Hertz to buy 100K Teslas

Separate power meter ... it's already starting. No surprise.

But that’s 100% optional, and they’ve had the program for many years.

It’s the customer’s choice. Either join the EV program, install a separate meter and charge off-peak and weekends for 2.391¢/kWh. Or plug into any outlet at whatever the normal residential rate is now. You just have to do your own math based on how much you’ll charge.
 
This is financially irresponsible.
I rent cars all the time. I'd be thrilled to rent a Tesla. I enjoy driving them FAR MORE than an Altima. I am capable of using the software to find a charger. I'm also OK with letting Hertz "top it off" when I return it. It's part of the cost of doing business.

For those who don't know, Hertz charges a "Fuel and service" fee if you drop off a car that is not full. Maybe $10 per gallon or more! HOWEVER, they sometimes use the miles driven, fuel gauge and estimate the refill costs. 30mpg combined, x 100 miles is 3.3 gallons or about $33. Reality is the car will take 5-7 gallons and airport fuel will be $4, $24 to DIY fill. Point being, it's a ripoff, but might not be as horrible as first thought.
 
Yes, I fully suspect that EV charging will be accounted for separately somehow, either through some smart charging infrastructure that tracks the EV "handshake" or similar, to match the revenue currently recouped from gasoline taxes, which are supposed to fund roads and bridges.

EV charge kWh will be taxed separately from home usage kWh, and thus the rate will be considerably higher. That's the only way to make it like gas vehicles where you are inherently paying more for larger or performance vehicles by using more fuel. Same goes for bigger, heavier, faster EV's, they'll suck back more kWh.

My understanding is that there's already communication capabilities in the charge ports, so it's not difficult to envision that being leveraged by equipment placed on the "network" to track the ID and consumption of the vehicle and present that separately on the power bill.

At one of my properties, I pay by the kWh and for the kW peak. I need to look closer, but it’s some sort of power based charge. I suspect that’s in there because for many, the EV will be a significant driver of kW load. At least around here where dryers and heating tends to be NG.
 
So I spend the better part of 60 large on a Model 3 in Dec 2018.
TSLA was in the low $60 range.
Let's see... $58,000 / $63 = 920 shares.
920 * $1,024 = a lotta scratch...

Ya win some and ya lose some...

Congrat's MaMa didn't raise a dummy!

Is your portfolio diversified?

You should easily be able to figure out a way to quit working if you understand how the options markets work. I had to sell and rebuy higher strike puts 2 times in 20/30 minutes this morning on NVDA before I went to the doctor, 3 contracts each time, that sucker is ripping pretty good too. I have also written 3 out of the money upside calls for a little extra income. My protected put strikes on NVDA are at $260.00, 11/26/21. Tesla left a bad taste in my mouth, I won't touch it again. OIH has done very well for me, as well as PYPL because I have a hardcore vertical spread even when it went down 30 points on the Pintrest deal I didn't lose a dime. Options Actions is actually pretty good to help learn straddles, spreads, collars, ect. and how to use them to "NOT" lose money.
 
I’m looking into 240v home charging installation now. My local electric company has an EV program and it’s massively cheaper per kWh (when used off-peak). Have to install a separate meter though, which will take a long time to recoup. Long term it makes sense, but I’m afraid they’ll kill the program before you’ve broken even 🤔

Still seems unlikely they’d go from dirt-cheap off-peak EV rates to HIGHER than normal off-peak EV rates.

If there becomes enough EV users, off peak may no longer be off peak? They are going to get revenue from where ever they can, coming from a checkbook near you soon...
 
I have to believe Hertz has figured out how to charge their EVs, how to bill customers, etc. They are installing chargers as well.
The stock market has put its faith in Tesla and its whack CEO.
In fact, Morgan Stanley thinks Musk may be the 1st trillion dollar man.
Bob Page,
 
In this corner of the world my EV costs 1/5th of my ICE car to run, both cars are a similar size. If I used public chargers I'd still be paying half or 1/3.

Electricity prices vary here in the states, I live 5 miles from a Hydroelectric power generating Dam. They make power from all the water from the continental divide near Yellow Stone that exits into the ocean from the Columbia River, there must be 15 or more Hydro Dams from many other Rivers. Electricity here cost less than 1/3 of what I used to pay in California.
 
I saw an article yesterday that said Tesla plans on delivering all 100,000 Model 3's to Hertz during the 2022 calendar year.
That's a pretty substantial number of cars to one customer. That tells me that Elon is confident that he will be able to increase production enough to fill that order and still keep up with the demand from the regular consumers, which already is on a several month wait list.
Pretty amazing for a company that is less than 20 years old.

There was a lot of profit taking yesterday, most likely by the large institutional accounts as the stock price was nipping at the heels of $1100 before it dropped back down to the low $1000 range. But I have no doubt that it will creep back up again, absent any interference by the government and the now weaponized NHTSA and the new virulently antti-Tesla head Missy Cummings.
 
I saw an article yesterday that said Tesla plans on delivering all 100,000 Model 3's to Hertz during the 2022 calendar year.
That's a pretty substantial number of cars to one customer. That tells me that Elon is confident that he will be able to increase production enough to fill that order and still keep up with the demand from the regular consumers, which already is on a several month wait list.
Pretty amazing for a company that is less than 20 years old.


Hertz better line up their trucks and drivers to drive them. A lot of stuff is not moving right now so I say it’s bold talk for the Musk
 
Based on what, a Prius and gas prices from two years ago compared to just using Tesla Superchargers? That's just nonsense. An EV costs considerably less to recharge than ti does to fuel an ICE car. I can break down the math for you if you'd like to see how that works, I've no problem with that.

Most people who buy an EV will be charging at home, where electricity is considerably cheaper than at a fast charge station.
Based on this:

https://www.caranddriver.com/news/a38043667/study-electric-cars-higher-cost-questions/
 
Most people who buy an EV will be charging at home, where electricity is considerably cheaper than at a fast charge station.
Many who do, put up with slower charging rates unless they upgrade their home electrical service to a 200 amp main to accommodate high-speed charging. That’s at least $7-20K in work(Bay Area labor rates). However, the utilities give EV owners a different rate plan to accommodate EV charging on off-peak hours, but pay much more per kWh during peak.

I’ve seen Model 3s and S/Xs parked in front of multi-million dollar homes with nothing more than a 120V cord from the garage.
 
https://www.cnbc.com/2021/10/27/ube...teslas-to-its-drivers-through-hertz-deal.html
Starting Monday, drivers can rent 2021 Tesla Model 3 cars through Hertz’s rental program in Los Angeles, San Francisco, San Diego and Washington, DC. It will expand nationwide in the following weeks.

The company said Tesla rentals will start out at $334 a week, excluding taxes and fees, but pricing will decrease to $299 or lower over time. Initially, the company will require drivers have at least a 4.7-star rating and a minimum of 150 trips.
 
Many who do, put up with slower charging rates unless they upgrade their home electrical service to a 200 amp main to accommodate high-speed charging. That’s at least $7-20K in work(Bay Area labor rates). However, the utilities give EV owners a different rate plan to accommodate EV charging on off-peak hours, but pay much more per kWh during peak.

I’ve seen Model 3s and S/Xs parked in front of multi-million dollar homes with nothing more than a 120V cord from the garage.
If you have an older home with a 100A (or whatever) service panel you are in deep yogurt. I had ours replaced years ago.
 
Hertz orders some cars, just like they do with many manufacturers every day, and suddenly Elon is worth nearly $300 billion dollars. 330x P/E ratio on tesla according to my Etrade. GM is only 6.6 P/E. I bought some GM stock today just to short term flip because of this disparity.

Tesla is so overvalued. Or is it still way undervalued? I dunno but im not playing that game.
 
That “study” is a joke, Car and Driver even points out the flaws in it… they assume $2.81 for a gallon of gas, and their “mostly at home” charging still includes 40% commercial charging. They also assume an EV owner who “mostly” charges at home spends 4.5 hours a month messing around with the charger. They say trucks and crossovers are included in their “mid-priced ICE” category but then assume 33mpg which is laughable.
 
Did you read it?

They (justifiably) pick it apart:
caranddriver said:
Here's another example of the study's methodology. The paper makes the case that charging an EV takes longer than an internal-combustion-engine vehicle. This is true for anyone who can't charge at home—and it is undeniably a real issue—but then, in order to calculate the dollar cost of the extra time it takes an EV driver, the authors assume an annual salary of $70,000. According to the Social Security Administration, though, the national average wage index for 2020 was just over $55,000. ZipRecruiter says the average annual pay for a national in the United States is just over $74,000 a year, but also says that the "average pay range . . . varies greatly (by as much as $52,500)."

In any case, by using the higher estimated wage, the study authors are able to show that EVs "cost" more because they assume that each minute of time it takes to charge is worth more money than if they had used a lower annual salary.

Then let's look at how the study authors deal with "free" public chargers. They admit that these options exist, but then say that they "recognize that ['free' chargers] involve a cost that must be paid, and which may be embedded in property taxes, tuition, consumer prices, or investor burdens." Their solution? They simply "price [the free chargers] using commercial rates." Well, isn't that convenient? And you can probably guess how they deal with the various free charging bundles that some automakers offer with the purchase of a new EV. That's right. Instead of counting it as zero cost, they price it like other commercial rates.
Followed by:

caranddriver said:
There's more. While the paper mentions that "EV buyers typically receive a Level 1 charger along with their auto purchase," they still include a $600 fee to buy one in their tally of costs. They also make another gaffe when calculating how much energy is needed for each vehicle. Although they cite our piece on charging losses, they apparently forgot to read the one on consumption versus efficiency, because they use EPA combined efficiency figures in their calculations—those already include charging losses—and then add another factor of 88 percent to account for charging losses. Unwinding the double counting lowers the cost figures by more than a dollar a piece to between $11.72 and $12.97. And if you instead assume home charging in a 90/10-percent split, the cost of the luxury EV drops to $10.50 per 100 miles, handily beating the luxury gas-powered example.

It's even worse than what I jokingly made reference to, they apply a cost, based on an hourly rate, to the perceived time it takes to charge the EV, which is ludicrous.

The "study" is a joke.

Think of the lines people wait in at Costco to get gas vs coming home plugging in and walking away. They aren't even comparable.

Now, if you want to have an honest discussion on operating costs, we certainly can, because that isn't it.
 
Many who do, put up with slower charging rates unless they upgrade their home electrical service to a 200 amp main to accommodate high-speed charging. That’s at least $7-20K in work(Bay Area labor rates). However, the utilities give EV owners a different rate plan to accommodate EV charging on off-peak hours, but pay much more per kWh during peak.

I’ve seen Model 3s and S/Xs parked in front of multi-million dollar homes with nothing more than a 120V cord from the garage.

The 38A (50A) dryer plug doesn't require a panel upgrade (though it is recommended if you have a lot of high draw appliances). A 100A or 125A panel is sufficient, which makes the installation cost a lot cheaper, just don't run the dryer, stove and EV charger at the same time.

My e-tron was initially charged with 120V and that is sloooooooow. Audi provided an incentive/rebate to have a proper (50A) charge plug installed.

The big cost (at least in Ontario) to go to 200A is that you have to get the service from the street upgraded, which involves the city and the utility and greatly increases the cost. The 200A panel itself is quite inexpensive in comparison.
 
I am always surprised to see these lower amp service panels being used in other places. Here in Washington state the standard is 200amp and has been for a long time. Larger homes will get a even bigger service.
 
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