The U.S. National Highway Traffic Safety Administration (NHTSA) stated on Friday that Tesla (NASDAQ:TSLA) will recall 3,878 Cybertrucks to fix a loose accelerator pedal pad issue that could potentially get lodged in the interior trim.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
The NHTSA’s notice stated that such a trapped accelerator pedal could result in the vehicle accelerating unintentionally and could increase the risk of a crash. Additionally, Tesla will replace or repair the faulty accelerator pedals at no charge, and owners will be notified through letters in June.
A Reuters report cited data from BizzyCar that showed that in the first quarter of this year, Tesla had three recalls that affected around 2.4 million vehicles.
The EV major started deliveries of its Cybertruck late last year after a two-year delay. However, this year, Tesla has again postponed the scheduled delivery dates of its pickup truck without providing any explanation.
Is Tesla a Buy or Sell?
Analysts remain sidelined about TSLA stock, with a Hold consensus rating based on eight Buys, 19 Holds, and seven Sells. Year-to-date, TSLA has declined by more than 35%, and the average TSLA price target of $184.86 implies an upside potential of 23.3% from current levels.
