Yeah really, they listened to a conman and got conned. Renting Teslas to Uber drivers...lol
Hertz CEO says buying EVs was a big mistake and very costly to the company margins
- Thread starter alarmguy
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Yeah really, they listened to a conman and got conned. Renting Teslas to Uber drivers...lol
Depends on the rental. For the family vacation where I'm taking it to LA rather than my own car, it might not be the most convenient. However, I've made a vacation work in a Tesla, so that might be good experience for a similar trip in a rental. If I knew in advance I might prepare for where I could get free/complimentary charging, which is fairly common these days.
For a business rental that would be different. I've rented a few ways, but the most convenient was when I didn't have to provide a credit card nor get reimbursed, and where the company travel agent said to just return it as is and they had a special deal with the rental car agency. I'm thinking it would be similar with an EV, although that's complicated since I assume the company would be paying for any charging, while with a gas powered car I would have been on the hook (ostensibly out of my fixed per diem) for any additional fuel. If it were an EV under similar terms, I'd think a charged vehicle might actually work pretty well, although I might just charge it as a courtesy for the next customer. I also tend to have range anxiety so I'd be charging often with a vehicle I'm not familiar with.
I received a car once with less than a full tank and it limited the mileage I could accumulate without having to reduce money in my pocket. I was free to take the car anywhere I wanted outside of work since otherwise I didn't have a car. With an EV and charging being paid by an account, that might make more sense for me to charge it if I have time.
When I was saving all receipts and getting reimbursed, it got interesting dealing with personal vs business use of a rental. Once I had about a two week business trip and I considered the weekend to be when I was responsible for paying for my own gas but I couldn't separate the rental car rate (which was weekly anyways). On Friday I filled it up and that receipt was submitted for reimbursement. I'd fill it up again on Sunday and that's when I considered it on the clock for my company, even if I was taking the car to the mall or dinner after hours. I'm not sure how that would work for an EV. There are different ways to pay for charging, where something like Tesla Supercharging is typically settled after the vehicle is returned. I've yet to use any kind of EV charging that requires a credit card at the point of use - or some kind of account - like ChargePoint.
Then why are they buying more?
Both
It's not like we haven't seen companies double down on failed policies before.
Because they legally have to. They signed a binding contract which would have repercussions if hertz were to back out of as legally they would no longer be performing their obligation on the contract. This is from 3 days ago please read up on it. They still haven't received all 100,000 units and even before having received the last one they've already regretted it. But they're in too deep.
https://www.google.com/amp/s/www.cn...ans-citing-tesla-price-cuts-repair-costs.html
Theydve backed out long ago if they legally could've. They're in too deep so they have to soldier on with the poor decision they made.
I'm not so sure there is a binding contract. From the article:
"Tesla CEO Elon Musk waited until November 2, 2021, a week later, to inform Tesla shareholders in a post on Twitter, the social network he now owns and has rebranded as X, that Hertz had not signed any contract with Tesla for the high-volume order."
There has been no talk of a binding contract forcing Hertz's hand. Have you seen any?
I belive Bosch is not a public company and is definitely global/worldwide
As someone who wishes Hertz and Tesla would both fall off the face of the Earth, I find this entire debacle hysterical. Talk about two piece of crap companies that deserve each other.
True believers "electric vehicle sales are always increasing".
Magic Panasonic 8ball says "future uncertain".
https://electrek.co/2023/10/30/pana...amid-weaker-ev-business-but-tesla-looks-good/
Magic Panasonic 8ball says "future uncertain".
https://electrek.co/2023/10/30/pana...amid-weaker-ev-business-but-tesla-looks-good/
Perfect example of a non-public world wide corporation. It is VERY interesting. 94% of its shares are owned by a charity that is not involved in nor has any voting rights.
I’m sure you know my reply was to another me not agreeing that public traded companies are inept at planning more than 3 months out. Almost every ginormous successful company is.
This is what I found good read, good post.
https://en.m.wikipedia.org/wiki/Bosch_(company)
Yes, I just read about this this morning from another source.
Can you imagine if they were no taxpayer funded rebates for these cars?
I can’t wait to see what happens when they expire.
For an electric future that has to be a different type of battery or hydrogen with fuel cells to make the most sense.
You’ll be able to still drive to your favorite fuel station and fill up your tank with hydrogen
There are a number of companies around the world right now trying to figure out how and where to tap into earths vast reserves of white hydrogen, which would be the fuel for the electric vehicle.
I think we’re still about five decades too soon but who knows?
They seem to say all they need to do is tap into 1% of this white hydrogen for a massive amount of useable fuel. Even better earth constantly make more.
I only recently started hearing and reading on this, but I believe the above is a pretty accurate from a source which I do not have the link for at least at this time. It might’ve been in financial news and not your every day news.
If the rug made out of other people's money were pulled out from under the EV market sales would be at least be cut in half.
Well all one has to do is look how successful with EVs the other rental car companies are then, right?
If anyone has any links with that info it would be helpful
Exactly. Hertz did the favor of revealing this to the rest of the corporate world that the Tesla corporation cannot be trusted.
GON
$150 Site Donor 2025
When given a chance in a free market, the market will always figure it out and find a solution and/or way.
Maybe electric, maybe some other means, but when a country has truly a free market, and eliminates barriers to entry, a solution always appears.
And of note, private organizations give rebates. Government does not give rebates, it simply a hidden tax. In this case, it is a tax on the working people of all the 50 US states , with the tax coffers of the state of California being the primary beneficiary.
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Dell Technologies went private for a while. The goal seems to have been to build their software and services side through M&A, in a way that might have caused a shareholder revolt otherwise I guess.
The subsidies will be revoked at the next administration change, I'm sure. Which will be fine, with the average new gas car in the US costing $48K+ it's questionable that they are really necessary anyway.
I believe that eventually EVs will win on their merits anyway, as they should in a free market economy, but there must be cheaper new EV options as well as affordable battery replacements. Battery replacement is one area where the aftermarket can step up. I don't know that the volumes exist yet for the efficiency of scale required for it to make sense to the aftermarket to put in the cost of development, but it will at some point.
At some point, if the manufacturers currently existing in the US market cannot bring lower cost EVs to market, China will. That is what the OEMs are up against and they know it.
GON
$150 Site Donor 2025
The real problem statement is:
"What motivation does the CEO and chairman of the board of gm and Ford have to produce a EV or alternative fuel vehicle that is world class and is affordable by working class consumers of the U.S."
GM and Ford can remain profitable in the near term by full size pickup sales and fleet sales to the U.S. federal government.
