Bet this never happened to Harrison Ford.
When Tesla (TSLA) Chief Executive Elon Musk wanted to unveil the Cybertruck to a waiting world, he held an event in Los Angeles in November 2019, the same month, year and location in which the 1982 science fiction film “Blade Runner” was set.
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The film, starring Ford, features androids and flying cars, and it — along with the amphibious car from the James Bond movie “The Spy Who Loved Me” — inspired the highly hyped electric pickup’s design
Pilot production of the Cybertruck began in 2023 amid battery-supply constraints and manufacturing issues. The company started deliveries of the Cybertruck late last year, marking the Tesla’s first new model in almost four years.
And now somebody in Fort Lauderdale, Fla., apparently has a problem with Musk and decided to express it in a most colorful way.
A Tesla Cybertruck from at Parc des Expositions Porte de Versailles on May 23, 2024, in Paris.
Recall issues
An unknown tagger spray painted “F— Elon” across the stainless steel body panels of 34 Cybertrucks, Inside EVs reported.
The trucks had been stored in a public parking lot, pending delivery to their new owners. The graffiti was removed and all the trucks were clean by the following day.
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Local police are now investigating the incident, but this isn’t the only problem facing the vehicle, which Musk envisioned over a decade ago as a “supertruck with crazy torque [and] dynamic air suspension” and one that “corners like it’s on rails.”
Tesla is recalling 11,688 Cybertruck electric pickups due to problems with the windshield wipers, the U.S. National Highway Traffic Safety Administration said.
The front windshield-wiper motor controller can stop working because it’s getting too much electrical current, which could reduce visibility and increase the risk of a crash.
The recall includes all model year 2024 Cybertrucks manufactured from Nov. 13, 2023, to June 6, 2024.
The company first learned of the issue in early February when Tesla Service identified wiper-motor failures on certain Cybertrucks.
Tesla recovered 20 motors that Tesla engineers analyzed over the next few months before finding the cause.
The electric vehicle maker said that it did not know of any crashes or injuries caused by the problem.
Letters notifying owners are expected to be mailed Aug. 18. Tesla Service will replace the wiper motor free of charge.
Tesla is also recalling 11,383 Cybertrucks because a trim in the trunk bed might have been improperly attached.
A loose appliqué can detach from the vehicle, creating a road hazard for following motorists and increasing the risk of a crash.
Barclays analyst sees ‘negative revisions’
The company said a loose appliqué may cause “a detectable noise in the cabin” and customers might see the appliqué come loose or separate from the vehicle.
Tesla said it was unaware of any collisions, injuries or deaths related to this condition.
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In April, Tesla recalled nearly 4,000 Cybertrucks to repair a faulty accelerator pedal pad that might dislodge and become trapped by the interior trim.
The latest recalls come after investors overwhelmingly approved a controversial $55.8 billion compensation package for Musk, who recently teased that Tesla Master Plan 4 “will be epic.”
The Cybertruck has an average sales price of $108,667, and Stephanie Valdez Streaty, director of industry insights for Cox Automotive, owner of Kelley Blue Book, told USA Today that “the key factor with the Cybertruck isn’t just the high transaction price. It’s also the volume of sales.”
“An increase in Cybertruck sales will drive prices higher for both Tesla and the EV market,” she said.
During the company’s first-quarter earnings call in April, Lars Moravy, Tesla’s vice president of vehicle engineering, told analysts that Cybertruck’s ramp “still faces like a lot of challenges with so many new technologies, some supplier limitations, etc., and continue to ramp this year, just focusing on cost efficiency and quality.”
Tesla is scheduled to report second-quarter earnings next month, and Barclays analysts said they expected the company to post quarterly deliveries of 415,000 units, down 11% year-over-year and below the consensus estimate of 444,000.
The investment firm said on June 21 that its estimate was “somewhat in line with more muted buyside expectations,” and it suspects the final Tesla-compiled consensus estimates will end up lower.
A soft delivery result could turn investor attention back to the currently challenging fundamental environment for Tesla, as the company is likely to face continued negative revisions on 2024 and 2025 estimates, the firm said.
Barclays affirmed an equal-weight (effectively neutral) rating and $180 price target on Tesla stock.
New Street expects Tesla to deliver 425,000 units in the second quarter, which would be 4% below consensus expectations.
The firm said production disruptions in the U.S. and China have abated, but it sees no signs of a material improvement in demand and likely sees no inflection until 2025 when the low-cost Model 3/Y launches.
New Street maintained a buy rating on Tesla with a $235 price target.
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