The National Highway Traffic Safety Administration confirmed Thursday it's looking into reports that Tesla's Autopilot software has a glitch that causes so-called phantom braking. Tesla stock fell.
Phantom braking occurs when a self-driving system applies the brakes for no apparent reason. The problem is not a new one for Tesla drivers. But complaints about sudden, unexpected braking have become more frequent in recent months.
The NHTSA said in a notice that it had received 354 complaints "alleging unexpected brake activation in 2021-2022 Tesla Model 3 and Model Y vehicles."
The agency added that the problem occurred "while driving at highway speeds." The report also said that the complaints allege that the "rapid deceleration can occur without warning, at random, and often repeatedly in a single drive cycle."
The NHTSA is conducting a significant probe of Tesla Autopilot crashes into stationary emergency vehicles. The agency also has pushed Tesla to announce several recalls in recent months, most of which are addressed by over-the-air software fixes.
Tesla Model 3 Loses Best EV Pick Status
Meanwhile, Consumer Reports said Thursday that the Ford Mustang Mach-E beat the Tesla Model 3 as Consumer Reports' top electric vehicle of 2022.
Consumer Reports says reliability data it has collected, testing and owner reviews make the Mach-E a top pick.
Tesla Accuses SEC Of Harassment
The safety probe comes as Tesla accuses the Securities and Exchange Commission of "unrelenting harassment" of the company and CEO Elon Musk in a Manhattan court filing Thursday, according to a Reuters report.
The SEC sued Musk in August 2018, after he tweeted he had funding to take Tesla private. But the buyout was in fact not imminent. Tesla and Musk settled the suit. Each agreed to pay $20 million in civil fines and to let Tesla lawyers vet some of Musk's tweets that could affect stock prices.
But Musk continues to tweet about Tesla stock, seemingly without restrictions. On Nov. 6, he asked Twitter followers if he should sell 10% of Tesla stock, triggering a sell-off. As a result, the SEC issued a new subpoena in November 2021 to again look into his actions.
Tesla Stock
Shares fell 5.1% to 877.35 on the stock market today, with the broader market sell-off no doubt having an impact. Tesla stock is trading below its slumping 50-day line but still holding above its 200-day line according to MarketSmith.
TSLA stock is 29% below its 52-week high of 1243.49. Its relative strength rating has been trending downward near multimonth lows.
Tesla's RS Rating is 91 out of a best-possible 99. Its EPS Rating is 73.
Shares of the IBD Leaderboard stock popped on Monday on China sales data for January.
Tesla sold 59,845 China-made Model 3 sedans and Model Y SUVs last month. Most of those, 40,499, were exported mainly to Europe. Only 19,346 were sold locally, vs. 70,602 in December.
Ford stock was down 2.6%. Among other U.S.-based EV makers, Rivian dipped 2.3%, reversing solid morning gains. Lucid fell 3.1% after peeking above its 200-day line intraday.
China EV and battery giant BYD rose 1.8%, back above its 200-day line but hitting resistance at its falling 50-day average.
Follow Adelia Cellini Linecker on Twitter @IBD_Adelia.
