Tesla Shares Drop Following Consumer Reports Recommendation

The Street said shares of the beloved automobile Tesla Motors dropped 1.2 percent on Wednesday morning to USD210.51 on Wednesday. The price drop was noted following Consumer Reports’ move to remove its recommendation for the company’s Model S.

In an article on G2, Tesla was said to have been provided a “Worse Than Average” rating on its Model S purportedly because of the 1,400 car owners who had not had a great experience with Tesla’s latest car. The laundry list of problems with Model S include drivetrain, power equipment, charging equipment, giant iPad-like center console, and squeaks, rattles and leaks from the body and sunroof.

After the Consumer Reports’ removal of the coveted recommendation, Tesla spokesman Ricardo Reyes said, “[The company keeps in close communication with its customers to] proactively address issues and quickly fix problems… In instances when hardware needs to be fixed, we strive to make it painless. Consumer Reports also found that customers rate Tesla service as the best in the world.”