Teslas are so expensive to repair, insurers are writing them off
Insuranceriers, meanwhile, are writing off low-mileage Tesla Model Ys that have been in crashes, and sending them to salvageDuring Tesla's fourth-quarter earnings 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 thoseMusk also said"we want to minimize the cost of repairing a Tesla if it's in a collision," citing changes to vehicle design...
Of more than 120 Model Ys that were totaled after collisions, then listed at auction in December and early January, the vast majority had fewer than 10,000 miles on the odometer, according to online data from Copart and IAA, the two largest salvage auction houses in the United States.Copart and IAA auction listings note whether the vehicles were involved in front, rear or side collisions, and typically include after-crash photos of each vehicle.
Copart listings in some cases included the names of insurance companies that had bought back crashed vehicles, then listed them at auction. Those companies include State Farm, Geico, Progressive and Farmers. Geico is part of Warren Buffet's Berkshire Hathaway Inc. During Wednesday's earnings call, Chief Financial Officer Zachary Kirkhorn said Tesla Insurance at year-end was generating premiums at an annual rate of $300 million and growing at a quarterly clip of 20% -"faster than the growth in our vehicle business."
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Elon Musk is gung-ho on Tesla sales hitting 2 million in 2023 - AutoblogTesla saw a drop in vehicle gross margins in its fourth-quarter results, showing how the carmaker is having to 'sacrifice margins for volume,' Wedbush' Dan Ives said.
Weiterlesen »
Elon Musk uses Tesla earnings call to brag about how popular he is on Twitter - Autoblog'I've got 127 million followers,' the Tesla CEO said on Wednesday. 'That suggests I'm reasonably popular.'
Weiterlesen »
Elon Musk defiantly defends himself in Tesla tweet trialElon Musk returned to federal court to defend himself against a class-action lawsuit that alleges he misled Tesla shareholders with a tweet about an aborted buyout that the billionaire defiantly insisted Tuesday he could have pulled off, had he wanted.
Weiterlesen »
Elon Musk Teases 'Higher Priced' Ad-Free Twitter Blue SubscriptionTwitter’s new owner Elon Musk recently teased the introduction of a new “higher priced” Twitter Blue subscription that would remove ads from the platform.
Weiterlesen »
Elon Musk admits he didn't have a 'specific number' for funding Tesla buyoutElon Musk admits he didn't have a 'specific number' for how much funding was needed to take Tesla private
Weiterlesen »
Live From House Arrest, It's Anna Delvey Hosting a Dinner Party ShowHer dream guests include Sam Bankman-Fried, Elon Musk, and author Ottessa Moshfegh.
Weiterlesen »