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" ... 1) Tesla is underreserved for any major recall. After booking a provision of $175 million for warranty expenses in the third quarter, Tesla's warranty reserve stood at $1.269 billion as of September 3oth. That’s a very small amount compared to Tesla's annual production rate, especially for a company that does not have a dealer network. With China’s State Administration for Market Regulation issuing a recall in October for Models S and X made from 2013 to 2017 due to Tesla's “whompy wheel” suspension issue, and the impact of yesterday's recall, I would expect Tesla to have to provision much more heavily for warranty in its 4Q2020 earnings report. Year-end figures are considered definitive by the SEC (and are audited,) so every public company reflects a degree of conservatism in them with regards to reserves rarely seen in quarterly figures. ... "