Tesla shows small gain after seat belt reminder recall is brushed off by investors
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The National Highway Traffic Safety Administration announced a recall of 817K Tesla (NASDAQ:TSLA) 2021-2022 Model S and Model X vehicles, 2017-2022 Model 3 vehicles, and 2020-2022 Model Y vehicles for what it said is a failure to comply with a federal motor vehicle safety standard on "Occupant Crash Protection" regarding a chime warning that may not activate under certain conditions.
Under the recall action, Tesla (TSLA) will perform an over-the-air software update to fix the issue.
Tesla told the safety regulator that it is unaware of any crashes or injuries related to the seat belt reminder issue.
Shares of Tesla (TSLA) rose 0.55% in mid-day trading as the OTA nature of the recall does not appear to be alarming investors.
Earlier this week: Tesla could cut prices this year to keep its market share.