Auto News for May 5 – Tesla posts loss, shares go up

 Tesla model X 

 Tesla has posted a first quarter loss of $282 million, or $2.82 cents a share and that was well above Wall Street forecasts. It blamed a parts shortage for its gullwing Model X SUV. But stock pickers drove the shares higher in after-hours trading after Tesla said it would produce 500,000 vehicles a year starting in 2018, or two years earlier than previous stated. And that would be a significant increase from the 50,000 Tesla’s that rolled off the production line last year.

 The Takata airbag recall now includes an additional estimated 35 to 40-million inflators, adding to the already 28.8 million previously recalled. The National Highway Traffic Safety Administration said the recalls will occur in phases starting this month and continuing through December 2019. Ruptures of Takata inflators have been tied to 10 deaths and more than 100 injuries in the U.S. “A combination of time, environmental moisture and fluctuating high temperatures contribute to the degradation of the ammonium nitrate propellant in the inflators. Such degradation can cause the propellant to burn too quickly, rupturing the inflator module and sending shrapnel through the air bag and into the vehicle occupants,” NHTSA said. Consumers will receive recall notices, in the “largest and most complex safety recall in U.S. history,” and officials said they should not delay getting their airbags repaired once replacement parts are available.

 My thoughts when I saw one on a flatbed. If your Nissan Leaf is involved in an accident, and you buy a new one, does that mean the owner has turned over a new leaf? Just asking.

 More than 108,000 Nissan Rogues are being recalled from model years 2014 – 2016. Nissan said the rear hatch could fall on owners without warning due to salt water getting into the lift supports and causing rust. No such incidents have been reported here in the U.S. Nissan said.

 Did you buy a car at an auto auction last year? Lots of people did. The National Auto Auction Association said 9.3 million vehicles were auctioned off last year, a gain of 6.5 percent over 2014. Prices rose nearly 11 percent to a record total of $90.6 billion.

 It is unsafe to operate a motor vehicle if you got less than 2 hours of sleep in the past 24 hours, according to the National Sleep Foundation. It said most healthy drivers would likely be impaired with only three to five hours of sleep during the prior 24 hours. “We believe this simple definition for drowsy driving will serve as a powerful tool to help policy makers create safe roads and drivers to make sound decisions,” said David Cloud, CEO of the National Sleep Foundation. It said sleep deprived drivers cause more than 6,400 death and 50,000 debilitating injuries each year.

 

 

 

 

 

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