Tesla reports 2 new crash fatalities in Model 3 cars

Yahoo Finance's Pras Subramanian breaks down the latest news surrounding Tesla crashes and deliveries.

Video transcript

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AKIKO FUJITA: Let's turn our attention now to Tesla. The EV giant is facing two new crash fatalities in its Model 3 cars, involving its driver assistance systems. Let's bring in Yahoo! Finance's Pras Subramanian, who is on top of that. Pras, what do we in terms of the incidents around these crashes?

PRAS SUBRAMANIAN: So yeah, Akiko, in the last two months, two new crashes, like you mentioned, with that Model 3-- fatal crashes involving cars using the autonomous software that Tesla has. You know, this has been a situation where the NHTSA's require this disclosure since 2021, kind of following these incidents that happened with these cars that have autonomous driving features.

Another thing to keep in mind, is that this is separate than the other NHTSA investigation that's going on with cars crashing-- Tesla cars crashing into cars that are at the scene of accidents. So this is two different things going on here.

This, as Tesla is actually rolling out another update to its FSD, Full Self-Driving, update here. That's a bigger update, a wider update for more users, as this is happening, as we're seeing more and more crashes as well.

AKIKO FUJITA: Over in China we've got Tesla's Model 3 and Model Y cars getting an update, at least on the delivery waiting times. What does that look like there?

PRAS SUBRAMANIAN: Yeah, so you know, we saw Tesla cut prices in China, kind of pulling some demand levers there as there's maybe concern there that people aren't buying as many cars as before. So Reuters is reporting that the Shanghai plant is even more productive putting out more and more cars. So now we're seeing wait times come down as well as pricing.

So the question is, is that kind of showing more of a demand problem in China? Or is it actually a good thing that customers are able to get these cars in a short amount of time? One thing is for sure, maybe it's possible that Tesla can ship some of these China-made cars to Europe, where there's much longer wait times there for their customers.

AKIKO FUJITA: OK. Something to watch there. Pras Subramanian, thanks so much for that.