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Are Clean Energy Stocks In Bubble Territory?

Are Clean Energy Stocks In Bubble Territory?

Clean energy stocks have rallied…

Tesla Slammed In Consumer Reliability Report

Despite the rise in electric vehicle (EV) sales and the growing number of their devoted fans, electric carmakers continue to experience growing pains, and their cars didn’t score very well in the latest reliability survey of Consumer Reports.  

The massive survey showed that CR members, who shared their experience with 329,000 vehicles, found problems with Tesla Model Y, Audi E-Tron, and the Kia Niro EV.   

Consumer Reports thus dropped the Audi E-Tron and the Kia Niro from recommended cars, while Model Y did not earn CR’s recommendation despite performing “very well” in CR’s tests.

Audi and Kia acknowledged to CR they were aware of the issues raised by consumers and have started to address them, while Tesla did not respond to a request to comment on the consumer findings.

According to CR’s latest data, EVs could contain more issues for consumers because their platforms are usually new, as are most advanced technologies in those cars.

“There are plenty of new cars that have reliability problems because they’re using a new transmission, infotainment system, or other unproven components. In most cases, it takes a little time to get everything straightened out, as anyone who has ever bought the first version of a car knows,” Jake Fisher, senior director of CR’s Auto Test Center, said.

Related: Oil Majors Aren’t Worried About A Biden Presidency

Still, not all EVs were found problematic. According to the survey, the Bolt EV is one of Chevrolet’s most reliable models. Chevy Bolt, however, doesn’t have as many features as Tesla Model S and Model X, which have had more ongoing problems, CR said.

In the ranking of automakers making the most reliable cars, ranked on predicted reliability based on CR member surveys, Tesla ranks second to last on the 25th spot, down two places from the previous survey. Mazda, Toyota, and Lexus make the most reliable cars, according to the CR surveys.

By Tsvetana Paraskova for Oilprice.com

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  • Bill Simpson on November 20 2020 said:
    And GM is bragging that they will soon have a whole lineup of electric vehicles with a range of 400+ miles at a lower cost than current ICE powered cars and trucks. Musk had better hope they have a lot of reliability troubles, or Tesla might be in trouble. GM is claiming that they have a new battery technology which beats all current batteries and is cheaper too.
    The old Expedition's days might be numbered. Nah, it's paid for.
    One thing is certain. None of the auto producers have a cooler corporate headquarters than GM has in Detroit.

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