Tesla saw a stunning reversal after Consumer Reports removed the Tesla Model 3 from its recommended list with its stock taking a hit as a result.
The publication removed the Model 3 from its list of reliable cars, coupling this blow with the added fact that the Model X is on their list of top 10 least reliable vehicles.
This latest strike against Elon Musk’s company adds to the growing number of issues Tesla has faced over the past year including cutting its workforce by 7% to help aid in the price reduction of the Model 3.
Lauren Fix, the "Car Coach," shed some light on the impact this could have on the company.
“It was a big hit, because remember [Elon Musk] sort of lived off the fact that Consumer Reports gave Tesla all this credibility for the Model S,” he said during an interview on FOX Business' “Bulls & Bears" Thursday.
Lauren added that their struggles are mounting, "Just last year they had problem with their braking being a longer distance than what was considered acceptable by the Department of Transportation."
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But MaxFunds founder Jonas Max Ferris says we shouldn't believe the writing on the wall just yet.
“Tesla is still number one in customer satisfaction ahead of Porsche and everybody else. The cult people who are into it still like it more than any car they've ever had,” he said.
Tesla has recovered from damaging reports in the past, but it remains to be seen how they will recover from this latest blow.
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