Tesla's Reliability Reputation Gets A Boost As Elon Musk-Led EV Giant Enters Consumer Reports' Top 10 List

• Tesla’s relatively fewer design changes compared to its rivals have helped the company improve the reliability of its cars, said Consumer Reports’ Jake Fisher.
• Its newest car, the Cybertruck, is the only model to have received a below-average score, according to a CNBC report.
• Tesla’s rival Rivian Automotive came in dead last on an overall basis as well as in terms of new car reliability.

Tesla Inc. (TSLA) has made it to the top 10 list for reliability according to the latest Consumer Reports ranking.

The Elon Musk-led EV giant ranked ninth in new-car reliability and fifth in maintenance and repair costs, according to Consumer Reports.

According to a Bloomberg report, Tesla has moved up Consumer Reports’ reliability rankings this year, from 17th in 2024 and 27th out of 28 brands in 2022.

Tesla shares were up nearly 1% in Tuesday morning’s trade. Retail sentiment on Stocktwits around the company trended in the ‘bullish’ territory at the time of writing.

Improving Reliability

Tesla’s relatively few design changes compared to its rivals have helped the company improve the reliability of its cars, said Consumer Reports’ Jake Fisher, according to CNBC.

“They definitely have their struggles, but by continuing to refine and not make huge changes in their models, they’re able to make more reliable vehicles, and they’ve moved up our rankings,” Fisher said, according to the report, noting that Tesla can improve reliability if it doesn’t make any major changes to its cars.

While Tesla has come under scrutiny for not refreshing its portfolio, its newest car, the Cybertruck, is the only model to have received a below-average score, the report added.

Overall Score

Overall, Tesla ranked 10th among 26 car brands. Its highest rank was in the owner satisfaction category, where it came in fourth.

However, in terms of used-car reliability, Tesla ranked 26th.

Tesla rival Rivian Automotive Inc. (RIVN) came in dead last overall and in new-car reliability. It topped the charts for owner satisfaction, though.

TSLA stock is up 11% year-to-date and 26% over the past 12 months.

Also See: Jobless Claims Fall To Lowest Level Since September 2022

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