Tesla Model 3 loses Consumer Reports recommendation

Tesla (TSLA) shares fell immediately after the widely respected magazine reported that it is no longer recommending the company's "affordable" mass market sedan.

Shares were down 2%, dipping below the $300 mark. The stock is now down more than 10% this year.

Consumer Reports said that it could no longer recommend the vehicle because Model 3 owners told it had glass defects among other issues.

But Tesla said in a statement to CNN Business that "not only are our cars the safest and best performing vehicles available today, but we take feedback from our customers very seriously and quickly implement improvements any time we hear about issues."

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