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TESLA INC.

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Tesla : Consumer Reports calls Tesla automated parking 'glitchy'

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10/09/2019 | 11:45am EDT
A new Tesla Model 3 is shown at a delivery center on the last day of the company's third quarter, in San Diego

(Reuters) - Tesla Inc's Smart Summon automated parking system is "glitchy" and only works intermittently, influential U.S. magazine Consumer Reports has said, adding to recent questions about the app-based feature.

The National Highway Traffic Safety Administration said last week it was looking into parking lot crashes of Tesla Model 3s trying to drive to owners under the Smart Summon feature.

Several users have also posted videos on social media of Tesla vehicles that appear to have been in near accidents. One posted a video of a Tesla striking a garage wall and another of a Tesla being struck by a vehicle backing up.

"Consumers are not getting fully tested, consumer-ready technology," Jake Fisher, senior director of auto testing at the magazine said https://www.consumerreports.org/hybrids-evs/teslas-smart-summon-performance-doesnt-match-marketing-hype in a report on Tuesday.

"What consumers are really getting is the chance to participate in a kind of science experiment."

A Tesla software update last month added the Smart Summon feature for some customers. When the car is within 200 feet and in their line of sight, they use a phone app to summon the vehicle in a parking lot.

The company did not immediately respond to a request for comment.

(Reporting by Akanksha Rana in Bengaluru; editing by Patrick Graham)

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Financials (USD)
Sales 2019 24 604 M
EBIT 2019 -553 M
Net income 2019 -1 276 M
Debt 2019 8 155 M
Yield 2019 -
P/E ratio 2019 -34,7x
P/E ratio 2020 702x
EV / Sales2019 2,20x
EV / Sales2020 1,79x
Capitalization 46 029 M
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Mean consensus HOLD
Number of Analysts 34
Average target price 266,10  $
Last Close Price 256,96  $
Spread / Highest target 106%
Spread / Average Target 3,56%
Spread / Lowest Target -45,5%
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Managers
NameTitle
Elon Reeve Musk Chief Executive Officer & Director
Robyn M. Denholm Chairman
Zachary Kirkhorn Chief Financial Officer
Jeffrey B. Straubel Chief Technology Officer
Kimbal Musk Director
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