Finance

Tesla to issue biggest global recall notice over parking brake issue

Tesla to issue biggest global recall notice over parking brake issue

Tesla issued a voluntary recall for approximately 53,000 examples of the Model S hatchback and the Model Xcrossover.

The parking brake in question gets stuck because of a fractured internal gear.

If that gear were to break, the parking brake could become stuck in place, the company said. Tesla noted that it did not consider the problem a safety issue, nor has the company found any accidents or injuries related to the safety brake malfunction.

Tesla estimates that only 2 percent of the vehicles recalled contain the improperly manufactured part.

Tesla will be swapping out the affected parts and says that the whole process takes less than 45 minutes.

The auto maker said there had been no accidents or injuries due to the issue.

Current Movers: MGM Resorts International (MGM), Synergy Pharmaceuticals, Inc. (SGYP)
Wolfe Research reiterated an "outperform" rating on shares of MGM Resorts International in a research note on Tuesday, March 28th. State Of Tennessee Treasury Department holds 0.02% of its portfolio in MGM Resorts International (NYSE:MGM) for 110,000 shares.

Unfortunately for Tesla and owners of Model S and X vehicles built from February 2016 through October 2016, a manufacturing issue means that the parking brake may not function properly. But Tesla adds that, is "in order to be cautious" it is acting proactive I replacing the parts to head off any potential issues.

Only a "very small percentage" of gears were manufactured improperly, the company said.

Tesla has issued a recall of 53,000 Model S and Model X cars due to an issue with the parking brake on the cars, the manufacturer said Thursday.

Our records show that you own a Tesla vehicle that was built during this period.

The problem lies with the electric parking brakes that help secure the vehicles when placed in Park. As a new company, all this will count strongly in building its public image.


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