Tesla placed No. 11, up from No. 19 last year. The auto-brand rankings are based on road tests, reliability statistics, owner satisfaction and safety.
“This [improvement] was due to the improved reliability of its Model 3 and Model S sedans,” Consumer Reports said in a statement. “The Model X [SUV] is the lone Tesla that CR does not recommend.”
Tesla outranked all its U.S. competitors, and Consumer Reports chose the Model 3 as one of its top 10 cars, SUVs and trucks of the year.
“The vehicles perform phenomenally,” Jake Fisher, senior director of automotive testing, told Bloomberg. “People just love these vehicles.”
The 10 brands ranked ahead of Tesla, starting at No. 1, are Volkswagen Group’s (VWAGY) - Get Volkswagen AG ADR Report Porsche, Hyundai Motor Group’s (HYMTF) Genesis, Subaru (FUJHY) - Get Subaru Corporation ADR Report, Mazda Motor (MZDAY) , Toyota Motor’s (TM) - Get Toyota Motor Corporation Report Lexus, VW’s Audi, Hyundai, BMW (BMWYY) , Kia Motors' (KIMTF) Kia, and BMW’s (BMWYY) Mini.
Stock analysts have mixed views of Tesla following the near quadrupling of its stock price over the past six months.
Some view its recent earnings progress as a sign of big things to come, while others say the company has some major flaws.
Morningstar sector strategist David Whiston says Tesla shares are more than 100% overvalued. He puts fair value at $326.
“Tesla has a chance to be the dominant electric vehicle firm and is a leader in autonomous vehicle technology, but we do not see it having mass-market volume for at least another decade,” he wrote in a report.
At last check, Tesla shares traded at $887.47, down 3.3%.