Unexpected fires rank among the topmost fears of any automaker, and Mercedes-Benz is dealing with plenty of them.
After reports of 51 fires in late-model vehicles, 30 of them in the U.S., the German luxury automaker will recall roughly one million vehicles worldwide to prevent an electrical fault from causing even more. (Read More…)
After photos were published of a Tesla Model S in Washington state burning following a collision, with a subsequent 9.1% dip in the price of Tesla stock, the company issued a statement. The car, “collided with a large metallic object in the middle of the road, causing significant damage to the vehicle,” the EV startup said. For the day, Tesla shares fell 6.2 percent, or $12.05, to close at $180.95 in New York trading on Wednesday. The decline was biggest one day drop in Tesla’s stock price since July 16. Analysts attributed the steep decline on their opinion that the stock was already overvalued, making it susceptible to any bad news.