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

January 28, 2014 11:05 AM EST
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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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