Tesla, Inc. (TSLA) has had its fair share of quality issues and vehicle recalls in recent times. A recent report released by the company shows that accident statistics of Tesla's vehicles compare favorably to the average number compiled by the U.S. transportation regulator.
What Happened: Tesla has had one crash for every 4.31 million miles driven using Autopilot technology, the EV maker said in fourth-quarter accident data published on its website. The company registered one accident for every 3.45 million miles driven in the year-ago quarter and one crash in 4.97 million miles in the third quarter of 2021.
For drivers not using Autopilot technology, the company said it recorded one crash for every 1.59 million miles driven. This compares to year-ago numbers of one crash for every 1.27 million miles in Q4 2021, and the third-quarter statistics of one crash for every 1.6 million miles driven.
In comparison, the National Highway Traffic Safety Administration's recent data revealed there is one automobile crash in every 484,000 miles driven, Tesla noted. Reacting to a tweet shared on the data, CEO Elon Musk commented the contrast in the numbers.
Related Link: Tesla Analyst Hikes Price Target, Says The Company Can 'Make All Other EV Names Obsolete'
Why It's Important: The numbers assume importance in the wake of the NHTSA probes into the company. In August 2021, the agency began a formal investigation into Tesla's Autopilot having issues with recognizing parked emergency vehicles. Later in October, the agency questioned the company on why it failed to file recall documents when it did over-the-air updates to its Autopilot software.
The NHTSA also took exception to Tesla having non-disclosure agreements for its full-self driving early access beta release program, which prevent participants from sharing information with the agency. Tesla's FSD is in beta testing and a wider rollout has long been delayed.
The company recently hiked the price of the FSD software from $10,000 to $12,000, beginning on Jan. 17.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
