On February 3, the U.S. National Highway Traffic Safety Administration announced that Tesla, the world’s largest electric vehicle manufacturer, recalls more than 817,000 vehicles over seat belt reminder alert.
In 2021, Tesla's global sales increased by approximately 87.4% year-over-year to 936,000 units. However, the number of recalled vehicles is equivalent to 87.2% of its annual sales.
This recall announcement impacted four models under Tesla, including Model S, Model X, Model 3, and Model Y. Officials claimed that this conduct was due to a software problem that prevents the buzzer from activating when the drive fails to fasten the seat belt and vehicle is started in question.
On the other hand, the seat belter reminder alert has not resulted in any known injuries or deaths. Accordingly, Tesla will solve this problem in February. On the day the recall was announced, Tesla shares closed at USD 891.14 per share, dropping by 1.6 percent. However, by the next day, the company’s share closed at USD 923.32 per share, increasing by 3.61%.
EV-Volumes released a global new energy vehicle sales figure for 2021. The data showed that cumulative global EV sales for the year rose 108% year-over-year to 6.5 million units, with global registrations of new energy models reaching 907,000 units in December 2021, significantly surpassing the record of 720,000 units in November. Tesla is the only car company with a market share of more than 10% in the world.