Hertz To Purchase 100,000 Teslas by End of 2022

[Blur1t]

I have an offer on my 2017 X 100D with 51k miles on it.. for more than I paid for it... now if only I could get an ETA on my R1T I could sell it...

Wow that’s awesome! That’s what has me looking new volvo C 40 for the wife, both are extremely safe vehicles!

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[bd5400]

I wonder what the daily rental rate will be. The Model 3 is very popular on Turo and if Hertz is going to start renting them out widely, especially with them available at airport locations, I could see that driving down rental costs, as well as bookings, on Turo.

There seems to be a fair number of people who have bought Teslas specifically to rent them out on Turo because the frequent bookings and high rates, combined with low maintenance, made it profitable. Those days could be numbered with additional competition.

 

[MIG]

Tesla stock skyrocketed after this news today

Pretty much all EV is up today, Nio, Lucid, even that dog Fisker.

 

[Temerarius]

Pretty much all EV is up today, Nio, Lucid, even that dog Fisker.

Including charging networks, and battery makers/suppliers. Most all of them are up 8%-15%.

 

[jjswan33]

Tesla's market cap temporarily surpassed $1TRILLION.. It's now down to $996Billion.. But man this was a massive deal.

Times are a changin'

P/E of >500... that is insanity..

 

[jwardell]

This is huge news. And win-win for everyone.
The car rental companies have been desperate for cars. It's next to impossible to find a car to rent, and the prices are astronomical because of lack of supply. They are losing a ton of business because the manufacturers can't make them cars.
Except for one manufacturer that is pumping out cars in record numbers.

Furthermore this is a boon for the Hertz fleet. They will always know where their cars are and what they are doing. You know they love slapping fees on top of tolls, now they will be able to slap charges on your charges! All extra profit. And plenty of potential extra features if Tesla were to customize the software a bit for Hertz.

And from the consumer side, car rentals are miserable, this is going to seriously add joy to your vacation. Instead of dealing with an underpowered POS plasticky underpowered rollerskate that makes every mile of your trip a bit more miserable, now you can actually have a car with some pep. Not to mention replacing those two giant key fobs chained together with a card that fits in your wallet!

I'm willing to bet most of these will be produced and delivered after Tesla gets Austin model Y production up and running, freeing up Freemont to pump out more 3s.

 

[Peter del Rio]

They articles I saw with that reference were quoting Bloomberg. For whatever reason they don't seem to paint Rivian in a positive light.

Because Rivian has produced less than 100 vehicles and is looking more like vaporware, as Elon Musk points out, “Prototype production is easy, but high-volume production is hard.”

 

[DucRider]

Because Rivian has produced less than 100 vehicles and is looking more like vaporware, as Elon Musk points out, “Prototype production is easy, but high-volume production is hard.”

Because they haven't gone into high volume production, they 100,000 Amazon van order doesn't count?
Not sure what you are trying to say here. Bloomberg has consistently been much more negative about Rivian than (even ignoring facts when convenient for them). They criticized the R1T for not being something it was never intended to be. Their review would be the same as knocking the Model X for not being able to haul sheets of plywood (true but irrelevant to the intended purpose of the vehicle). Being skeptical of the long term success is certainly a position they could take - but rather hard to defend given the backing and resources Rivian has. Being critical of the rumored IPO valuation is on par with defending the current TSLA valuation - both are more speculative than production/profit alone would justify.

 

[Scott]

My one concern with this is privacy: Tesla's record everything you do. The rental car companies now have access to all of that data. It is great for them if they want to find out where that door ding came from that they want to charge people for, but do customers really want Hertz seeing that much about them?

Solvable problems for sure, but a different world

 

[jjwolf120]

Because Rivian has produced less than 100 vehicles and is looking more like vaporware

And the Cybertruck, Rodster and semi also qualify as vaporware by this definition.

 

[DaveA]

Pretty much all EV is up today, Nio, Lucid, even that dog Fisker.

Say what you will about Fisker, but at this rate I'll have the Ocean in my possession before my R1T. They are going with Magna to build the Ocean, so won't be any "we built 2 trucks today" situations.

 

[DucRider]

Say what you will about Fisker, but at this rate I'll have the Ocean in my possession before my R1T. They are going with Magna to build the Ocean, so won't be any "we built 2 trucks today" situations.

You really think they will instantly start the line at 100+ per day production?
Or will they do test builds and ramp up like every other manufacturer.

I threw a few bucks at Fisker stock, but thinking that production is an on/off switch will lead to disappointment (as we've seen here)

 

[DaveA]

You really think they will instantly start the line at 100+ per day production?
Or will they do test builds and ramp up like every other manufacturer.

Never said that...but since Magna is a seasoned manufacturer of BMW, Mercedes, Supra, etc...feel they'll have a better output at the start.

 

[TessP100D]

Tesla stock skyrocketed after this news today

And Hertz is running commercials with The GOAT

 

[TessP100D]

They emerged from bankrupcy.
They (like all rental car companies) are struggling to rebuild their fleet. No matter what they buy it will require funds. I think it is a smart move as it differentiates them from the competition. The Model 3 is also the most popular car in the most searched category (electric) on Turo.

I suspect the delivery timing being pushed out on the Model 3 is due in part to this order (I doubt that it came as a surprise to Tesla - they have likely been in negotiations for a bit).

I would absolutely choose Hertz/Tesla when renting. Been using Turo to rent elecric on trips for a while (which has pluses and minuses).

I would love to see Model 3’s for rent in Maui too.

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