Recent Data Has Tesla (TSLA) With More U.S. Recalls Than Ford (F) in 2014

January 28, 2014 11:05 AM EST Send to a Friend
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Stifel Nicolaus issued an update on NHTSA recalls for 2013 and year-to-date 2014. Notably, Tesla Motors (Nasdaq: TSLA) accounts for more recalls than Ford (NYSE: F) for the first few weeks of the year.

The following data was derived by Stifel's James Albertine and Lucy Webster based on the latest NHTSA information:

2014 YTD Counts by OEM Units (as portion of Total)

1. General Motors at 300,000 units, or 83.9 percent of the total
2. Ford at 28,233 units, or 7.9 percent of the total
3. Tesla Motors at 29,222 units, or 8.2 percent of the total

Total recalls in 2014 - 357,455 units (100.0 percent)

But, the above data is very early into the year and probably will be close to all the recalls that Tesla will put out. By comparison, Tesla has just 1,228 units on recall for all of 2013, while GM was at 958,904 units, and Ford hit 1,190,419 units. As a percentage of overall recalls (18,802,405 units) in the U.S. last year, Ford amounted to 6.3 percent, GM was at 5.1 percent, and Tesla didn't even register.

This year's recall for Tesla was a safety measure to replace at-home plugs for charging Model S batteries. Given the small number of units in the recall, we assume it is an immaterial event for the company.

It wasn't announced when Tesla will report Q4 results, but we suspect it will be in early February, possibly on the 4th or 5th of the month.

Shares of Tesla are up 2.4 percent Tuesday.


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Comments

Voluntary Upgrade
Curt Renz on 2014-01-28 11:49:33
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Furthermore, the convenient upgrades were voluntary and not ordered by the NHTSA.

Nonsensical Use of the Word Recall
Curt Renz on 2014-01-28 11:46:45
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Tesla cars were not recalled to service centers. An over-the-air software upgrade was made and replacement wall adapters were mailed to customers.

David Strickland who recently left as the head of the NHTSA concedes that the word recall is inappropriate in cases like this. It should also be noted that 29,222 is the number of wall adapters that were replaced. More wall adapters were made than cars.

Nonsense is correct.
Bob on 2014-01-28 11:42:09
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rubbish streetinsider.com

Tesla Recall? No way.
Tesla on 2014-01-28 11:34:30
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The cars themselves never had to come back in for Tesla. Only the adapter that connects the charging cable to the 240-volt outlet.

I agree with Joe. Nonsense.

Recall Data?
Joe on 2014-01-28 11:19:57
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How is that a fair comp.? Tesla recalls are for the charging station plugs, not for the cars themselves. Complete nonsense.


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