Tesla Motors Inc (TSLA) Drops On Report Of Another “Autopilot” Crash And Rollover

tesla motorsTyler Durden:  Last week, Tesla Motors Inc (NASDAQ:TSLA) stock tumbled after it was belatedly revealed that a driver had been killed while his 2015 Model S, which had been in self-driving mode, failed to notice a turning truck and crashed into it head on, killing the driver (who may have been watching a Harry Potter DVD at the time).

This led to bizarre developments: Fortune Magazine published a story in which it reported that on May 18, eleven days after Brown died, Tesla and CEO Elon Musk, in combination (roughly three parts Tesla, one part Musk), sold more than $2 billion of Tesla stock in a public offering at a price of $215 per share without ever having released a word about the crash.

This promptly led to a mini meltdown on Twitter by none other than Elon Musk, who far from coming off as a visionary genius, instead quickly devolved into a penny-stock hustler, for whom the “market response” is all that matters:

twitter elon musk

Today during the after-hours session, TSLA is once again dipping lower on a report in the Detroit Free Press that a local art gallery owner told police his 2016 Tesla Model X was in Autopilot mode when it crashed and rolled over on the Pennsylvania Turnpike last week.

The crash came just one day after the National Highway Traffic Safety Administration issued a report on a fatal crash in May involving a Tesla that was in self-driving mode.

The good news: both Albert Scaglione and his artist son-in-law, Tim Yanke,  survived Thursday’s crash near the Bedford exit, about 107 miles east of Pittsburgh.

The bad news: this is yet another example of a Tesla crashing in “self-driving” mode.

According to the DFP, Dale Vukovich of the Pennsylvania State Police, who responded to the crash, said Scaglione told him that he had activated the Autopilot feature.

In his crash report Vukovich stated that Scaglione’s car was traveling east, near mile marker 160, about 5 p.m. when it hit a guard rail “off the right side of the roadway. It than crossed over the eastbound lanes and hit the concrete median.”

After that the Tesla Model X rolled onto its roof and came to rest in the middle east bound lane. A 2013 Infiniti G37 driven in the westbound lane by Thomas Hess of West Chester, Pa., was struck by debris from the Scaglione car, but neither he nor his passenger were hurt.

Vukovich said he likely will cite Scaglione after he completes his investigation, but he declined to specify the charge. To be sure there is always the possibility that the driver is scapegoating the car for a human error, which can be quickly confirmed or denied.

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