnings on October 18. In a positive development, the company witnessed a surge in deliveries from its Shanghai plant in China, with 84,159 vehicles delivered in August.
Information for this briefing was found via Reuters, Mint, and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
