Tesla's month has been marked by a significant drop in stock value, declining sales in key markets, and increased vandalism against its vehicles. The brand's insurance costs have also surged, as the average cost to insure a Tesla Model 3 is notably higher than the national average. Analysts suggest that the growing security concerns and higher repair costs, attributed to specialized parts for EVs, contribute to the inflation of insurance prices. Meanwhile, Tesla's own insurance venture has faced its own challenges in addressing these rising costs.
Tesla shares experienced a drastic decline after a peak post-2024 election, facing significant challenges in sales and increasing vandalism incidents.
The costs to insure Tesla vehicles are rising, with the Model 3 averaging $3,495 per year, much higher than the national average, partly due to repair complexities.
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