Tesla is recalling 356,309 Model 3 sedans to fix a cable that may separate from the rearview camera due to wear and tear, affecting the camera’s feed. It is also recalling 119,009 Model S vehicles to fix a faulty trunk latch in the front trunk.
Following standard procedure, Tesla filed both recalls with the NHTSA. The Model 3 recall affects all vehicles in the 2017 to 2020 model years. The filing indicates that Tesla expects that only one percent of Model 3 vehicles involved in the recall actually has the issue with the rearview mirror’s cable.
The Model S recall impacts the 2014 to 2021 model years. Tesla discovered the issue with the front trunk latch after a Model S vehicle’s trunk flew open due to improper latching. The company expects that fourteen percent of vehicles will actually have this issue.
It also recalled some vehicles in China to install an update for the Autopilot driver assist program that fixed an issue with the cruise control feature. Its service centers replaced faulty cameras used by Autopilot on many vehicles as a “goodwill gesture.”
When combined with delays in the construction of Gigafactory Berlin and occasional disputes with regulators, this year’s recalls may have been a factor in CEO Elon Musk’s admission that Tesla causes most of his headaches.
Tesla is not the only auto manufacturer that could have caused its CEO headaches due to recalls. Toyota recalled several of its models due to various defects throughout 2021. Same goes for Honda, Dodge and Chrysler, and GM.
Manufacturers will typically register recalls with the appropriate regulatory agency. Regardless of manufacturer, you can check whether your vehicle may be subject to a recall by entering its 17-digit VIN number on NHTSA.gov. Information on recalls of any other product can be found on Recalls.gov, which is operated as a cooperative venture between U.S. agencies responsible for regulating consumer products.
For all that, Tesla posted some impressive growth in both 2020 and 2021. It delivered 499,550 vehicles in 2020 and continued to post quarterly records for deliveries throughout most of 2021. The final numbers for Q4 2021 are not out yet.
Tesla’s and SpaceX’s growth rates were both impressive enough to catapult Elon Musk to the top of Forbes’ list of Earth’s wealthiest people despite his recent dumping of enough TSLA stock to owe billions of dollars in capital gains taxes this year. The recalls and Musk’s selloff do not seem to have hurt the value of Tesla stock much.