Good catch. Plenty around the hertz pricing and not having been a ‘drive/charge/drain it like you stole it’ rental. model Y has plenty of comparable vehicles.
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Hertz cuts back on EV purchases
- Thread starter ThomasD
- Start date
If I’m not mistaken Hertz has claimed maintenance costs are higher—not my comment their‘s. I think the bigger issue is the price reductions reduces, greatly, the value of existing cars and for rental fleets they need to mark down values of assets which negatively impacts earnings.
My own 2023 model s is 1 year old and has depreciated just slightly less than 40 grand (price of a M3) in year according to Tesla trade in value. It’s irritating for sure but more so not a motivator to buy another Tesla. For the foreseeable future I will only lease them. There was a thread in the model S forum with a group of angry owners. Not that it’ll be a huge impact to Tesla but I’m sure some of them are moving in to other brands.
My own 2023 model s is 1 year old and has depreciated just slightly less than 40 grand (price of a M3) in year according to Tesla trade in value. It’s irritating for sure but more so not a motivator to buy another Tesla. For the foreseeable future I will only lease them. There was a thread in the model S forum with a group of angry owners. Not that it’ll be a huge impact to Tesla but I’m sure some of them are moving in to other brands.
As I basically posted elsewhere a day ago:
I hadn't seen any great Tesla deals Rental Cars for Sale | Hertz Rent2Buy when sorted from low to high. It seemed the cheapest/cheaper ones all had really high mileage for their age. Today, it seems even more of the some of the cheapest ones are gone. Most of the 3 on the first page have 70+K miles on them with the lowest having ~50K miles. We're talking '21 and '22.
Someone on another forum mentioned Uber.... ahh.. that likely explains the high mileage on many of them.
https://www.uber.com/us/en/drive/vehicle-solutions/hertz/ has a link that points to https://www.uber.com/us/en/drive/vehicle-solutions/hertz/tesla/ and mentions a bunch of benefits of renting a ('21 or '22) Tesla from them.
Besides what was said on analyst calls, one can look at SEC Filings | Hertz Global Holdings, Inc.. https://ir.hertz.com/static-files/402bfe0c-04e9-455d-af2f-69645c3728f1 from Jan 11, 2024 seems relevant to all of this.
Cars depreciate. Luxury cars depreciate fast. Welcome to the non covid price, world.
Re moving on, they’ll be back. what are they going to do? buy an EV with less tech? an ev that doesn’t allow any media while charging(rivian)? Going to wait on CCS chargers? deal with BMW/MBZ deprecation?
In addition to depreciation losses attributable to Tesla lowering MSRPs, here's the key line regarding repair costs:
Tesla has had more price volatility in MSRP than other manufacturers. its a significant problem when it comes to Teslas. If you chose to pay over MSRP to get a car during COVID that’s a personal decision but the manufacturer is generating the volatility based on wild fluctuations in MSRP that’s a completely different problem and impacts book value of the assets.
i bought a 2023 Model S 1 year ago when the MSRP was 90 grand, the current 2024 MSRP is 75 grand. That has nothing to do with COVID pricing vs non-COVID. It’s Tesla generating demand. Tesla will give me 56,800 on a trade. Annoying to me but I’m not managing a fleet business. There are people that paid 150 grand for MSP cars that are now 89. This isn’t like ford putting a 10k market adjustment on a newly released Bronco.
To you point on charging, everyone is supercharging this coming year. Moreover, I’ve roadrripped CCS and Tesla cars. Tesla SC is better but I had no issues over several 3-5k mile trips.
Cool cool.
I have never seen solid numbers on how many stations tesla is going to open to NACS adapter users. Just a lot of internet users screaming from the roof tops that ‘all superchargers’ will be avail this year.
CCS is trash. Inferior garbage. Handshake drops, magic apps and connectivity, accts with every provider and still needing to call in to start a charge. Yep. Totally fine behaviour. No one talks about how CCS is bad, not on YouTube or in person. /s/
I often have to move my petrol vehicle to a new pump for fuel a few times during the process of refueling.
They need to allow access to 7500 in order to receive their portion of the 7.5 billion dollar infrastructure investment.Cool cool.
I have never seen solid numbers on how many stations tesla is going to open to NACS adapter users. Just a lot of internet users screaming from the roof tops that ‘all superchargers’ will be avail this year.
CCS is trash. Inferior garbage. Handshake drops, magic apps and connectivity, accts with every provider and still needing to call in to start a charge. Yep. Totally fine behaviour. No one talks about how CCS is bad, not on YouTube or in person. /s/
I often have to move my petrol vehicle to a new pump for fuel a few times during the process of refueling.
Stalls or stations?
Alexa- how many superchargers are within the USA?
21,7xx+
Seems like a tear drop in a water bottle.
Certainly not insignificant, but certainly not “zomg the whole network open in 2024”
ZenRockGarden
Active Member
I still boggle at how many of their fleet of Teslas they could manage to crash. At worst you would take a total loss, for which you'd typically be paid by the driver's insurance. This just doesn't seem to pencil out as a horrific cost vs the very clear depreciation they experienced by buying a fleet at peak EV prices, putting 100k on them and now selling into a very cheaper market.
I don't see Hertz giving specific numbers, but I do think a "higher than usual" number of front-end collisions is plausible. Whenever someone drives a Tesla for the very first time, what does the person typically say? "I can't believe the acceleration! Wow!" When I have a family member or friend drive my MY for the first time, I always warn them, be careful with the "gas" pedal.
Most people's habit pattern with the accelerator is based on an expectation of lag and more gradual acceleration. And inside their Teslas rented from Hertz, they don't have any of us TMC members to caution them. In traffic -- especially in a city for which that are not familiar -- a significant change in expected performance can mean a crash.
Highly likely.
Also, it’s been posted. Most were likely rideshare vehicles due to the rather advantageous rate you could get on them coupled with not paying for petrol+maint associated with that as a rideshare vehicle.
Could be a win win for some people. For people who don't drive a lot, they could take a two year old 60,000 mile vehicle and still not hit 100,000 miles in 6 years. Maybe doesn't describe the average person's use case, but this actually fits my situation. Too bad these Hertzs weren't available last year.
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