Tesla Downgraded by Analysts Following Car Fire

Wyoming Public Media is reporting that after a video of a Tesla Model S fire went viral, analysts have downgraded the electric car company. The YouTube video, which made the rounds a couple of weeks ago, shows the car engulfed in flames, according to NPR.

“The fire Tuesday was caused by a large metallic object that directly hit one of the battery pack’s modules in the pricey Model S,” Tesla spokesperson Liz Jarvis-Shean told the Seattle Times. “The fire was contained to a small section at the front of the vehicle, and no one was injured.”

Still, despite the fire being contained, major damage was done to Tesla’s image. In the days following the incident, a share of Tesla stock was trading for $169.50, which was $25 or 13 percent below its 52-week high of $194.50.

“Tesla kind of gives an insight of…perhaps the kinds of cars that we’re going to be driving in 10 years or 15 years,” said Jake Fisher, head of automotive testing for Consumer Reports. “So if there’s a hole in that, and suddenly we’re finding out that, well, lithium ion battery packs aren’t going to work because there’s a fire hazard with them. That is scary.”

No one gets into their car expecting it to burst into flames or to be a burn injury victim or to suffer a wrongful death, yet it can happen and through no fault of their own. Our national accident attorneys understand this and have been successfully helping the victims of product liability and their families face down those at fault for their pain and suffering for years.

For more information about how we can help you or a loved one if you are suffering because of someone else’s negligence, contact us today at (866) 377-3800 to schedule a free consultation.

[Did You Know?: According to the National Fire Protection Association, there were 187,500 car fires in 2011.]

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