Elon Musk Defends Tesla Model S, Says Issues Have Already Been Addressed

• Shares of Tesla Motors Inc (NASDAQ: TSLA) initially sold off nearly 10 percent this week after Consumer Reports said it can no longer recommend owning the Model S sedan.
• Tesla's stock bounced higher during Thursday's pre-market session as the company's CEO Elon Musk defended his products.
• Musk tweeted that the Consumer Reports reliability survey focused on issues that pertained to early production cars and has already been addressed in new cars.

Shares of Tesla took a sharp turn lower on Tuesday after Consumer Reports indicated it can no longer recommend consumers buy a Model S sedan.

Related Link: Tesla Shares Crash After Consumer Reports Pulls Model S Recommendation

The magazine surveyed 1,400 Model S owners who weren't fully satisfied with their vehicle. Investors and traders found the report rather concerning as Consumer Reports rated the Tesla Model S P85D sedan in August with a 103-point score out of a possible 100.

Consumer Reports' concluded its report by slapping the Model S sedan with a "worse-than-average" rating.

Shares of Tesla traded lower by nearly 10 percent on Tuesday before slightly rebounding. Nevertheless, the stock is still lower by nearly 5 percent since Monday.

Musk Out With An Explanation

Tesla's CEO Elon Musk took to Twitter on Wednesday to defend his products. His explanation was concise and to the point: "Consumer Reports reliability survey includes a lot of early production cars. Already addressed in new cars."

Consumer Reports reliability survey includes a lot of early production cars. Already addressed in new cars.

— Elon Musk (@elonmusk) October 21, 2015

Shares were trading higher by nearly 1 percent with more than an hour to go before Thursday's opening bell.