Topline
Tesla’s latest recall—over 360,000 Thursday—put its total in the last year over 4 million, the second-most among U.S. automakers, though the vast majority of its recalls have been software fixes that haven’t required visits to shops.
A sign bearing Tesla’s logo at the Cherry Creek Mall in Denver is seen here on Feb. 9, 2019. (AP … [+]
Key Facts
The recall report filed with the National Highway Traffic Safety Administration cites problems with the self-driving system, including causing the car to travel straight through an intersection in a turn only lane, not fully stop at stop signs and exceed posted speed limits.
Tesla disagrees with the NHTSA’s findings but went forward with the recall “out of an abundance of caution,” according to the report.
The problems will be corrected with a software update that won’t require users to go into a dealership or have parts of the vehicle replaced.
Tesla claims it knows of no injuries or deaths associated with the reported problems.
Car Manufacturers Who Have Recalled The Most Cars Since 2022–And How Tesla Fits In
- Ford: 9,141,131 cars, 72 recalls
- Tesla: 4,132,303 cars, 21 recalls
- General Motors: 3,415,313 cars, 34 recalls
- Fiat-Chrysler/Stellantis: 3,338,259 cars, 33 recalls
- Nissan: 2,037,432 cars, 16 recalls
- Kia: 1,490,939 cars, 26 recalls
- Hyundai: 1,468,531 cars, 24 recalls
- Mercedes-Benz: 1,417,652, 35 recalls
- Volkswagen: 1,100,114 cars, 47 recalls
- BMW: 1,038,420 cars, 26 recalls
Surprising Fact
Of the 5,093,690 total cars Tesla has recalled, 81% have been since January 2022.
Tangent
The vast amount (99%) of the cars Tesla has recalled since January 2022 were fixed using a software update that didn’t require customers to go to a dealership or replace parts. Fiat-Chrysler, Kia, Hyundai, Volkswagen and BMW had no software fixes. Ford, Nissan, General Motors and Mercedes-Benz fixed 1%, 2%, 32% and17%, respectively, of their recalled cars with software updates.
Crucial Quote
“The word ‘recall’ for an over-the-air software update is anachronistic and just flat wrong!” Elon Musk, Tesla’s CEO, tweeted Thursday.
Key Background
Tesla has defended the safety of its self-driving features for years, telling customers and investors that it “enhances safety and convenience behind the wheel” and, in a letter to U.S. senators, that it helps people “drive safer than the average driver in the U.S.” Regulatory agencies aren’t convinced–dozens of investigations have been initiated by the NHTSA, and 19 deaths were reported in Tesla crashes where advanced driver systems were believed to have been used. Since 2021, the Justice Department has reportedly been investigating Tesla car crashes with autopilot features enabled. And the Securities and Exchange Commission is reportedly investigating whether Tesla exaggerated the safety of autopilot functions to investors.
Contra
Tesla’s newest recall isn’t Tesla’s biggest problem, according to Senior Barron’s writer and former industrial strategist Al Root. Recalls that can be solved with software updates, like the majority of Tesla’s, don’t usually affect automakers’ stock because they are relatively cheap, says Root. Instead, he argues, Tesla’s prospects are more likely to be affected by poor stock performance and the time Musk is sinking into Twitter.
Further Reading
Automakers With THe Most And Fewest Recalls In 2022 (Forbes)
Tesla Has Another Huge Recall. It’s Still No Reason to Worry. (Barron’s)
Tesla Under Federal Criminal Investigation Over Self-Driving Car Claims, Report Says (Forbes)
SEC Investigating Tesla Over Autopilot Safety Claims, Report Says (Forbes)
Tesla Recalls 362,000 U.S. vehicles over Full Self-Driving software (Reuters)
Source: https://www.forbes.com/sites/emilywashburn/2023/02/17/tesla-recalls-4-million-since-january-2022heres-how-that-compares-to-other-automakers/