Well-known Tesla fanatic and investment guru Jim Cramer doesn’t agree with J.D. Power’s recent quality survey that ranked the electric automaker in dead last out of 32 brands.
Earlier this week, American data analytics company J.D. Power released its annual quality survey that found Tesla cars to hold an average of 250 problems per 100 vehicles. The report indicated that this year’s report was Tesla’s first time taking part in the survey and that its cars held a significant number of defects related to build quality.
But Cramer doesn’t buy the report, and he thinks it’s “nonsense.”
Cramer, a Tesla owner and supporter himself, refused to believe that the automaker was plagued with issues related to build quality. As the driver of a Model X SUV, Cramer has consistently stated that the company’s products are fun, reliable, and point to a future of sustainable transportation. But the J.D. Power survey certainly struck a nerve with the former hedge fund manager turned TV personality.
“Tesla’s great,” Cramer stated in a survey with TheStreet. “It’s like Land Rover; people also think Land Rover is bad. I’ve gotta 1994 Range Rover, its unbelievable…it actually goes up in value. I believe Teslas will go up in value, and I think these surveys are stupid.”
Cramer went on to explain the brand loyalty that Tesla has acquired over its 12-year history of cranking out electric cars, claiming that he’s never heard anyone talk negatively about their ownership experience.
“I don’t know a soul who owns a Tesla who actually doesn’t think that it isn’t the greatest thing to ever happen,” Cramer added.
Interestingly enough, Tesla has confronted issues with the build quality of its cars for years, and a Bloomberg survey of 5,000 Model 3 owners performed in October stated problems with the car’s build had gotten noticeably better.
From claims of “soft” and improper paint, body gaps, and poorly installed components, Tesla utilized the information from real owners to improve its vehicles exponentially. Many of the reported quality issues occurred when Tesla was amidst “production hell” for the Model 3, as the company’s Fremont facility was working long and stressful hours in an attempt to ramp the sedan which would infiltrate the mass-market sedan sector.
Improvements were made, and after Consumer Reports slashed the affordable sedan from its recommendation list, CR recommended the Model 3 once again, citing “improved reliability.”
Before taking delivery of a vehicle, owners are encouraged to inspect the car looking for possible issues with panel gaps or other indicators of lackluster build quality. If something is found, the automaker will fix the problem.
Tesla’s most recent release of the Model Y showed that panel gaps had improved compared to the first releases of the Model 3. Automotive veteran Sandy Munro stated in his first episode of the Model Y teardown that, “for an early-stage product, this is pretty good.”
J.D. Power’s survey recognized Dodge as the most reliable brand, but Tesla’s last-place finish in the rankings is controversial. After the Silicon Valley-based automaker has made strides to improve the build quality of its vehicles since hearing complaints, the company’s cars have regained recommendations from former critics.