Boston, MA 08/13/2014 (wallstreetpr) – Tesla Motors Inc (NASDAQ:TSLA), a leading electric car maker that is taking on traditional automakers by the horn almost in the major markets of the U.S., Europe and China, registered again in its shares on Tuesday. The shares closed up 0.25% to $259.96 in regular trading and $0.37% in the post-market.
However, the gains were made under challenging circumstances, so to speak. The gain in the stock happened just when Consumer Reports turned over a report that in a sense takes away some marks from Tesla Motors Inc (NASDAQ:TSLA). Consumer Reports noted some flaws in Tesla’s flagship Model S sedan, which starts from $71,000 in the U.S.
Flaws in Model S
Although Consumer Reports ranked the car the best of the year, they said it exhibited some flaws, especially manifesting after months of usage as noted by the magazine’s staff when they continued to test the all-electric car. For example, they reported that Model S developed issues such as the center screen going blank after the car logged 12,000 miles. Additionally, the reported a creaking sound from the car’s roof and reduced access to some functions, as Financial Post stated in an article.
Consumer Reports is a non-profit publication that purchases all of its test cars.
Tesla Motors Inc (NASDAQ:TSLA) has not yet responded to the “flaw” report that appears to dent the image of Model S.
However, the company recently reported that it continues to get orders for the car from China and Europe as in the U.S. They have plans for a mega factory to produce battery cells used in the cars and the future models as they seek to lower their production costs and also address the battery shortage issue that limit their deliveries.
The Elon Musk-led automaker plans to launch an SUV model known as Model E and another car known as Model 3 in 2017, which they expect to target at the mass market. A pickup truck was also another vehicle that the CEO Musk promised as they look into making Tesla Motors Inc (NASDAQ:TSLA) more popular and even profitable.
