Tesla under scrutiny after three Model S fire incidents in six weeks
In what was the third fire incident involving electric carmaker Tesla's Model S sedan in the last six weeks, a Model S owned by a Tennessee man caught fire on Wednesday after running over a trailer hitch.
Though none of the three drivers of the Model S sedans involved in fire incidents received any injuries, the occurrence of the incidents in quick succession have apparently delivered a blow to Tesla's image.
The images of blazing Model S sedans are somewhat disquieting, especially since Tesla not only touts the best safety rating in the auto industry, but also takes pride in the accolades - such as `Car of the Year' and `Best Car Ever Tested' - won by its well-liked Model S battery-powered car.
With the three fire incidents taking place within a few weeks of one another, and with some real as well as perceived dangers of fires linked to the car of late, the Tesla stock plunged nearly 26 percent after the reports about the latest fire incident involving Model S.
Despite the fact that fire incidents involving conventional gas-powered cars are much more frequent that those involving electric cars, the newness of Tesla and its mysterious battery technology have brought the company under the scanner after the recent Model S fires.
Noting that dramatic images of a car on fire create a "negative impact," Kelley Blue Book's senior analyst Kyle Brauer said that Tesla is "under the microscope right now."