Video of Model S on fire takes down Tesla stock

[KoKo]

Video of Model S on fire takes down Tesla stock
October 2, 2013, 4:27 PM

#t=0

Tesla Motors Inc. TSLA shares tanked after a video of a Model S on fire circulated on the web, prompting the electric car company to move quickly to douse the flames of bad publicity.

Elizabeth Jarvis-Shean, director of global communications at Tesla, confirmed that the vehicle engulfed in flames was indeed a Tesla but stressed that the driver walked away without injuries.

Here is the company’s statement:

Yesterday, a Model S collided with a large metallic object in the middle of the road, causing significant damage to the vehicle. 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.

Shares of Tesla, already in retreat following a downgrade at Baird, extended losses, at one point slumping over 9%. Tesla’s stock closed down 6.2% to $180.95.

[benld74]

1. Collided with a large metal object in the middle of the road? What was it??

[HappyMe]

5. lol! Really?

The only stock I have is beef stock inb my fridge.

[Egnever]

2. Temporary market over reaction

Awesome vehicles, they will be fine.

[AnotherMcIntosh]

4. It could have been worse. Reportedly, Toyota is planning to sell a $50,000 hydrogen car in U.S.

[Javaman]

6. or could this all be pushed by auto makers who are freaking out over Tesla

wanting sell directly to the public.

Take one incident that was, (I might add, properly handled by the cars on board computer to allow the driver to get away safely) and blow it up into a "youtube sensation" then promote it endlessly as a hair on fire "safety hazard" that ALL TESLAS ARE FIRE TRAPS AHHHHHHH!!!

and you are left with auto makers puffing on their stogies and chuckling to themselves.

[HappyMe]

9. At $62,500 they sure as fuck aren't going to

be selling anything to me.

[Barack_America]

11. Freaked out over the "best ever" safety rating of the Model S. nt

[Barack_America]

7. I'll stick with gas. Gas powered cars never burn. Nt

[KamaAina]

10. Except Michael Hastings'.

[krispos42]

15. Flaming Pintos, Batman! I'd forgotten all about that!

[lumberjack_jeff]

8. That would never have happened to a car carrying 20 gallons of gasoline.

[Egalitarian Thug]

12. Oh yeah, the stock absolutely collapsed, all the way down to $174 p/shr.

[Mother Muckraker]

13. Tesla Model S "Safest Car Ever"

The "safest car ever" label was a lie. Tesla was the ones who added ".4" to the 5-star safety rating by the feds giving themselves a "5.4 star". Many cars have received a 5-star safety rating.

The "5.4-star" lie is one of many lies and misinformation by Tesla.

The fire started stemming from a relatively minor impact. This fire is a legitimate safety concern especially since the Model S has only been on sale for less than a year and their numbers on the road are actually very few.

[KoKo]

16. I've wondered about Elon Musk's Rise to Fame. Sounded like "Dot Com Bubble"

to me...although we all root for more energy efficient Cars....and the technology is moving towards that...he always struck me as PROMOTIONAL. Yeah...I know...Good Inventors have always been Promotional...but, still...there has been SO MUCH HYPE over THIS GUY....

Well...he may be REAL...and he MAY NOT BE REAL. Just saying.

[uponit7771]

14. "All indications are that the fire never entered the interior cabin of the car"

[Orrex]

17. Holy shit! They could have spilled electricity all over the road!

[Auggie]

18. LOL