Tesla Inc.’s stock TSLA, -1.14% experienced a 1.1% drop in premarket trading on Wednesday following an announcement from the National Highway Traffic Safety Administration (NHTSA) regarding a massive vehicle recall due to autopilot control issues. The NHTSA stated, "In certain circumstances when Autosteer is engaged, and the driver does not maintain responsibility for vehicle operation and is unprepared to intervene as necessary or fails to recognize when Autosteer is canceled or not engaged, there may be an increased risk of a crash." Consequently, Tesla will be recalling a range of vehicles, totaling over 2 million units.
Model S, Model X, Model 3 and Model Y Affected
The recall will cover the following models:
- Model S from 2012 to 2023,
- Model X from 2016 to 2023,
- Model 3 from 2017 to 2023, and
- Model Y from 2020 to 2023.
All versions of Autosteer leading up to the latest version containing the necessary fix will be included in the recall.
Free Over-the-Air Software Update
To address the issue, Tesla has announced that it will provide an over-the-air software update free of charge.
It is noteworthy that Tesla's stock has witnessed a 92.4% increase year-to-date, whereas the S&P 500 SPX, +0.46% has gained 21%.
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