On September 4, Tesla Motors declined 3.83% in regular trading, trading at $362.35/share with turnover of $1.398 billion, giving back the majority of the prior session's 5.42% rally triggered by the Cybercab launch event.

The pullback was driven by a federal safety probe. The U.S. National Highway Traffic Safety Administration (NHTSA) announced an investigation into approximately 1,000 Tesla Cybercabs, focusing on the certification process and technical data Tesla relied upon to claim compliance with federal vehicle safety standards. NHTSA noted that the Cybercab lacks permanently attached conventional manual controls — including a steering wheel, brake pedal, gas pedal, and mirrors — all of which are typically required under federal safety regulations. The review will also examine whether Tesla independently determined that certain federal motor vehicle safety standards do not apply to the Cybercab.

Adding to the pressure, market participants expressed disappointment over limited incremental details from the September 3 Cybercab launch in Austin. While Tesla disclosed that its Robotaxi fleet surpassed one million miles of unsupervised autonomous driving, actual deployment remains modest — only 45 Cybercabs have been registered in Texas according to state filings, well below the 25–50 vehicle threshold analysts had flagged as necessary for a positive stock reaction.

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