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| Tesla shares are hit by a fire involving the Model S | Tesla shares are hit by a fire involving the Model S |
| (about 1 hour later) | |
| Electric carmaker Tesla's Model S has suffered its third fire in five weeks. | |
| In the latest incident, which took place on Wednesday in Tennessee in the US, a fire broke out in a car after it hit debris on the road. | In the latest incident, which took place on Wednesday in Tennessee in the US, a fire broke out in a car after it hit debris on the road. |
| Tesla said the fire did not start spontaneously but was the result of the accident. The previous two fires have also been related to accidents. | Tesla said the fire did not start spontaneously but was the result of the accident. The previous two fires have also been related to accidents. |
| The firm's shares fell more than 7% on Thursday, after a 14% fall on Wednesday triggered by weak earnings. | |
| The company reported that it made a net loss of $38m in the July-to-September period. | The company reported that it made a net loss of $38m in the July-to-September period. |
| Analysts said that while the incidents had been the result of accidents, investors had been worried about any potential impact on the firm. | |
| "For a company with a stock price based as much or more on image than financials, those recurring headlines are highly damaging," said Karl Brauer, a senior analyst with Kelley Blue Book. | "For a company with a stock price based as much or more on image than financials, those recurring headlines are highly damaging," said Karl Brauer, a senior analyst with Kelley Blue Book. |
| Adam Jonas, an analyst with Morgan Stanley, added that the risk of a formal investigation by US safety regulators "could raise near-term concerns to a higher level in terms of cost, image and production disruption". | Adam Jonas, an analyst with Morgan Stanley, added that the risk of a formal investigation by US safety regulators "could raise near-term concerns to a higher level in terms of cost, image and production disruption". |
| Tesla's shares fell 7.5% to close at $139.7 on Thursday. | Tesla's shares fell 7.5% to close at $139.7 on Thursday. |
| Other incidents | Other incidents |
| In October, a Model S caught fire after the driver ran over what Tesla said was "an extremely large object". | In October, a Model S caught fire after the driver ran over what Tesla said was "an extremely large object". |
| After the fire, officials at the National Highway Traffic Safety Administration had said they found no evidence to indicate that it resulted from defects or violations of US safety standards | After the fire, officials at the National Highway Traffic Safety Administration had said they found no evidence to indicate that it resulted from defects or violations of US safety standards |
| The second incident took place in Mexico later in the month. According to reports a car caught fire after it drove through a roundabout, crashed through a concrete wall and hit a tree. | The second incident took place in Mexico later in the month. According to reports a car caught fire after it drove through a roundabout, crashed through a concrete wall and hit a tree. |
| Tesla said it is investigating the latest incident in Tennessee to find out what had caused the fire. | |
| "Our team is on its way to Tennessee to learn more about what happened in the accident," Tesla spokeswoman Elizabeth Jarvis-Shean said in a statement. | "Our team is on its way to Tennessee to learn more about what happened in the accident," Tesla spokeswoman Elizabeth Jarvis-Shean said in a statement. |
| "We will provide more information when we're able to do so." | "We will provide more information when we're able to do so." |
| The firm's chief executive, Elon Musk, has previously said that electric cars are safer than conventional cars. |