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

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.

  • Gloomfrost

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

  • 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!

  • smartacus

    i thought this was the safest car in the world!

  • Robby G

    HAHAHA.. so true.

  • http://Qhub.com/ Robert Millar

    And high-fives were heard at Volvo HQ.

  • Richard Joash Tan

    bullshit.

  • Richard Joash Tan

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

  • Joe Kaminski

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

  • Felix Haus

    Do cars with NO gasoline in them burn every day?

  • 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.

  • tsport100

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

  • 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.

  • 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.

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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!!!!!!

  • 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

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6. ODDS OF WINNING: Odds of winning a prize are determined by the total number of eligible entries received.

7. RESTRICTIONS: The prize package consists of one (1) Amazon.com Gift Card with an approximate value of $100.00 USD. If prize cannot be awarded due to circumstances beyond the control of the Sponsor or Prize Supplier, no substitute prize will be awarded due to the unique nature of the prize. Sponsor and Prize Supplier shall not be liable to the winner or any person claiming through winner for failure to supply the prize or any part thereof, by reason of any acts of God, any action(s), regulation(s), order(s) or request(s) by any governmental or quasi-governmental entity (whether or not the action(s), regulations(s), order(s) or request(s) prove(s) to be invalid), equipment failure, utility failure, internet failure, terrorist acts, threatened terrorist acts, air raid, blackout, act of public enemy, earthquake, war (declared or undeclared), fire, flood, epidemic, explosion, unusually severe weather, hurricane, embargo, labor dispute or strike (whether legal or illegal) labor or material shortage, transportation interruption of any kind, work slow-down, civil disturbance, insurrection, riot, or any other cause beyond Sponsor's or Prize Supplier's control (collectively, "Force Majeure Event"). Sponsor shall not be responsible for any cancellations, delays, diversions or substitutions or any act or omissions whatsoever by the performers/events, other transportation companies or any other persons providing any of these services and accommodations to passengers including any results thereof such as changes in services or accommodations necessitated by same.

8. CONDITIONS: By entering the Sweepstakes, entrants agree to be bound by the Official Rules, Terms and Conditions and that Sponsor has the irrevocable right to use in perpetuity entrants' names, user names, likenesses, photographs, voices, home mailing address, biographical and prize information, and entry materials, without notice to entrants and without compensation or obligation, in any and all media now or hereafter known throughout the world, in any manner whatsoever, to advertise and promote Sponsor, its products and services, the Sweepstakes, and for any other purpose except where prohibited by law. Entrant waives the right to assert as a cost of winning a prize any and all costs of verification and redemption or travel to redeem said prize and any liability which might arise from redeeming or seeking to redeem said prize. Sponsor is not responsible for fraudulent calls or emails made to entrants not by the Sponsor. If the Sweepstakes is not capable of running as planned by reason of damage by computer viruses, worms or bugs, tampering, unauthorized intervention, fraud, technical limitations or failures, any Force Majeure Event or any other cause which, in the sole opinion of Sponsor, could corrupt, compromise, undermine or otherwise affect the administration, security, fairness, integrity, viability or proper conduct of the Sweepstakes, Sponsor reserves the right, in its sole and absolute discretion, to cancel, terminate, modify or suspend all or any part of the Sweepstakes, and to select a winner from among all eligible entries received by Sponsor up until the time of such cancellation, termination, modification or suspension, as applicable. Sponsor reserves the right in its sole discretion to disqualify any individual that (i) tampers or attempts to tamper with the entry process or the operations of this Sweepstakes in any manner, (ii) violates the Official Rules, Terms and Conditions or (iii) acts in an unsportsmanlike or disruptive manner, or with intent to annoy, abuse, threaten or harass any other person. CAUTION: ANY ATTEMPT BY AN ENTRANT OR ANY OTHER INDIVIDUAL TO DELIBERATELY DAMAGE OR UNDERMINE THE LEGITIMATE OPERATION OF THIS SWEEPSTAKES IS A VIOLATION OF CRIMINAL AND CIVIL LAWS. SHOULD SUCH AN ATTEMPT BE MADE, SPONSOR RESERVES THE RIGHT TO SEEK CIVIL AND/OR CRIMINAL PROSECUTION AND/OR DAMAGES FROM ANY SUCH PERSON TO THE FULLEST EXTENT PERMITTED BY LAW. Any expenses and receipt and use of the prize and federal, state and local taxes and fees applicable in connection with the prize awarded are the sole responsibility of the winner. An IRS Form 1099 will be issued in the name of the winner for the actual value of the prize received. This Sweepstakes is subject to all federal, state and local laws of the United States. VOID WHERE PROHIBITED. Sponsor, Prize Supplier, and their respective officers, directors, parent companies, affiliates, subsidiaries and advertising and promotion agencies, employees, representatives and agents are not responsible for and shall not be liable for (i) any injuries, losses or damages of any kind caused by a prize resulting from acceptance, possession or usage of the prize, or (ii) printing, distribution or production errors. Sponsor or its affiliates may rescind any promotion found to contain such errors without liability at its or their sole discretion.

9. SPONSOR: The Sponsor of this contest is VerticalScope Inc. (the owner and operator of AutoGuide.com), 111 Peter Street, Suite 700, Toronto, Ontario, M5V 2H1.

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