Top new models for SA

From Renault's new Alaskan bakkie to the latest models at the Frankfurt motor show bound for SA.

Electric cars in SA

The debate on whether or not Electric Vehicles (EV) are viable in South Africa rages on.

Tesla shares in US fire sale

2013-11-09 12:49

BURNING ISSUE: Tesla's Model S as it appeared in Wheels24 earlier in 2013. Three have burned and now there's been a shares fire sale. Image: Tesla


Tesla Model S on fire

2013-10-03 14:57

Electric car company Tesla saw its shares drop by 6% on Wednesday after a video of a blazing Model S was posted on the Internet.

Tom Krisher

DETROIT, Michigan - Was it a fire sale? Investors in the Tesla electric car company stemmed the bleeding a bit on Friday but it was still an abysmal few days thanks to a third fire in a Model S and earnings results many found disappointing.

Tesla's shares dropped a total of $37 on Wednesday and Thursday and were down another $7 by noon Friday before recovering to finish with a loss of $1.82; 22-million shares traded Friday, almost double the average daily volume.


In three days Tesla shareholders lost $4.7-billion, nearly 22% of their investment.

Billionaire South African CEO Elon Musk, who held about 28-million shares as of May 30, or nearly 25% of the stock, lost more than $1-billion as Tesla stock plunged from $176.81 at the close Tuesday to $137.95 on Friday.

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