Tesla recalling more than 48,000 Model 3 vehicles due to problem with speedometer
An over-the-air software update will fix the issue, Tesla says
Tesla stock up after Shanghai factory reopens
FOX Business' David Asman and Susan Li discuss Tesla, Twitter, American Express, Verizon, Snap Inc., airlines and Old Navy.
Tesla issued a recall for 48,184 Model 3 cars due to a problem with the speedometer's display while in "Track Mode."
The company will perform an over-the-air software update to fix the issue free-of-charge.
Track Mode is "designed to modify the stability control, traction control, regenerative braking, and cooling systems to increase performance and handling while driving on closed circuit courses," according to Tesla.
Tesla Inc. vehicles sit in a parking lot before being shipped from the Port of San Francisco in San Francisco, California, U.S., on Thursday, Feb. 7, 2019. (David Paul Morris/Bloomberg via Getty Images / Getty Images)
A firmware update released last year unintentionally made the speedometer drop while in Track Mode, which means a driver "may not know how fast the vehicle is traveling without the mph or km/h unit display, increasing the risk of a crash," according to the National Highway Traffic Safety Administration.
Tesla recalled more than half a million vehicles earlier this year to turn off a "Boombox" feature, which allows drivers to play sounds outside their vehicles but runs astray of federally mandated rules that say electric vehicles must emit a warning noise at low speeds.
A Tesla Model 3 is seen in a showroom in Los Angeles, California U.S. January 12, 2018. (Reuters / Reuters)
CLICK HERE TO GET THE FOX BUSINESS APP
Tesla CEO Elon Musk took a jab at the NHTSA after the boombox recall, saying that the "fun police made us do it."
Reuters contributed to this report.