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Hertz orders 100k Teslas

bloomberg.com

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Re: Hertz orders 100k Teslas

#61

Post by aerosmile »

cblconfederate wrote: post #43

> Car-rental firm, recently emerged from bankruptcy under new ownership, orders vehicles by the end of 2022 That does sound crazy that they re doing it while they ll be still in pandemic, which bankrupted them in the first place. I guess in the US people can always find a charger. I wonder how many people will rent those cars for the novelty factor, and novelty only works once. And it will be interesting to see what…

Many people are wondering where Hertz found the money to make this purchase.

> it will be interesting to see what people think after they have rented one

They will absolutely love it, just like I did when I rented one on Turo and then bought a new one the very next day. Also, the Hertz crowd is exactly the right target customer for Tesla. All of which shows how brilliant this deal is for Tesla, and how incentivized they must have been to make it happen. Which likely answers the question above.

Re: Hertz orders 100k Teslas

#62

Post by lrem »

_Microft wrote: post #48
jessriedel wrote: post #31

Earlier quoted context omitted.

> small acceleration gas cars provide with no braking Gas automatic cars :)

In my experience cars with diesel engines and manual transmissions also had the tendency to creep forward instead of stalling while in first gear when neither brake nor accelerator pedal was stepped on.

All cars will creep forward with the first gear on. The thing is, if you're already going faster than 10km/h, they'll decelerate towards that surprisingly quickly.

Re: Hertz orders 100k Teslas

#63

Post by zibzab »

uxp100 wrote: post #23

I assume there is a little bit of a "meme stock" element to this, the reddit folks will love it, but I think I would pay a small premium for an electric car when renting (unless I needed long distance). More likely I pay a premium for that than for than the higher end ICE car options at car rental.

The problem is that when you are renting from Hertz you are probably new to the area and don't know where you are going and if there are any charging stations nearby.

Re: Hertz orders 100k Teslas

#65

Post by aerosmile »

quartz wrote: post #55
cblconfederate wrote: post #43

> Car-rental firm, recently emerged from bankruptcy under new ownership, orders vehicles by the end of 2022 That does sound crazy that they re doing it while they ll be still in pandemic, which bankrupted them in the first place. I guess in the US people can always find a charger. I wonder how many people will rent those cars for the novelty factor, and novelty only works once. And it will be interesting to see what…

I wonder if the goal is to consume the market so it's more difficult for other rental car companies to get Teslas? Personal anecdote but I already am generally willing to pay a slight premium for Hertz over other rental companies and would be willing to pay slightly more still if it meant renting a Tesla.

The beauty of being the first in the market. All the manufacturers with the shiny new EVs will have a higher marketing cost because Tesla is able to get the free PR and the best co-promotional deals like this one.

Re: Hertz orders 100k Teslas

#66

Post by yardie »

dna_polymerase wrote: post #38

Everyone with a bit of AI/ML knowledge already knew this but from this story it should be clear that Tesla's plan to convert their fleet into self-driving Taxis is basically dead.

You can't buy out a Tesla lease because they are using those lease returns to stock their self-driving fleet. And until this changes then Tesla's plan is still in play.

Re: Hertz orders 100k Teslas

#67

Post by gruez »

moralestapia wrote: post #44

Colour me skeptical. Hertz just declared itself bankrupt a year ago, now they have 4bn cash to spare? Both things cannot be true in such a small timespan. Either the 'bankruptcy' was a fraud, or the Tesla deal has some small letters like "of which we will acquire 1,000 per year for the next 100 years". Sure, the official story is "we were bankrupt but we found new investors at the most convenient time", but that coul…

>Hertz just declared itself bankrupt a year ago, now they have 4bn cash to spare?

where did you get 4B from? presumably $40k per car multiplied by 100k cars? The cars are probably financed, so they don't really need the entire $40k upfront. Using the tesla leasing calculator https://www.tesla.com/support/tesla-leasing, a $40k model 3 only costs $19,299 for the first 36 months.

>Also, they raise 1.65bn [1],

the source you linked says the 1.65B is from coronavirus relief. It doesn't preclude them from raising more through other channels, eg debt/equity.

Re: Hertz orders 100k Teslas

#68

Post by Fckd »

dna_polymerase wrote: post #38

Everyone with a bit of AI/ML knowledge already knew this but from this story it should be clear that Tesla's plan to convert their fleet into self-driving Taxis is basically dead.

Its a story to pump stock and it worked for them but i cant say the same for pension funds guys

Re: Hertz orders 100k Teslas

#69

Post by moralestapia »

lrem wrote: post #51
moralestapia wrote: post #44

Colour me skeptical. Hertz just declared itself bankrupt a year ago, now they have 4bn cash to spare? Both things cannot be true in such a small timespan. Either the 'bankruptcy' was a fraud, or the Tesla deal has some small letters like "of which we will acquire 1,000 per year for the next 100 years". Sure, the official story is "we were bankrupt but we found new investors at the most convenient time", but that coul…

Literally the first line of TFA: Car-rental firm, recently emerged from bankruptcy under new ownership, orders vehicles by the end of 2022

Literally the last line of MFC: "Sure, the official story is [...], but that could've easily planned beforehand."

Re: Hertz orders 100k Teslas

#70

Post by moralestapia »

gruez wrote: post #67
moralestapia wrote: post #44

Colour me skeptical. Hertz just declared itself bankrupt a year ago, now they have 4bn cash to spare? Both things cannot be true in such a small timespan. Either the 'bankruptcy' was a fraud, or the Tesla deal has some small letters like "of which we will acquire 1,000 per year for the next 100 years". Sure, the official story is "we were bankrupt but we found new investors at the most convenient time", but that coul…

>Hertz just declared itself bankrupt a year ago, now they have 4bn cash to spare? where did you get 4B from? presumably $40k per car multiplied by 100k cars? The cars are probably financed, so they don't really need the entire $40k upfront. Using the tesla leasing calculator https://www.tesla.com/support/tesla-leasing , a $40k model 3 only costs $19,299 for the first 36 months. >Also, they raise 1.65bn [1], the sourc…

>https://www.theverge.com/2021/10/25/22744504/hertz-tesla-ord...

>the source you linked says the 1.65B is from coronavirus relief. It doesn't preclude them from raising more through other channels, eg debt/equity.

Sure, but I doubt they raised more than 4bn. Even if they did, don't you think is a bit fishy to suddenly spend your whole lifeline in (not a few, but) a hundred thousand electric cars?

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