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Tesla (TSLA) Faces Tough Probe for Autopilot Hitch in Vehicles
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Tesla Inc. (TSLA - Free Report) has landed in a tough spot as the United States federal regulators have escalated their investigation into the company’s Autopilot function. The Autopilot feature has resulted in more than a dozen cars crashing into parked first-responder vehicles over a span of four years.
The investigation, representing nearly 830,000 vehicles in the United States, includes all four Tesla vehicles – Models Y, X, S and 3.
The National Highway Traffic Safety Administration (“NHTSA”) has reported that it will upgrade its preliminary investigation, which began last August, to an engineering analysis, which is the final step before the agency decides on a recall.
The 16 crashes, which spurred the investigation, took place between January 2018 and January 2022 and resulted in 15 injuries and one death. The Autopilot feature is supposed to help drivers navigate roads through artificial intelligence by detecting other vehicles. Per NHTSA, forensic data indicated that the majority of the drivers had their hands on the steering wheel before impact and were complying with the system as it was designed to be used.
Most of these incidents occurred after dark, when the software ignored scene control measures, including warning lights, flares, cones and an illuminated arrow board.
The NHTSA is also collecting data on miles driven and crash reports from other companies that manufacture driver assist systems and fully autonomous vehicles.
In a separate probe, NHTSA is looking into a batch of complaints filed against Tesla vehicles that suddenly brake at high speeds. However, there have been no crashes or injuries reported.
The agency, for quite a long time, has been urging the auto magnate to pay heed to safety norms and act accordingly, but it looks like the automaker has been brushing aside the concerns.
Shares of TSLA have gained 17.9% over the past year against its industry’s 16.2% decline.
Wabash National has an expected earnings growth rate of 239.3% for the current year. The Zacks Consensus Estimate for current-year earnings has remained constant in the past 30 days.
Wabash National’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed in one. WNC pulled off a trailing four-quarter earnings surprise of 51.26%, on average. The stock has gained 0.2% over the past year.
Fox Factory has an expected earnings growth rate of 14.9% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised around 1% upward in the past 30 days.
Fox Factory’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters. FOXF pulled off a trailing four-quarter earnings surprise of 10.18%, on average. The stock has declined 40.4% over the past year.
Standard Motor has an expected earnings growth rate of 2% for the current year. The Zacks Consensus Estimate for current-year earnings has remained constant in the past 30 days.
Standard Motor’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters. SMP pulled off a trailing four-quarter earnings surprise of 40.34%, on average. The stock has declined 10.9% over the past year.
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Tesla (TSLA) Faces Tough Probe for Autopilot Hitch in Vehicles
Tesla Inc. (TSLA - Free Report) has landed in a tough spot as the United States federal regulators have escalated their investigation into the company’s Autopilot function. The Autopilot feature has resulted in more than a dozen cars crashing into parked first-responder vehicles over a span of four years.
The investigation, representing nearly 830,000 vehicles in the United States, includes all four Tesla vehicles – Models Y, X, S and 3.
The National Highway Traffic Safety Administration (“NHTSA”) has reported that it will upgrade its preliminary investigation, which began last August, to an engineering analysis, which is the final step before the agency decides on a recall.
The 16 crashes, which spurred the investigation, took place between January 2018 and January 2022 and resulted in 15 injuries and one death. The Autopilot feature is supposed to help drivers navigate roads through artificial intelligence by detecting other vehicles. Per NHTSA, forensic data indicated that the majority of the drivers had their hands on the steering wheel before impact and were complying with the system as it was designed to be used.
Most of these incidents occurred after dark, when the software ignored scene control measures, including warning lights, flares, cones and an illuminated arrow board.
The NHTSA is also collecting data on miles driven and crash reports from other companies that manufacture driver assist systems and fully autonomous vehicles.
In a separate probe, NHTSA is looking into a batch of complaints filed against Tesla vehicles that suddenly brake at high speeds. However, there have been no crashes or injuries reported.
The agency, for quite a long time, has been urging the auto magnate to pay heed to safety norms and act accordingly, but it looks like the automaker has been brushing aside the concerns.
Shares of TSLA have gained 17.9% over the past year against its industry’s 16.2% decline.
Image Source: Zacks Investment Research
Zacks Rank and Key Picks
TSLA currently carries a Zacks Rank #3 (Hold).
Better-ranked players in the auto space include Wabash National Corporation (WNC - Free Report) , carrying a Zacks Rank #1 (Strong Buy) and Fox Factory Holdings (FOXF - Free Report) and Standard Motor Products (SMP - Free Report) , each carrying a Zacks Rank #2 (Buy) currently. You can see the complete list of today’s Zacks #1 Rank stocks here.
Wabash National has an expected earnings growth rate of 239.3% for the current year. The Zacks Consensus Estimate for current-year earnings has remained constant in the past 30 days.
Wabash National’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed in one. WNC pulled off a trailing four-quarter earnings surprise of 51.26%, on average. The stock has gained 0.2% over the past year.
Fox Factory has an expected earnings growth rate of 14.9% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised around 1% upward in the past 30 days.
Fox Factory’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters. FOXF pulled off a trailing four-quarter earnings surprise of 10.18%, on average. The stock has declined 40.4% over the past year.
Standard Motor has an expected earnings growth rate of 2% for the current year. The Zacks Consensus Estimate for current-year earnings has remained constant in the past 30 days.
Standard Motor’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters. SMP pulled off a trailing four-quarter earnings surprise of 40.34%, on average. The stock has declined 10.9% over the past year.