Posted on Wednesday, November 13th, 2013 at 4:26 pm
Tesla shares were down for a third consecutive day on November 7, closing at $139.91, or 7.4% lower than the day before, following Tesla’s third report of a car catching on fire near Smyrna, Tenn.
The latest fire kept Tesla’s shares from rebounding as investors are wary that the incident has caught the attention of the National Highway Traffic Safety Administration (NHTSA). The organization stated that it will contact the local authorities who are investigating the latest fire incident to determine if there are vehicle safety matters that need the agency’s action.
The latest incident happened on the 7th when a Tesla Model S electric car heading east on Interstate 24 caught fire after running over a tow hitch. The driver was safe after pulling off the road.
Previous crash-related fires involving Tesla electric cars have been reported in Seattle, after a large piece of metal debris pierced the car’s battery shield, and in Mexico, where the car hit a wall in a roundabout.
The consequences associated with using defective vehicles may potentially cause you financial, physical, and emotional harm. If you have been involved in an accident in Lancaster due to a defective product, a lawyer from the Law Office of Bill Pelhan may be able to help you hold its manufacturer accountable. Discuss your options in a free consultation by calling 717-392-6362.