Tesla recalls 53,000 Model S and Model X cars for parking brake issue

Analyst: Here's why Tesla recall is a non-event

Tesla is voluntarily recalling 53,000 Model S and Model X vehicles over a potential issue that could prevent the parking brake from releasing.

The company issued an update Thursday saying electric parking brakes installed on Model S and Model X vehicles built between February and October 2016 "may contain a small gear that could have been manufactured improperly by our third-party supplier."

Shares dropped just over 1 percent on the news.

"We do not believe this issue could ever lead to a safety concern for our customers, and we have not seen a single accident or injury relating to it," said Tesla on its website Thursday. "However, in order to be overly cautious, we are going to be proactively replacing these parts to ensure that no issues arise."

If the gear were to break, the brake would remain engaged, but the parking brake would also be stuck in place.

Tesla estimates that only 5 percent of the cars it is recalling will be affected and that the replacement will take about 45 minutes.

The company said it would soon send out official recall notices by mail to owners. the copmany will begin replacing parts immediately, and plans to have parts for all affected vehicles by October 2017.