Tesla Proactively Recalling S, X Models

Tesla (NASDAQ: TSLA) announced it is voluntarily recalling 53,000 Model S and Model X vehicles over a potential issue which could prevent the parking brake from releasing.
The company put out a release Thursday afternoon saying electric parking brakes installed on Model S and Model X vehicles built between February and October 2016 "may contain a small gear that could have been manufactured improperly by our third-party supplier."
The car maker headed by Elon Musk expressed the opinion that the issues would not necessarily lead to a safety concern for drivers, nor has been a mishap or injuring relating to the issue. But Tesla adds that, is “in order to be cautious” it is acting proactive I replacing the parts to head off any potential issues.
If the gear were to break, the brake would remain engaged, but the parking brake would also be stuck in place. Tesla estimates that only 5% of the cars it is recalling will be affected and that replacement could take place in less than an hour.
The company said it would mail out official recall notices to owners, then begin replacing parts immediately, and plans to have parts for all affected vehicles by October.
Tesla had said last year it would recall 2,700 Model X sport utility vehicles in the United States due to a faulty locking hinge in third-row seats.
Tesla shares dropped on the news $2.80, or 0.9%, to $302.67 U.S., on volume of 5.2 million, compared to an all-day average of 5.8 million