The Bank of Russia unexpectedly maintained its key interest rate at a record-high 21% , defying analysts’ expectations of another significant hike as inflation remains stubbornly elevated. The decision marks a shift toward a more measured approach in balancing economic growth and price stability. Key Details Inflation Concerns: Annual inflation climbed to 8.9% in November, well above the central bank’s 4% target , with inflation expectations reaching 13.9% in December. Policy Rationale: The central bank cited the significant tightening of monetary conditions after October’s 200-basis point hike as sufficient to resume disinflationary processes. Governor Elvira Nabiullina emphasized avoiding both economic overheating and severe slowdowns. Economic Overheating: Elevated government spending on the war in Ukraine and social programs, coupled with labor shortages and rising wages, have fueled strong domestic demand, exacerbating price pressures...
Tesla is recalling over 1.8 million vehicles in the US due to a software failure that may not detect an unlatched hood, according to the National Highway Traffic Safety Administration (NHTSA). An unlatched hood could fully open and obstruct the driver's view, increasing the risk of a crash.
Tesla has begun rolling out an over-the-air software update to address the issue, which will detect an open hood and alert drivers. The recall affects certain 2021-2024 Model 3, Model S, Model X, and 2020-2024 Model Y vehicles, all equipped with a hood latch produced in China by Magna Closures Co Ltd.
The company started investigating customer complaints of unprompted hood openings in certain Model 3 and Model Y vehicles in China in March. Although fewer incidents were reported in Europe and North America, Tesla initiated engineering studies in these regions last month and decided to issue a recall.
This recall is Tesla's largest since December last year, when it recalled 2.03 million US vehicles to install new safeguards in its Autopilot system. Following reports of 20 crashes involving vehicles with the new Autopilot update, the NHTSA has opened a probe citing "several concerns."
Tesla recently posted its worst quarterly profit margin in over five years, highlighting the company's struggle to boost auto sales amid slowing demand.
Key Takeaways:
- Tesla is recalling over 1.8 million vehicles in the US due to an unlatched hood issue.
- An unlatched hood can obstruct the driver's view, increasing crash risk.
- Affected models include 2021-2024 Model 3, Model S, Model X, and 2020-2024 Model Y.
- Tesla is rolling out a software update to fix the detection issue.
- The recall follows previous large-scale recalls, including a significant Autopilot system update last year.
- The NHTSA is probing Tesla's Autopilot system following crash reports.
- Tesla recently reported its lowest quarterly profit margin in over five years.
Comments
Post a Comment