PRESS DIGEST - Wall Street Journal - Sept 28
Sept 28 The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy.
(Adds statement from Telsa)
DETROIT Aug 11 Consumer Reports, which last year gave top marks to electric carmaker Tesla Motors Inc's Model S sedan, now says the car it owns has had "more than its share of problems."
While the car has impressed staff at the influential U.S. consumer magazine with its "smoothness, effortless glide and clever, elegant simplicity," there have been many quirks that might dampen consumers' experiences, Consumer Reports said in a statement on Monday.
Consumer Reports, which anonymously buys the vehicles it tests from auto dealerships, said the Model S it owns now has traveled nearly 16,000 miles. Its 2013 Model S was purchased for $89,650 in January of that year.
"Just before the car went in for its annual service, at a little over 12,000 miles, the center screen went blank, eliminating access to just about every function of the car," the magazine said in its statement.
Tesla fixed the issues on the magazine's Model S under warranty. These included a "hard reset" to restore the car's functions after its center screen went blank and problems with the automatic retracting door handles, which were occasionally reluctant to emerge.
Last November, Consumer Reports ranked the Model S best among all cars on the market in its annual survey of vehicles on U.S. roads. And in May 2013, the magazine awarded the Tesla sedan 99 out of a possible 100, one of the best ratings it has ever given an automobile.
The base version of the Model S starts at around $70,000.
Tesla said in statement that it considers service a top priority.
"We err on the side of being proactive to ensure the best driving experience possible," it said. "That means we are particularly attentive in addressing potential issues, even if those issues appear to be very minor or have a low likelihood of causing any future problems.
"We take these actions with the customer's convenience and satisfaction top of mind and strive to go above and beyond the expected level of service.
"In addition, we are constantly upgrading the functionality, features and quality of every Model S through the free over the air updates we provide to every owner," it said.
Tesla has been one of the hottest U.S. stocks this year, more than doubling its value. It closed on Monday at $259.32 per share, up 4.5 percent.
Tesla's only production model is the Model S, but next spring it plans to introduce a crossover electric car, the Model X. (Reporting by Bernie Woodall. Editing by Andre Grenon)
* Gryphon will apply for its shares to be suspended from trading on Asx from close of trading on 29 sept 2016
Sept 28 The following are the top stories on the New York Times business pages. Reuters has not verified these stories and does not vouch for their accuracy.