You do realize, as outlined in the articles, that Hertz is selling 60,000 used EVs over time, nearly all of them Tesla fleet vehicles. 70% of them are 2023. Hertz is posting 1000 for sale on their website at any time. Starting in January, 2024 Hertz started with 20,000 EVs (which represents 1/3 of their EV fleet) and is walking through selling the inventory. They tried to sell lots of Teslas to other car rental companies with no success. How do you reconcile your claim of only 28K 2023 2022/2023 registrations when a single company, Hertz, has purchase at least 50,000 vehicles of these years (70% of them being 2023). Where does you chart come from -- provide a url link to the source.
I think S&P Global is a pretty reliable source. https://www.spglobal.com/mobility/e...popular-ev-brand-for-us-fleet-companies-.html Source: S&P Global Mobility new vehicle registrations to fleets, July 2022-July 2023 ©2023 S&P Global Mobility
Your chart is merely for U.S. registrations. Hertz operates in over 150 countries. Only a portion of the Tesla's that Hertz purchased were for the U.S. market. Hertz was purchasing 100,000 Teslas across all the countries it operates in. Within the U.S., Hertz is selling 20,000 EVs from it's U.S. fleet (as a start) and also selling EVs in other countries. Teslas make up 80% of Hertz's EV fleet. Bottom line: Flooding the market with discounted used Teslas worldwide is bad news for the company in regards to new sales.
25K Tesla's in Europe according to the initial plan. The bottom line is, Hertz in an effort to be woke, made a huge corporate blunder. Renting a car is a pain in the ass on a good day. Who wants to waste a half an hour in an airport learning about charging stations, adapter plugs, differences in acceleration and handling... and then to top it off... charging the damn thing to 100% before bringing it back to avoid penalty fees? They probably planned for those fee's thinking (rightfully so) that most business travelers are in a hurry and don't want to sit somewhere for an hour charging a stupid car. On top of that, rental cars are notoriously beaten up and most of those TSLA's have north of 100K miles on them, with dings and dents everywhere. Plus, Elon lowered the price on new ones. Hertz is a non-event in the bigger picture of Tesla. It was a horrible move on their part and they are paying the price and writing it off. When a similar low mileage, clean, one owner Tesla sells at the same price as the Hertz fire-sale vehicles, then you might have a point. Until then, your commentary on the resale value based on a flawed corporate decision by a rent a car company as it relates to the current stock price is silly and quite frankly... meaningless.
Well I agree with some of the points you made regarding Hertz's purchase of EVs. However I will note that a flawed decision to purchase a large number of fleet vehicles and then fairly quickly turn around and dump them in large numbers on the market as used -- will impact the sales of new Teslas. It is an issue which relates to the current stock price and future projection until the used inventory is moved. And as I noted earlier all the other EV companies are growing their sales -- including large comparable ones like BYD --- while Tesla and Volkswagen are the only ones shrinking. Coupled with this is the deep discounting of Telsas starting in mid-2023 was not enough to move the cars and stop Tesla inventory from building up greatly.
Well this should improve the stock price... Elon Musk may ‘step back’ if shareholders reject $56bn pay package, Tesla chair warns Robyn Denholm says electric carmaker’s CEO could spend his time elsewhere if biggest pay deal in US corporate history isn’t approved https://www.theguardian.com/technol...ers-reject-56bn-pay-package-tesla-chair-warns
https://www.axios.com/2024/06/11/mu...paign=newsletter_axiosmarkets&stream=business Why Musk is tied to Tesla