Tesla Drops To 23rd In Consumer Report's Car Brand Ranking Tesla Inc (NASDAQ:TSLA) lost seven spots in the latest Consumer Report ranking of the best automotive brands. Elon Musk's electric vehicle (EV) giant dropped from 16th to 23rd while its...
By Cristian Bustos •
This story originally appeared on ValueWalk
Tesla Inc (NASDAQ:TSLA) lost seven spots in the latest Consumer Report ranking of the best automotive brands. Elon Musk's electric vehicle (EV) giant dropped from 16th to 23rd while its Model 3 lost the spot as the best EV to the Mustang Mach-E by Ford Motor Company (NYSE:F).
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Moving Positions
As reported by CNN, Tesla lost seven places in the best EV brands ranking by Consumer Report, while its model three was dethroned from the top and now tails Ford's Mustang Mach-E and the Niro by Kia Corp (KRX:000270).
"The drop was mainly due to the difficult-to-use yoke steering wheel the automaker recently debuted on the updated version of those models," according to the media outlet.
Consumer Reports asserts that the steering wheel problem was all it took to dent the vehicle's road-test performance. Also, the Model 3 is the only Tesla model that the organization recommends among the Model Y, Model X, and Model S.
In an article about the rankings, CR says: "Make no mistake, the Model 3 is still a great choice, and Consumer Reports recommends it."
Reliability Issues
The Model 3, the article also says, "shines with the latest technology, a long-range, an impressive charging network, and a driving experience closer to a high-performance sports car than a sedan. But the Mustang Mach-E is also very sporty, plus it's more practical and easier to live with. The Ford is also quieter and rides better."
In 2013, when CR reviewed the Tesla Model S for the first time, it said it was the best vehicle the publication had tested up to that point. However, the reliability issues that have hogged media headlines have affected the car's position in the same ranking.
As for Ford, "The Mach-E has been winning critical praise elsewhere as well, including Car and Driver's first EV of the Year award last year," CNN recalls.
Tesla and Ford are part of the Entrepreneur Index, which tracks 60 of the largest publicly traded companies managed by their founders or their founders' families.
