The National Highway Traffic Safety Administration, or NHTSA, said Wednesday it has launched an investigation of the Tesla Inc. TSLA Model Y SUV after receiving two complaints that the steering wheel detached. The regulator said both times, the cars were delivered to the owners missing the retaining bolt that attaches the steering wheel to the steering column. “Sudden separation occurred when the force exerted on the steering wheel overcame the resistance of the friction fit while the vehicles were in motion,” it added. The incidents happened while both cars were at low vehicle mileage. A preliminary evaluation has been launched to assess the scope, frequency and manufacturing processes associated with this condition, it said. Tesla stock was down 1.5% premarket and has fallen 32% in the last 12 months, while the S&P 500 SPX has fallen 4.4%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.