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Tesla shares fall on reports of second fiery crash

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#1 Hum

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Posted 28 October 2013 - 22:33

Tesla Motors shares dropped Monday after reports of a second fiery crash involving the company's Model S electric car.

On Oct. 17 in Merida, Mexico, a Model S sped into a roundabout, crashed through a concrete wall and hit a tree. The driver fled the scene before the car went up in flames. The U.S. automotive Web site Jalopnik reported the story Monday, citing the Mexican newspaper Progreso Hoy.

Tesla responded that the Model S protected the driver despite the severe, high-speed crash.

"He is appreciative of the safety and performance of the car and has asked if we can expedite delivery of his next Model S," a Tesla spokeswoman said.

It was the second time this month that a Model S — Tesla's only vehicle on the market right now — was in a fiery crash. On Oct. 2, a Model S burned after hitting road debris in Kent, Wash.

In that case, Tesla CEO Elon Musk said the fire started when a curved metal object punched a 3-inch hole through the armored plate that protects the battery. The car contained the blaze to one section of the battery, and the driver was able to get out before flames engulfed the front of the car.

Musk added that fires are much more common in vehicles with conventional gas engines.

The National Highway Traffic Safety Administration said last week that it doesn't plan to investigate the Oct. 2 incident because there is no indication that it was caused by a safety defect or that the Model S is violating federal safety standards.

The agency doesn't investigate accidents outside the U.S., but does collect information on foreign crashes from automakers or from police in those locations.

Tesla shares fell 4 percent to close at $162.86. They have fallen 16 percent since the Oct. 2 crash.
 
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#2 Growled

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Posted 28 October 2013 - 23:34

 

On Oct. 17 in Merida, Mexico, a Model S sped into a roundabout, crashed through a concrete wall and hit a tree. The driver fled the scene before the car went up in flames. 

 

And because some idiot can't drive the stock market goes crazy? God help us all. What a non-story.



#3 tsupersonic

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Posted 03 November 2013 - 01:04

Sad - just test drove a Model S (P 85), and what a car. I was a little disappointed with the performance though. 



#4 webeagle12

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Posted 03 November 2013 - 01:12

So everytime there is a car crash, auto company shares drop?

 

WTF, must be slow news day...

 

p.s: never mind, I clicked on article, what else you can expect from Yahoo



#5 Enron

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Posted 03 November 2013 - 01:32

Stock market crash



#6 Nashy

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Posted 03 November 2013 - 01:37

And because some idiot can't drive the stock market goes crazy? God help us all. What a non-story.

 

That has nothing to do with it.  The issue is, accidents do happen in cars, often.  And when these ones crash, they go up in flames, where normal cars rarely do in a regular driving accident of this nature.



#7 spenser.d

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Posted 03 November 2013 - 02:29

That has nothing to do with it.  The issue is, accidents do happen in cars, often.  And when these ones crash, they go up in flames, where normal cars rarely do in a regular driving accident of this nature.

 

Actually statistically speaking, gas powered cars go up in flames at quite a bit higher rate than these do. Not to mention both Tesla crashes have kept their drivers much safer than many competitors cars would've in a similar situation fire or not.



#8 Nashy

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Posted 03 November 2013 - 02:50

Actually statistically speaking, gas powered cars go up in flames at quite a bit higher rate than these do. Not to mention both Tesla crashes have kept their drivers much safer than many competitors cars would've in a similar situation fire or not.

 

Didn't one of these burst into flames recently in a very light accident?



#9 Praetor

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Posted 03 November 2013 - 03:12

Didn't one of these burst into flames recently in a very light accident?

 

Article points that accident and no, it wasn't a very light accident.

 

Also i would like to see how many cars burned up this past month because of accidents. Yep, more than Tesla. Was it news? nope.



#10 Bonfire

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Posted 03 November 2013 - 03:16

So, Ford Pinto 2.0?



#11 Nashy

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Posted 03 November 2013 - 03:37

Article points that accident and no, it wasn't a very light accident.

 

Also i would like to see how many cars burned up this past month because of accidents. Yep, more than Tesla. Was it news? nope.

 

Of course there were more than Tesla, what have they sold, 10 of them?



#12 Phantom Helix

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Posted 03 November 2013 - 04:03

So, Ford Pinto 2.0?

 

Panic.In.New.Tesla.Often  lol

 

(Put.In.New.Transmission.Often) old joke made new



#13 Phantom Helix

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Posted 03 November 2013 - 04:06

Of course there were more than Tesla, what have they sold, 10 of them?

 

according to the all knowing internet

 

Since its introduction, cumulative sales reached 12,700 units through June 2013, with most units delivered in the U.S.


#14 OP Hum

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Posted 08 November 2013 - 17:57

Third Tesla Model S fire raises fresh questions, NHTSA query

 

Another Tesla Model S involved in a traffic crash caught fire near Smyrna, Tenn., on Wednesday after an apparent strike by road debris — the third such report in six weeks. As with the previous two cases, the news sparked a reaction from investors, who sent Tesla shares plunging, and Tesla itself, which said no one was injured and that it was investigating the cause.

But this latest incident does raise a troubling comparison for Tesla's 19,000 Model S owners: Even though it has fewer electric cars on the road than its competitors, none have reported similar fires after crashes. And while liquid-fueled vehicles suffer about 170,000 such fires every year, federal data show they take place in only 0.1 percent of all crashes.

"To have one instance of fire from road debris is a fluke," said Clarence Ditlow, director of the Washington-based Center for Auto Safety. "To have two road debris fires in a vehicle population that small is highly unusual."

On Tuesday, Tesla said it had delivered more than 19,000 Model S sedans to date, with demand running well ahead of its ability to build cars. Tesla spokeswoman Liz Jarvis-Shean said the automaker had been in contact with the Tennessee driver of the wrecked Model S "who was not injured and believes the car saved his life.

"Our team is on its way to Tennessee to learn more about what happened in the accident. We will provide more information when we’re able to do so," she said.

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#15 tsupersonic

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Posted 08 November 2013 - 19:13

I love how Tesla is getting special attention for car accident fires. It's not gasoline powered cars CAN'T catch on fire after they get into accident :rolleyes:

 

Now, if they were spontaneously combusting, that would be a problem (tsk tsk Fisker)