Rich, Woke And Un-Repaired
January 26, 2023: Rich, Woke and Un-Repaired
There was a really interesting piece in the paper. It was about Tesla stock price. But it went deeper in terms of what it means to own a Tesla.
Here’s a snippet:
Tesla has made sure its vehicles are more than just a mode of transportation. They’re part of the owner’s identity.
But accidents happen. And for whatever reason it takes an exceptionally long time to get Teslas repaired after a wreck. Usually four or five months.
If the vehicle can’t be driven, the owner usually gets a rental car. If it can be driven, the owner spends four or five months driving around making exactly the opposite impression they wanted to make when they bought the vehicle.
It’s hard to send the message that you’re rich, woke and operating at full-capacity if you have significant un-repaired property damage on the side of your car. It’s a little bit like going into a meeting with a big marinara stain on the front of your shirt.
This doesn’t make a very good impression:
When your vehicle gets damaged in Washington you’re entitled to the cost of repair, diminished value and loss of use.
A really interesting question is whether the owner of a wrecked vehicle is entitled to compensation for what they’ve lost even though they’re still able to drive the vehicle.
After all, it wasn’t purchased just to get from point A to point B.
And even if you’re insensitive to the desire to look rich and woke, it’s hard to ignore market forces….
Imagine you’re at the airport. You’ve collected your baggage and you get to the car rental counter. The agent says that there are two Teslas available. Same model. Same color. Same mileage. One is in great condition. The other one has some nasty damage to the fender but drives just fine.
Which one are you going to select?
How much less are you willing to pay for the one that has the nasty cosmetic damage?
This “stigma” issue hasn’t been litigated. But—with huge delays because of the supply chain and other factors—a lot of people are driving around embarrassed in their buckled cars.
It seems like the right time to make sure this cost is properly allocated (to the person who caused the wreck).