NEW YORK (TheStreet) -- Shares of Tesla Motors Inc. (TSLA) are down -0.55 to $257.90 in pre-market trade after the electric automaker's Model S, ranked as the best reviewed car of the year by Consumer Reports, exhibited minor flaws after months of driving as the magazine’s staff continued to test the vehicle, Bloomberg reports.
The non-profit publication, which buys all the cars it tests, said the problems mostly emerged after the sedan had been driven more than 10,000 miles. Issues included the center screen going blank after logging 12,000 miles, reducing access to most functions, a creaking noise from the roof and issues with the front trunk lid release, according to Bloomberg.
In an auto reliability survey in 2013, Consumer Reports gave the Model S a score of average, based on feedback from 637 owners of 2012 and 2013 models, the publication said.
TheStreet Ratings team rates TESLA MOTORS INC as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:
"We rate TESLA MOTORS INC (TSLA) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance and notable return on equity. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, generally higher debt management risk and poor profit margins."