This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Model S Concerns May Be Overblown

NEW YORK ( TheStreet) -- Tesla Motors (TSLA - Get Report) shares held onto gains, finishing up 1.6% at $185.28 despite a story that one of its popular Model S cars accelerated unintended. The unintended acceleration may not be the fault of the car, however.

According to a source close to the situation, Tesla has looked at the service logs for the vehicle "with a fine tooth comb," finding conflicting results with the filed report.

One Model S owner complained to the National Highway Traffic Safety Administration (NHTSA) that his wife was leaving the couple's driveway, when the car accelerated suddenly, hitting a curb. The owner says the car was going approximately 5 mph down the driveway, when the car accelerated, hitting the curb, with a portion of the car landing on a retaining wall.

The driver said a Tesla engineer told him the car accelerated from 18% to 100% "in a split second," though the engineer also said there was a built-in safeguard which prevented the accelerator from going beyond 92%.

The NHTSA recently awarded the Tesla Model S a 5-star safety rating.

Greenautoblog was the first to report the complaint to the NHTSA.

Tesla confirmed to TheStreet that it is looking into the matter.

In other Model S-related news, Hertz (HTZ) announced it would be offering the Model S and Roadster for rent at airports as part of an expansion of its Dream Cars package.

"Customer and industry support for Hertz's Dream Cars has been overwhelming, so adding the Tesla Model S to the already outstanding fleet was an easy choice," said Mark P. Frissora, Hertz Chairman and CEO. "The ability to offer a truly unique driving experience to Hertz customers is a thrill, and the addition of this vehicle shows the passion we have in offering the best and most diverse fleet to our customers."

The Model S is available at both San Francisco and Los Angeles airports, and Hertz is offering the 85 kWh model, capable of going 265 miles in a single charge.

TheStreet recently reviewed the Model S with the P85 kWh battery. You can read the full review here.

-- Written by Chris Ciaccia in New York

>Contact by Email.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
TSLA $185.00 0.00%
AAPL $123.25 0.00%
FB $83.30 0.00%
GOOG $548.34 0.00%
YHOO $45.10 0.00%

Markets

DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs