Malaysia’s benchmark index retreated as profit-taking in key heavyweights weighed on sentiment, while overall market activity remained active. Summary FBM KLCI fell 0.83% to 1,684.93 , dragged by losses in banking and selected large-cap names, despite steady trading participation. Market Performance FBM KLCI : 1,684.93 (-0.83%) FBM Mid 70: -0.00% (flat) FBM Small Cap: -0.23% FBM ACE: +0.20% Broad market was mixed , with weakness concentrated in large caps. Market Breadth & Trading Activity Total volume: 3.54 billion shares Total value: RM4.19 billion Gainers: 456 Losers: 678 Unchanged: 550 Market breadth turned negative , reflecting cautious sentiment. Top Movers – KLCI Gainers Axiata (6888.MY) +1.54% Petronas Gas (6033.MY) +1.18% Sunway (5211.MY) +1.15% Losers Hong Leong Bank (5819.MY) -3.29% Maybank (1155.MY) -3.02% CIMB (1023.MY) -2.47% Banking sector weakness was the main ...
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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