DETROIT, Oct 3 (Reuters) – A video that went viral of a
burning Tesla electric car has emerged as a public relations
nightmare for the company, analysts said Thursday, as the “green
car” maker lost as much as $3 billion in market value two days
after the incident in Washington state.
Tesla Motors Inc has confirmed that the car caught
fire after the driver ran over a large metallic object on
Tuesday morning just south of Seattle, causing extensive damage
to the front end of the Model S sedan. Emergency officials at
the accident said the fire occurred in the electric vehicle’s
DETROIT (Reuters) – Tesla Motors Inc’s (TSLA.O: Quote, Profile, Research, Stock Buzz) stock price took another hit on Thursday following a battery fire in its flagship Model S sedan in Washington state this week as analysts said sales of the electric vehicle would likely suffer.
The shares fell 5.7 percent to $170.70 in afternoon trading following a decline of more than 6 percent on Wednesday, at one point knocking almost $3 billion from the company’s market value. Images and a video of the burning car were posted online after the accident and fire on Tuesday morning just south of Seattle.
DETROIT, Oct 3 (Reuters) – Tesla Motors Co’s stock
price took another hit on Thursday and its sales were likely to
suffer following a battery fire in its flagship Model S sedan in
Washington state this week, analysts said.
Tesla’s shares fell 6.4 in early trading, following a more
than 6 percent decline on Wednesday after images and a video of
the burning car were posted online. The accident and fire
occurred Tuesday morning just south of Seattle.
Oct 2 (Reuters) – In Wall Street’s retelling of the biblical
Book of Samuel, General Motors Co is Goliath and electric
car maker Tesla Motors Inc is David, the would-be giant
Tesla’s market value has soared 470 percent this year to $23
billion, while GM has risen a relatively modest 25 percent to
$50 billion. At this pace, if the bubble doesn’t burst,
10-year-old Tesla could eclipse 105-year-old GM next year.
NEW YORK (Reuters) – General Motors Co (GM.N: Quote, Profile, Research, Stock Buzz) will wait until its next round of labor talks in 2015 before negotiating with the United Auto Workers about the automaker’s U.S. blue-collar pension obligation, GM’s vice chairman said on Friday.
GM’s pension obligation to UAW-represented workers in the United States was $71 billion at the end of 2011, the last time the Detroit company detailed its blue-collar pension obligation. That exceeds GM’s current market value by about $20 billion.