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Tesla Model S no longer recommended by Consumer Reports

Electric automaker’s stock falls nearly 10% By ,

In a shocking twist of events, the highly praised Tesla Model S has lost its perfect rating from Consumer Reports as well as the magazine’s recommended designation due to reliability concerns.

That’s right: Barely two months after scoring 103 points out of a possible 100 (!), the Model S is starting to worry some people. A survey of 1,400 owners revealed problems with the drivetrain, power equipment, charging equipment, centre console, as well as squeaks, rattles, and leaks with the body and sunroof, reports.

 “From that data we forecast that owning that Tesla is likely to involve a worse-than-average overall problem rate,” wrote Mark Rechtin in an updated review. “It also means the Model S does not receive Consumer Reports’ recommended designation.”

Vehicles recommended by Consumer Reports must have an average or better predicted problem rate.

As a result, Tesla’s stock fell more than 9% in just under two hours yesterday, representing a $2.5 billion loss in market cap.