Yesterday was one of those days that doesn't come around too often.
It wasn't too long ago that Consumer Reports was bestowing the Tesla Model S with a significant accolade. According to the storied publication, the Model S was the best performing vehicle it had ever tested. Essentially, it broke CR's evaluation with a perfect score. No one even knew that was possible.
Yesterday though shareholders of TSLA were rocked by news and a following slide in the equity. Consumer Reports actually withdrew its recommendation of the Model S due to "worse than average" reliability. This is due to an all-new report that predicts reliability of new vehicles, which is conducted by CR. During yesterday's trading session shares of TSLA gave back nearly 10 percent, but recovered into the close.
This leaves me wondering two things:
1) How the hell can Consumer Reports say the Model S is the best thing since sliced bread and then go take a crap on it?
2) Will Tesla or Consumer Reports get hurt MORE by this revelation?
What say you, Spies?
In late August, a report out of Consumer Reports said that the Tesla Model S P85D, an all-wheel-drive electric sedan that also happens to be the most expensive model of the car, performed “better in our tests than any other car ever has, earning a perfect road-test score.”
We said at the time that the review was something you don’t see every day. But more shockingly, Consumer Reports has just assigned Tesla’s Model S a “worse-than-average” rating in a new, annual report about the predicted reliability of new vehicles...
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