- Tesla shares dropped Thursday after Consumer Reports said it could no longer recommend the Model 3 due to a variety of problems the publication's members have raised.
- A Tesla spokesperson told Consumer Reports the company had already made "'significant improvements' to correct the issues that Model 3 owners raised."
- Watch Tesla trade live .
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Tesla slumps after Consumer Reports says it will no longer recommend the Model 3 due to 'reliability issues' (TSLA)
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"Consumer Reports can no longer recommend the newest Tesla the Model 3 electric sedan because members say they've identified a number of problems with their cars, including issues with its body hardware, as well as paint and trim. CR members reported these results in our annual reliability survey, which includes data on about 470,000 vehicles," Patrick Olsen of Consumer Reports said.
A Tesla spokesperson told Consumer Reports the company had already made "'significant improvements' to correct the issues that Model 3 owners raised" with the publication.
The report comes a month after Tesla reported quarterly earnings that fell short of analysts' estimates, though the company's revenue topped expectations.
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