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It Just Keeps Getting Worse For Tesla
Insurance reports unveil major problems at Tesla.
Tesla’s nosedive is already historic. Sure, its stock price might be steadily recovering, but that’s only because of investor anticipation for the Cybercab launch, which, even by Tesla’s own internal analysis, is going to be a complete disaster (read more here). So, expect it to nosedive again soon. Meanwhile, Tesla sales worldwide are crashing, and Musk’s reputation is growing worse by the day as his actions at DOGE and public revelations about his drug use begin to reveal his true colours from underneath the mask. Surely it can’t get any worse for Tesla? Well, it can, and it will. It turns out that Tesla’s own insurance products are losing money, and the reasons why are devastating.
Why does Tesla have its own insurance branch?
Back in the day, Teslas were among the most expensive cars to insure of their kind. They were more expensive and complex in comparison to their combustion rivals and often more powerful. As such, insurance companies assumed repair bills and write-off rates would be higher and that crashes would be more likely, so they hiked the insurance premiums for Teslas. At the time Tesla claimed that insurers didn’t understand their cars, the technology behind them, or how to repair them, which was causing them to overcharge. But…
