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Tesla Inc (NASDAQ:TSLA) shares slid about 1 percent Monday after Consumer Reports announced it would not recommend the Model 3.
“Despite record range and agile handling, issues with braking, controls and ride quality hurt the Model 3’s overall score,” the report said.
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The Details
CR lauded the Model 3’s “exhilarating acceleration,” record charge range and handling redolent of the Audi A4, the Porsche 917 Boxster or BMW’s 3 Series.
Yet the distraction of complex controls, “excessive wind noise,” stiff seating and, most importantly, a stopping distance “far worse” than that of contemporary competitors — even Tesla’s SUV — led CR to withhold its recommendation.
Tesla told CR its tests yielded better results and the brake system is affected by a number of factors, including weather and road surface, which may have limited performance. CR defended its tests as consistent with those performed on other vehicles.
“Before each test, we make sure the brake pads and tires have been properly conditioned,” Jake Fisher, director of auto testing at CR, said in the report. “We’ve conducted it on more than 500 vehicles, and we are always looking for consistent, repeatable results.”
The results also echoed those reported by Car and Driver, whose tests demonstrated vast variation.
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“I’ve been testing cars for 11 years, and in 11 years, no car has stood out with inconsistent braking like this,” Car and Driver Testing Director K.C. Colwell told CR. “Some trucks have ... it was just weird.”
Tesla bear Gordon Johnson told Benzinga the reports reinforce negative press Tesla’s received due to recent fatalities involving Model 3s.
Tesla Responds
Tesla suggested the stopping distance and braking system could be improved through software updates.
At the time of publication, Tesla was trading at $284.17, up 2.6 percent off the open.
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Photo courtesy of Tesla.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.