Tesla Inc's electric vehicles are expensive to repair - so much so that the automaker and insurers are addressing the issue in sharply different ways.
Model Y cars are pictured during the opening ceremony of the new Tesla Gigafactory for electric cars in Gruenheide, Germany, March 22, 2022. Patrick Pleul/Pool via REUTERS/File Photoelectric vehicles are expensive to repair - so much so that the automaker and insurers are addressing the issue in sharply different ways.
Insurance carriers, meanwhile, are writing off low-mileage Tesla Model Ys that have been in crashes, and sending them to salvage auctions after deeming many too expensive to repair.call on Wednesday, Musk said premiums from third-party insurance companies "in some cases were unreasonably high" and that the EV maker's insurance arm was putting pressure on those carriers by offering lower rates to Tesla owners.
"It's remarkable how small changes in the design of the bumper providing spare parts needed for collision repair have an enormous effect on the repair cost," he said. "Most accidents are actually small — a broken fender or scratched side of the car."So far, Tesla's reputation for expensive vehicle repairs does not seem to have dampened demand, which Musk says is running well ahead of the company's ability to produce.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Tesla Superchargers: everything you need to knowEverything you need to know about Tesla Supercharging: what it is, where you can find them and how much it costs to charge for Tesla and non-Tesla drivers
Read more »
Elon Musk considers raising up to $3 billion to pay off Twitter debt: WSJTesla Inc. Chief Executive Elon Musk and his team are exploring raising as much as $3 billion to help repay some of the debt incurred in the Twitter Inc.’s...
Read more »
Europe Inc earnings offer market optimists more hopeEarnings from major European companies on Wednesday offered some reasons for optimism about the region's corporate health, even as investors worry about the slowing global economy.
Read more »
HAS Stock Price | Hasbro Inc. Stock Quote (U.S.: Nasdaq) | MarketWatchHAS | Complete Hasbro Inc. stock news by MarketWatch. View real-time stock prices and stock quotes for a full financial overview.
Read more »
Elon Musk: Let's Not Overhype Tesla Cybertruck Start Of ProductionOn Tesla's Q4 2022 and full-year 2022 conference call for shareholders (still occurring as I'm typing this), we received updates on Tesla Cybertruck production and overall Tesla production capacity. Tesla Cybertruck Production Timeline On today's
Read more »
Elon Musk defiantly defends himself in Tesla tweet trialElon Musk has concluded his testimony in a federal trial over a class-action lawsuit that alleges he misled Tesla shareholders with a tweet about an aborted buyout.
Read more »