KUALA LUMPUR, July 30 (Bernama) -- Bursa Malaysia's key index closed at an intraday high today, supported by continued buying interest even as renewed geopolitical tensions and a weaker overnight lead from Wall Street following the US Federal Reserve's (Fed) decision to stand pat on interest rates weighed on broader sentiment. The Fed has decided to hold rates steady for the fifth consecutive meeting, with the Federal Funds Rate unchanged between 3.50 per cent and 3.75 per cent. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.84 points to 1,720.40 from yesterday’s close of 1,715.56. The benchmark index, which opened 1.14 points lower at 1,714.42, hit its lowest level of 1,710.69 in early trade before gaining momentum for the rest of the day. However, the broader market was negative with losers outpacing gainers 581 to 411, while 612 counters were unchanged, 1,173 untraded, and 87 suspended. Turnover declined to 2.49 billion units valued at RM2.25 billion from ...
Tesla Inc. announced the recall of 694,304 vehicles in the United States on Friday due to a tire pressure monitoring system (TPMS) issue that may fail to alert drivers to low tire pressure.
Key Details
1. Recall Scope
- Affected Models:
- Model 3, Model Y, and Cybertruck vehicles.
- Issue:
- The TPMS warning light may not stay illuminated between drive cycles, potentially causing drivers to unknowingly operate vehicles with improperly inflated tires, increasing the risk of a crash.
2. Resolution
- Tesla will address the issue with an over-the-air (OTA) software update, a hallmark of the company’s approach to recalls.
Tesla Recall Trends
1. 2024 Recall Statistics
- Tesla vehicles accounted for 21% of all US recalls in the first three quarters of the year, according to BizzyCar.
- Most recalls were resolved through OTA software updates, avoiding the need for physical repairs.
2. September Quarter Recalls
- Tesla recalled 1,858,774 vehicles, the highest in the US, with all issues addressed via software updates.
3. Cybertruck Recalls
- In November, Tesla recalled 2,400 Cybertruck units in the US due to a faulty part that could lead to power loss and crash risk. This marked the sixth recall for Cybertruck in 2024.
Impact and Outlook
- Tesla's ability to resolve issues via software updates minimizes disruption for customers, enhancing its reputation for quick fixes. However, the high volume of recalls highlights quality control concerns that the company will need to address as it scales production.
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