FSD Transferability for Limited Time, Vehicle Recall for Models S, X and Y, New Vehicle Financing Option, and New ‘Auto Navigation’ Feature
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FSD Transferability for Limited Time
Tesla surprised many customers this past week by allowing a one-time opportunity to transfer their Full Self-Driving (FSD) package during the next three months, coming after high customer demand for FSD transferability. The move enables existing Tesla owners to upgrade to a new model without having to repurchase the FSD package, which sells for $15,000 in the US. However, this is a temporary offer and customers must place an order within the 3rd quarter to take advantage of this one-time amnesty, meaning customers must take delivery of their new titled Tesla between July 20, 2023, and September 30, 2023 to be eligible. It’s also important to note that Tesla currently offers an FSD monthly subscription at $199 per month, cancelable at any time.
Vehicle Recall for Models S, X and Y
Tesla is recalling around 16,000 Model S and Model X units due to a problem with the front-row seat belts. Some vehicles from 2021-2023 may have seat belts that are not properly connected to the pretensioner anchors, which could lead to detachment. Tesla will inspect and fix the issue by connecting the seat belts correctly, and if necessary, replacing the entire assembly for free. So far, there have been 12 warranty claims but no field reports of any accidents or injuries related to this problem. In addition to this, Tesla is also recalling 1,337 units of the 2023 Model S, Model X, and Model Y. This recall is for a misaligned forward-facing camera, which may disable certain active safety features without warning the driver. Tesla will resolve this by adjusting the camera's pitch angle on affected vehicles. There have been 83 warranty claims and 2 field reports related to this issue, but no injuries, deaths, or crashes have been reported.
New Vehicle Financing Option Soon
Tesla has introduced an 84-month financing option for its U.S. customers, extending the maximum loan tenure from 72 to 84 months. This move aims to offer greater financial flexibility amid rising interest rates and market pressures. While the default loan term remains 72 months, customers can now opt for an 84-month loan, albeit with a higher interest rate. Elon Musk acknowledged the need to respond to interest rate hikes, emphasizing that longer-term loans bring lower monthly payments but result in higher total costs due to accrued interest. Tesla's new financing option may boost demand, especially among customers seeking more financial flexibility. The longer loan term can decrease monthly payments and make Tesla vehicles more affordable.
New ‘Auto Navigation’ Feature
Tesla has recently launched software update version 2023.26, introducing several exciting features including an enhanced Spotify playlist functionality, support for Bluetooth game controllers for Model 3 and Model Y, as well as other smaller changes. One of the new features is Automatic Navigation. With this update, when you enter your vehicle, you will be presented with the suggested destination on the screen, along with your estimated time of arrival, battery level upon arrival, and a photo of the destination (if available). The display will also indicate whether the automatic navigation is based on a calendar event or if it's heading home or to work based on your location and time of day. You can either begin driving to automatically start the route or choose to cancel the suggested destination. Besides this new feature, the update also includes changes to the recommended charging limit and adds "blue dots" to recently updated apps. Tesla is currently rolling out the 2023.26 update to its customers, and the availability of the update is based on various factors like vehicle configuration, hardware, and region.