Tesla Model S Catches Fire, Video Spurs Drop in Stock Value

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Tesla Model S Catches Fire, Video Spurs Drop in Stock Value
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A video of a Tesla Model S engulfed in flames surfaced on the Internet today, prompting the American automaker’s stock value to take a tumble.

At one point, Tesla’s stock dropped over 9 percent but closed at the day down 6.2 percent at $180.95. The American automaker acted quickly to release a statement on the Model S on fire, confirming that it occurred after the sedan was involved in an accident with a “large metallic object.”

SEE ALSO: Tesla Model S Unintended Acceleration Complaint Filed

“Yesterday, a Model S collided with a large metallic object in the middle of the road, causing significant damage to the vehicle,” said Elizabeth Jarvis-Shean, director of global communications at Tesla. “The car’s alert system signaled a problem and instructed the driver to pull over safely, which he did. No one was injured, and the sole occupant had sufficient time to exit the vehicle safely and call the authorities. Subsequently, a fire caused by the substantial damage sustained during the collision was contained to the front of the vehicle thanks to the design and construction of the vehicle and battery pack. All indications are that the fire never entered the interior cabin of the car. It was extinguished on-site by the fire department.”

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GALLERY: Tesla Model S

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[Source: Market Watch]

Discuss this story at Tesla-Buzz.com

  • Red Ride

    Can’t help, however their quick accepting that it did happen and statements will make it better as well as what happens after. If I was the CEO I would deliver a new one out to the owner now. and find out what happened after.

  • smartacus

    i thought this was the safest car in the world!

  • http://Qhub.com/ Robert Millar

    And high-fives were heard at Volvo HQ.

  • Joe Kaminski

    Big deal. Cars burn every day. It’s what Tesla does with any information they learn from the accident that is important.

  • tsport100

    A car catches fire every 3.5 minutes in the US alone. Automobile fires account for 10% of all fires.

  • Robby G

    HAHAHA.. so true.

  • Felix Haus

    Do cars with NO gasoline in them burn every day?

  • Richard Joash Tan

    bullshit.

  • trigger46

    Wow, if this had been any other car it would have totally burned the entire car. Gasoline is not exactly a fire retardant, partners…

  • chavitz

    Tesla are junk cars, period. What Tesla has been doing is hiring a bunch of online PR opinion cheerleaders to cheer up the junk in any possible way.

  • EMartin

    On what are you basing this statement? Have you ever owned, driven or even sat in one? I’ve spoken to people who actually own them, and they love them.
    Not to mention it has won dozens of awards in several countries.

  • chavitz

    Oh, you hasn’t own one yet while cheering up Tesla? Tesla is a joke of Walstreet and its CEO Elon will be prosecuted in stock fraud in the same as Eron’s Skling

  • EMartin

    First off, nice Engrish there buddy…
    Second, I said nothing of their stock, I would agree that it is highly over valued right now, but that says nothing of their product. If I could afford a luxury car, I would buy a Model S; it’s a fantastic car.

  • Gloomfrost

    Are you saying if I crash my car into a ‘metallic object’ I am entitled to a new one?

  • chavitz

    Thanks for reminding my English. I just edited. You also need polish yours too, buddy. Frankly speaking, buying a Model S is financially way more than just affording a luxury car. So quite obviously, Tesla has really nothing to do with you, man.

  • Joe Kaminski

    Umm, considering most car fires are electrical in nature I’m failing to see your point. Other than maybe you’re ignorant to the fact that gasoline isn’t the only flammable compound in a typical automobile.

  • Joe Kaminski

    Not only should you be entitled to a new one, they should pay off any loan you had on the crashed one too!

  • http://www.facebook.com/richardjoash Richard Joash Tan

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IWTH TESLA!!!!!!AND YOU ARE A BULLSHIT BECAUSE I AM BIASED IWTH TESLA!!!!!!AND YOU ARE A BULLSHIT BECAUSE I AM BIASED IWTH TESLA!!!!!!AND YOU ARE A BULLSHIT BECAUSE I AM BIASED IWTH TESLA!!!!!!AND YOU ARE A BULLSHIT BECAUSE I AM BIASED IWTH TESLA!!!!!!AND YOU ARE A BULLSHIT BECAUSE I AM BIASED IWTH TESLA!!!!!!AND YOU ARE A BULLSHIT BECAUSE I AM BIASED IWTH TESLA!!!!!!AND YOU ARE A BULLSHIT BECAUSE I AM BIASED IWTH TESLA!!!!!!AND YOU ARE A BULLSHIT BECAUSE I AM BIASED IWTH TESLA!!!!!!AND YOU ARE A BULLSHIT BECAUSE I AM BIASED IWTH TESLA!!!!!!AND YOU ARE A BULLSHIT BECAUSE I AM BIASED IWTH TESLA!!!!!!AND YOU ARE A BULLSHIT BECAUSE I AM BIASED IWTH TESLA!!!!!!AND YOU ARE A BULLSHIT BECAUSE I AM BIASED IWTH TESLA!!!!!!AND YOU ARE A BULLSHIT BECAUSE I AM BIASED IWTH TESLA!!!!!!AND YOU ARE A BULLSHIT BECAUSE I AM BIASED IWTH TESLA!!!!!!AND YOU ARE A BULLSHIT BECAUSE I AM BIASED IWTH TESLA!!!!!!AND YOU ARE A BULLSHIT BECAUSE I AM BIASED IWTH TESLA!!!!!!AND YOU ARE A BULLSHIT BECAUSE I AM 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  • Richard Joash Tan

    AND YOU ARE A BULLSHIT!!!!!!!

  • Billy Pate

    Electric cars SUCK!, cars that run 440 + volts that run through them runs over scrap on the road and boom, fire it’s amazing you don’t get electrocuted too