Tesla recalls nearly 12K Cybertrucks due to trim pieces and faulty motor controllers

From Nasdaq: 2024-06-26 09:50:00

Tesla, Inc. has issued two recalls for its Cybertruck pickups in the United States, addressing trim pieces and faulty motor controllers, affecting nearly all 12,000 Cybertrucks on the road. Previous recalls included a sticking accelerator pedal and software issues. The Cybertruck competes with Ford F-150 Lightning and Rivian R1T, with Tesla aiming for a production capacity exceeding 125,000 units per year.

The Cybertruck recalls come after Tesla announced record 1,300 shipments in one week during a restructuring period with a headcount reduction of at least 14%. Tesla’s stock, TSLA, currently holds a Zacks Rank #3 (Hold). Other top-ranked auto stocks include Blue Bird Corporation, Oshkosh Corporation, and American Axle & Manufacturing Holdings, each with a Zacks Rank #1 (Strong Buy). Sales and earnings estimates for these companies show promising growth projections.

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Read more at Nasdaq: Tesla (TSLA) Recalls Nearly 12K Cybertrucks in Latest Setback