On January 26, 2024, local time, the National Highway Traffic Safety Administration (NHTSA) website revealed that Tesla will recall 199575 2023 Model S, Model X, and Model Y vehicles equipped with fully autonomous driving function in the United States due to issues with rear view camera image display.
According to the statement, unstable software may cause the rear view camera images to be unable to be displayed, and affected vehicles may not be able to function properly under specific circumstances, thereby failing to provide the driver with the necessary rear view and increasing driving risks. Currently, Tesla has released an OTA software update to address this issue. NHTSA added that as of January 22, Tesla has identified 81 warranty claims that may be related to the condition of the rearview mirrors.
Just two months ago, Tesla recalled almost all vehicles in the United States.
On December 13, 2023 local time, the National Highway Traffic Safety Administration (NHTSA) website revealed that Tesla (TSLA) announced a recall of over 2.03 million vehicles, including the 2012-2023 Model S, 2016-2023 Model X, 2017-2023 Model 3, and 2020-2023 Model Y, due to insufficient autonomous driving control systems to prevent misoperation.
The NHTSA (National Highway Traffic Safety Administration) has been investigating the safety of Tesla's driving assistance system for a long time. In June 2022, NHTSA upgraded its early investigation of 830000 Tesla cars to engineering analysis - a necessary step before potentially requiring a recall; In July of this year, NHTSA requested Tesla to provide the latest response and current data in its investigation.
Previously, NHTSA once again requested Tesla to provide more information on the safety of autopilots. On July 26th local time, NHTSA issued a special instruction to Tesla to modify the driver monitoring system of its autonomous driving software. In this special directive, NHTSA expressed concern about a change by Tesla that allows drivers to use the autopilot for extended periods of time without turning on the steering wheel to apply torque prompts.
The director of NHTSA stated that the agency is about to end its investigation into Tesla's autonomous driving software behavior and will soon make decisions and recommendations. These measures may include more driver intervention and warnings.
According to the State Administration for Market Regulation on January 5, 2024, Tesla (Shanghai) Co., Ltd. and Tesla Motors (Beijing) Co., Ltd. recently filed a recall plan with the State Administration for Market Regulation in accordance with the requirements of the Regulations on the Administration of Recall of Defective Automobile Products and the Implementation Measures for the Regulations on the Administration of Recall of Defective Automobile Products, recalling a total of 7538 imported Model S and Model X electric vehicles produced between October 26, 2022 and November 16, 2023. The vehicles within the scope of this recall may experience a safety hazard due to door unlocking logic control issues. In the event of a collision, the non collision side door latch may detach from the latch, leaving the doors in a non locked state.
On January 25, 2024 local time, Tesla announced its latest results. In the fourth quarter of 2023, Tesla's total revenue was $25.167 billion, a year-on-year increase of 3%, while analysts expected it to be $25.87 billion; Among them, Tesla's automotive revenue is a closely monitored indicator, with a total automotive revenue of $21.6 billion in the fourth quarter of 2023, a year-on-year increase of only 1%. In terms of gross profit margin, Tesla's fourth quarter gross profit margin was 17.6%, while analysts expected it to be 18.1%. The adjusted earnings per share (EPS) is $0.71, and analysts expect it to be $0.73.
After the financial report was released, Tesla's market value evaporated overnight by $80.1 billion (approximately RMB 574.3 billion). According to Forbes calculations, Tesla CEO Musk's personal wealth decreased by about $18 billion overnight. However, Musk remains the wealthiest person in the world with a net worth of around $204 billion.
Tesla CEO Elon Musk's comments during the fourth quarter financial report after Wednesday's trading session were considered "negative" by the outside world, which was also the reason for the company's sharp drop in stock price. These comments include the expectation that Tesla's sales growth will slow down this year, and the fact that Dojo Supercomputing is a long-term project with a low probability of success. Musk warned at the time that despite sacrificing profit margins to attract consumers, sales growth this year may slow down.
According to brokerage firm China, Dan Aives, a "die hard fan" of Tesla and an analyst at well-known US investment bank Wedbush Securities, stated in his latest report that Tesla's earnings conference call "leaves few answers for Wall Street, but many questions, and once again discouraging.".
Elves has lowered Tesla's 12-month target price from $350 to $315, believing that the possibility of further price reductions for electric vehicles, as well as the lack of specific profit margins and sales guidelines, constitutes a "level four storm" for Tesla. However, Avis maintained Tesla's stock rating as "outperforming the market".
As of the close on January 26th local time, Tesla was trading at $183.25, an increase of 0.34%, with a market value of $582.537 billion.