Consumer Reports, recently mentioned in one of its posts that it has found some minor issues with its long term usage of Tesla Motors Inc (NASDAQ:TSLA)‘s Model S. If it would have been from some other source, this news wouldn’t have garnered significant attention, but coming from an influential magazine that accepts no advertising, it has made Wall Street sit back and take notice. The magazine mentioned that the car it has tested has been driven 15,743 miles and that it won’t be changing Tesla Motors Inc (NASDAQ:TSLA)’s Model S ‘average’ rating as of now, not until the data from its this year’s reliability survey is factored in. However, it’s also worth mentioning that earlier Consumer Reports had given Tesla Motors Inc (NASDAQ:TSLA)’s Model S a rating of 99 out of 100 when it reviewed it, calling it the best car it has tested.
Jim Cramer, discussed the article of Consumer Reports and how it is going to affect Tesla Motors Inc (NASDAQ:TSLA)’s stock on CNBC, today.
“I thought they will build 80,000 cars in 2017, this report [Deutsche Bank's Report on Tesla Motors Inc (NASDAQ:TSLA)] says they are going to 129,000 cars. Remember, they used the magic 500,000 car figure. Well, a lot of this depends on the resale value,” Cramer said.
Cramer then took a dig on the minor issues highlighted by Consumer Reports on Tesla Motors Inc (NASDAQ:TSLA)’s Model S, including its battery, saying that Elon Musk could buy Consumer Reports and shut it down if he wants. He also discussed how Consumer Reports was actually the one who made Tesla Motors Inc (NASDAQ:TSLA)’s Model S a star by giving it a 99 out of 100 rating and started the short squeeze in Tesla Motors Inc (NASDAQ:TSLA)’s shares, wondering if what Consumer Reports has given Tesla Motors Inc (NASDAQ:TSLA) can be taken back from the company.
“At this point, those of us who have driven the Tesla, we are kind of harder than we were before we drove the Tesla. I feel different about myself,” Cramer added.