💥 Fed cuts sparks mid cap boom! ProPicks AI scores with 4 stocks +23% each. Get October’s update first.Pick Stocks with AI

EVs, full-size pickup trucks least reliable - Consumer Reports survey

Published 2022-11-15, 12:03 p/m
© Reuters. FILE PHOTO: Model Y cars are pictured during the opening ceremony of the new Tesla Gigafactory for electric cars in Gruenheide, Germany, March 22, 2022. Patrick Pleul/Pool via REUTERS/File Photo

(Reuters) - Electric vehicles (EVs) and full-size pickup trucks were the two most problematic categories in terms of reliability, Consumer Reports magazine's annual reliability survey showed on Tuesday, as Asian brands once again dominated overall rankings.

Hybrid vehicles and mid-sized or large sedans were among the most reliable, according to the survey.

The magazine's annual survey of new vehicle reliability predicts which cars will give owners fewer or more problems than their competitors, based on data collected. Its scorecard is influential among consumers and industry executives.

Tesla Inc (NASDAQ:TSLA)'s EVs, on which Consumer Reports received the most data from owners, continue to face issues with body hardware, steering/suspension, paint and trim, and climate system, but their electric powertrains have very few problems, according to the survey.

However, Tesla improved its ranking by four places to No.19 this year, with Mercedes-Benz slipping five slots to rank the least reliable among all brands, the survey showed.

EV owners from other manufacturers reported charging and battery problems, as well as electric drive motor issues. Of the 11 EV models on which Consumer Reports has sufficient data, only four have average or "better predicted reliability".

The top-ranked brands in the survey were Toyota and Lexus, and seven of the ten best-scoring brands were from Japan and South Korea.

Among brands owned by Detroit automakers, Ford Motor (NYSE:F) Co's Lincoln was the only one in the top ten, securing 10th place.

© Reuters. FILE PHOTO: The logo of Tesla is seen in Taipei, Taiwan August 11, 2017. REUTERS/Tyrone Siu/File Photo

All of General Motors Co (NYSE:GM)'s brands dropped in Consumer Reports' rankings, with Buick ranked highest at 11th. Among Stellantis' brands, Ram ranked highest at 16th.

Amid rising vehicle prices, 94% of prospective automobile buyers consider reliability to be "extremely" or "very" important, the survey showed.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.