Tesla Gets One More Problem—a Big Recall

A rough week for Tesla just a got a little rougher, with the company announcing a recall of 123,000 Model S sedans because of rusty bolts. Specifically, the issue affects vehicles made before April 2016, particularly those in colder climates where road salt can corrode power steering bolts. In an email to customers, the company says no accidents or injuries have been reported. At worst, the car loses power steering, meaning drivers need to use a little more force. Still, it amounts to the automaker's biggest-ever recall, surpassing one of 90,000 vehicles in 2015 over a faulty seat belt, reports the Verge.

The news comes days after the NTSB announced it was investigating a fatal crash in California in which a Tesla Model X slammed into a highway barrier and caught fire, reports Bloomberg. The 38-year-old driver was killed, though it remained unclear whether the vehicle was in self-driving mode at the time. The NTSB is particularly interested in why the car caught fire after the crash. Also this week, Moody's dropped Tesla's credit rating on concerns the company isn't meeting production goals on Model 3s, reports the Wall Street Journal. Tesla's stock has dropped 20% over the last month, with investors anxious to see the quarterly update next week. (More Tesla stories.)