KUALA LUMPUR, Dec 5 (Bernama) -- Bursa Malaysia closed lower on Friday amid mixed regional market performance as investors turned cautious over a possible rate hike by the Bank of Japan (BOJ) and upcoming US economic data that may influence the Federal Reserve’s (Fed) interest rate decision next week. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) pared most earlier losses to settle 4.55 points easier, or 0.28 per cent, to 1,616.52 from Thursday’s close of 1,621.07. The benchmark index, which opened 0.37 of-a-point lower at 1,620.70, moved between 1,609.67 and 1,621.25 throughout the day. The broader market was negative, with decliners outpacing advancers 604 to 439. A total of 550 counters were unchanged, 1,151 untraded, and 18 suspended. Turnover declined to 3.17 billion units worth RM2.24 billion from 4.48 billion units worth RM2.75 billion yesterday. Rakuten Trade Sdn Bhd vice-presiden...
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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