U.S. auto safety regulators said on Wednesday that they will investigate complaints involving the mechanical emergency door releases on certain 2022 Tesla (TSLA) Model 3 vehicles. The probe, confirmed by the National Highway Traffic Safety Administration (NHTSA), will cover 179,071 cars. The review focuses on whether drivers and passengers can easily locate and use the mechanical door release during emergencies, especially if the vehicle loses electrical power.
Claim 70% Off TipRanks This Holiday Season
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
The investigation began after the agency’s Office of Defects Investigation received a petition on November 24 requesting a formal review. The petition argues that the mechanical door release is hidden, not clearly labeled, and difficult to find in a high-stress situation. The NHTSA also confirmed that it has received one complaint involving an injury related to the issue. More specifically, that complaint described a crash in which the car lost power and caused the electric door releases to stop working.
According to the account, the vehicle’s interior caught fire, and the driver said they did not know where the mechanical release was located. As a result, they escaped by climbing into the back seat and breaking a rear window, but suffered serious injuries, including a broken hip and arm that later required surgery. Separately, media reports have also suggested that both vehicle occupants and emergency responders have struggled at times to open Tesla Model 3 doors after crashes.
What Is the Prediction for TSLA Stock?
Turning to Wall Street, analysts have a Hold consensus rating on TSLA stock based on 11 Buys, 12 Holds, and nine Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average TSLA price target of $385.34 per share implies 20.6% downside risk.
