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Another Model S fire, Tesla stock tumbles

Tesla Motors stock has taken a tumble, again, after another report of a fiery crash involving the company’s Model S electric car.

On Oct. 17, a Model S sped into a roundabout in Merida, Mexico and crashed through a concrete wall, according to a report in the Mexican newspaper Progreso Hoy. The car hit a tree, but the driver got out of the car before it burst into flames.

Tesla shares fell four percent Monday to close at $162.86.

According to a statement from Tesla Motors, the Model S protected the driver in the Mexico crash, despite the severe impact.

This is the second recent report of a fire in a Tesla Model S. A driver escaped injury when a Model S caught fire after hitting road debris near Kent on Oct. 2.

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