Tesla rolled back the latest version of its autonomous driving software, called full self driving, or FSD. It’s a setback for Tesla. The decision will lead to questions about how Tesla introduces new features. It could also lead to some stock market volatility on Monday.

On Sunday, Tesla (ticker: TSLA) CEO Elon Musk tweeted about the decision to roll back version 10.3 of the company’s FSD software. “Seeing some issues with 10.3, so rolling back to 10.2 temporarily,” reads the tweet, adding. “this is to be expected with beta software.”

Tesla wasn’t available to comment on the decision Sunday afternoon.

Testing beta software on roads is the part of the company’s self driving program that might raise eyebrows with U.S. safety regulators. Drivers, and regulators, aren’t used to testing out new features on cars already bought. But Tesla has the ability to update features with over-the-air software updates.

The National Highway Traffic Safety Administration wasn’t available for comment Sunday afternoon.

Tesla believes its new features make cars safer. What’s more, it makes drivers qualify for new features by demonstrating safe driving. Still, releasing and then withdrawing the release a day or two later isn’t the outcome Tesla hoped for.

Tesla’s FSD is a so-called level 2 autonomous driving system. That means it requires drivers to stay engaged at all times. The updated software, essentially, adds new self driving features — like left turns across traffic. None of the updates allow drivers to stop paying attention.

Tesla owners who have qualified for the newer versions also reported Sunday that the rollback has removed versions 10 to 10.2 of the new FSD software. That wasn’t part of the Musk tweet and might have been unintended. Or, perhaps, drivers need to request the latest version of FSD software again.

The FSD hiccup might sap some of the recent strength from Tesla stock. Shares are up about 40% over the past three months. Shares hit a new 52-week high and closed at an all time-high above $909 a share Friday. Better than expected vehicle deliveries reported in early October and better than expected earnings reported this past week have boosted the stock.

Selling more cars is the biggest reason for recent gains. Self-driving software has the potential to add value to Tesla’s stock down the road. Tesla sells FSD as a $10,000 feature or as a monthly subscription today. Better versions of software with more features will mean more software sales for Tesla down the road.

Shares are now up about 29% year to date, better than the 21% and 17% comparable, respective returns of the S&P 500 and Dow Jones Industrial Average.

Source: MarketWatch

Toyota has once again topped the Interbrand’s Best Global Brands for 2021, which lists the most valuable brands in the world. This is the third consecutive year for the Japanese automaker to top the list.
Toyota claimed the top spot (among automakers) while placed at 7th position overall, with its brand value increasing by 5% year-on-year. Mercedes-Benz secured the second spot and 8th overall, with its brand value rising by 3%, while BMW again grabbed third position and 12th overall, with its value rising by 5%.
Among other automakers, Tesla was at 4th, Honda at 5th, Hyundai at 6th, Audi at 7th, Volkswagen at 8th, Ford in 9th and Porsche at the 10th position. Most interesting one among the Top 10 automotive brands is Tesla, which jumps from sixth to the fourth spot with an increase of 184% in value after having only re-entered the list a year before.

1. Toyota – $54,107 million
2. Mercedes-Benz – $50,866 million
3. BMW – $41,631 million
4. Tesla – $36,270 million
5. Honda – $21,315 million
6. Hyundai – $15,168 million
7. Audi – $14,474 million
8. Volkswagen – $13,423 million
9. Ford – $12,861 million
10. Porsche – $11,739 million
The Interbrand’s rankings are based on three key components that contribute to a brand’s cumulative value: the financial performance of the branded products and services; the role the brand plays in influencing customer choice; and the strength the brand has to command a premium price or secure earnings for the company.
Brands included in this list must meet several conditions, including having a significant presence in Asia, Europe, and North America, as well as geographic coverage in emerging markets. Additionally, at least 30% of revenue must come from outside of the brand’s home region, and there must be sufficient publicly available data on the brand’s financial performance. The economic profit must also be expected to be positive over the longer term, delivering a return above the brand’s cost of capital. Lastly, the brand must have a public profile and awareness across the major economies of the world.

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Volvo is recalling another 306,782 older models globally in the U.S. for potentially defective driver-side airbags after a rupture incident resulted in a death.

The recall affects certain V70 and XC70 vehicles from the 2001 to 2007 model years.

The latest recall comes after Volvo this month said it was recalling more than 460,000 older models globally for potentially defective driver-side airbags that have been linked to the one death. The affected vehicles in the early October recall are the S80 sedan from the 2001-06 model years and the S60 sedan from the 2001-09 model years.

With the expanded scope, Volvo said the total number of vehicles being recalled globally is 767,551.

"We are continuing to perform extensive investigations to determine whether other cars might be at risk," Volvo spokesman Thomas McIntyre Schultz said in a statement to Automotive News. "The issue only affects cars from a previous product generation. No cars in our current lineup are affected by this."

In both recalls, the inflator manufacturer is German auto supplier ZF Friedrichshafen. Autoliv is the airbag assembly manufacturer.

Driver-side airbag inflators in vehicles affected by both recalls may explode during deployment, increasing the risk of sharp metal fragments striking the driver or other vehicle occupants and resulting in injury or death, according to a safety recall report submitted to NHTSA.

The airbags contain a propellant that can degrade over time after long-term exposure to high temperatures and humidity.

Airbag inflators "exposed to critical environments — hot and humid — frequently during its lifetime are at highest risk," according to the NHTSA document.

Volvo said its investigations show that there is a low likelihood of the issue happening.

The defect appears similar to that found in airbags made for many years by the former Takata Corp., which resulted in the largest recall in automotive history. Volvo's recall is not part of the ongoing NHTSA investigation.

Volvo will replace the driver-side airbags in the affected vehicles with a more modern propellant and inflator.

Dealers were notified starting Oct. 14. Vehicle owners will be notified starting Dec. 14.

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