Tesla Motors shares dropped after reports of a second fiery crash involving the company’s Model S electric car.
On Oct. 17 in Merida, Mexico, a Model S sped into a roundabout, crashed through a concrete wall and hit a tree. The driver fled the scene before the car went up in flames. The U.S. automotive Web site Jalopnik reported the story Monday, citing the Mexican newspaper Progreso Hoy.
Tesla responded that the Model S protected the driver despite the severe crash, and said the driver is buying another Model S.
It was the second time this month that a Model S was in a fiery crash. On Oct. 2, a Model S burned after hitting road debris in Kent, Wash.
Tesla shares fell 4 percent to close at $162.86.
Was this article valuable?
Here are more articles you may enjoy.
Supplemental Claims Don’t Need to Include Damage Estimates, Fed Appeals Court Says 
EVs Head for Junkyard as Mechanic Shortage Inflates Repair Costs 
Poll: Consumers OK with AI in P/C Insurance, but Not So Much for Claims and Underwriting 
SC High Court Strikes ‘Troubling’ Denial of Comp Claim, Says Can’t Be Based on Stats 
Want to stay up to date?
Get the latest insurance news
sent straight to your inbox.