• Top Stories
  • Interviews
  • Business
  • Finance
  • Banking
  • Technology
  • Investing
  • Trading
  • Videos
  • Awards
  • Magazines
  • Headlines
  • Trends
Close Search
00
GBAF LogoGBAF Logo
  • Top Stories
  • Interviews
  • Business
  • Finance
  • Banking
  • Technology
  • Investing
  • Trading
  • Videos
  • Awards
  • Magazines
  • Headlines
  • Trends
GBAF Logo
  • Top Stories
  • Interviews
  • Business
  • Finance
  • Banking
  • Technology
  • Investing
  • Trading
  • Videos
  • Awards
  • Magazines
  • Headlines
  • Trends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking and Finance Review

Global Banking & Finance Review

Company

    GBAF Logo
    • About Us
    • Profile
    • Wealth
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2024 GBAF Publications Ltd - All Rights Reserved.

    ;
    Editorial & Advertiser disclosure

    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Top Stories

    Posted By Uma Rajagopal

    Posted on August 14, 2024

    Featured image for article about Top Stories

    (Reuters) -The National Highway Traffic Safety Administration said on Wednesday it has closed a preliminary evaluation into 74,918 Tesla vehicles over front suspension failures.

    The auto safety agency’s Office of Defects Investigation had opened a probe into the issue in 2020, based on complaints alleging failure of front suspension fore links in 2015-2017 Tesla Model S and 2016-2017 Model X vehicles.

    A failed fore link, a crucial component of a vehicle’s suspension system could cause additional damage to other parts.

    However, the agency said it closed the investigation as no instance showed that a failure of the part prevented the ability to control the vehicle in testing and reported instances of failure.

    Reuters reported in December that tens of thousands of owners had experienced premature failures of suspension or steering parts since 2016, citing Tesla documents and interviews with customers and former employees.

    The documents showed that the automaker sought to blame drivers for frequent failures of suspension and steering parts it has long known were defective.

    “One minor crash with no injuries is associated with the 426 instances of fore link failures. A majority of the failures occurred between one to fifteen mph while parking in driveways or parking lots,” the regulator said in a notice.

    Tesla did not immediately respond to a request for comment on closing of the investigation.

    The NHTSA said closure of the evaluation does not mean there were no safety issues, and the agency’s records show that Tesla has had nine recalls in the United States for steering and suspension issues since 2018.

    The Elon Musk-led EV maker had issued a consumer satisfaction bulletin in 2017 to replace the component in some vehicles made between January and May 2016, but it does not cover 75% of instances of failures identified in the investigation, NHTSA said.

    It recommended that Tesla expand terms of the bulletin to cover all vehicles equipped with fore links.

    (Reporting by Akash Sriram in Bengaluru; Editing by Mrigank Dhaniwala and Varun H K)

    Recommended for you

    • Thumbnail for recommended article

    • Thumbnail for recommended article

    • Thumbnail for recommended article

    Why waste money on news and opinions when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe