Is Tesla Hiding Dangerous Defects? Norwegian Agency's Decision Could Change Everything!

GMBStaff

 21 Dec 23

tl;dr

The Norwegian Public Roads Administration is in the final stages of its investigation into Tesla (NASDAQ:TSLA) over suspension failures in various model types of electric vehicles, with a decision on a potential recall expected within the next week. The agency is evaluating consumer complaints about...

The Norwegian Public Roads Administration is in the final stages of its investigation into Tesla (NASDAQ:TSLA) over suspension failures in various model types of electric vehicles, with a decision on a potential recall expected within the next week. The agency is evaluating consumer complaints about lower rear control arms breaking on Model S and X vehicles, and could potentially issue a recall for all model years of these vehicles to replace the rear lower control arms. Additionally, the agency may choose to take no action if it determines there is no safety issue, or it could extend the investigation. A separate review by Reuters has suggested that Tesla has been aware of chronic vehicle defects for an extended period of time, shifting blame to drivers instead of addressing these issues. Despite these developments, Tesla shares were up 1.32% in premarket trading on Thursday, with short interest in the stock standing at 3.32% of the total float.

More about Tesla Inc

Key Financial Metrics:

• Total Sales: $785,638,294,000
• Current Stock Price: $79.98
• Dividend Yield: 3.09%
• Market Cap: $959,240,030,000
• Price-to-Earnings Ratio: 30.28
• Beta: 0.112
• Net Income: $224.53 billion
• Debt-to-Equity Ratio: -0.442
• Return on Equity: 8.8%

Stock Performance:

• Tesla, Inc. is an American electric vehicle and clean energy company with a strong market presence in electric cars, battery energy storage, and solar products.
• In 2020, Tesla captured 16% of the plug-in market and 23% of the battery-electric market, indicating strong sales and market share in the electric vehicle segment.
• Tesla Energy, the company's subsidiary, is a major installer of solar photovoltaic energy generation systems and one of the largest global suppliers of battery energy storage systems.

Market Sentiment:

• Tesla's financial data and market performance indicate a strong position in the electric vehicle and clean energy market.
• The company's innovative products and strong market share in the plug-in and battery-electric segments reflect positive market sentiment.

Disclaimer:
This is not financial advice. Please do your own research before investing in any asset.