If it was only 20-30 minutes it wouldn't be too bad, but that's rarely the case.
Hertz to sell used Teslas at Fire Sale Prices
- Thread starter demarpaint
- Start date
I agree. But a fast charger will have you back on the road after 20 to 30 minutes of charging up the typical Tesla with less than a 90kwh battery.
GON
$150 Site Donor 2025
That is not how business works. Time is money, space is money, holding onto vehicles that don't match the business model trying to get current market value has costs.
I give often give awesome stuff away (and even throw away good stuff) when I move, that could sell for very good $$$. The time and other costs to market the items, and the find right buyers, takes away from other activities I want/ need to do.
I speculate the thesis of this thread is that Tesla's are being liquidated at fire sale prices, like single family homes were being liquidated in the area next to three-mile island just after the incident. I don't think that is the case, Hertz added TSLA to their fleet to be hip/cool/fashionable, and of course EVs are not a match for a nationwide rental fleet on a MACRO basis.
I'm guessing hertz bought the smaller battery cars. The Tesla fast chargers usually hit 100kw, most people usually don't run the car down till it's about to die before hitting a charger and most people don't try to fully charge the car as going from 80% to 99% takes longer than going from 20% to 80%. The problem is having to hit a charger every about every hundred miles or slowing way down. Both options suck.
It damages the immediate market price of said liquidated item. A typical case study in the old days was giving away 2 for 1 toothpaste coupons right before your competitor was launching a new type of toothpaste.
Liquidating these hurts Tesla directly and any Tesla owner wanting to trade - in the mid-term.
This is also true, but not applicable to yours truly, as I live in that odd zone that used to be middle class, but is now probably "poor and just doesn't know it".
Large part of the issue is Tesla started cutting prices on new cars, leaving Hertz in a lurch trying to sell used cars at reduced. It fact Hertz CEO slammed Musk and broken promises which included(lack of better word) the reduced price of new Tesla's was killing them on resale value. Meaning Hertz was forced into almost liquidated prices compared to what the initial price they paid for the car knew.
AND ... repair part prices were off the wall, long delays waiting for parts too. It was a failed experiment by Hertz.
That was then and now, it seems EV sales growth has fallen flat on its face to add more to the losses.
I don't really blame Musk, his job to sell cars, it was Hertz job to do their do diligence ... like I tell someone who moves into an HOA then complains *LOL*
Bottom line, Hertz made the mistake of trusting Musk's words rather than their own due diligence is the way I see it.
That seems to be happening a lot with this newest generation as they infiltrate marketing and lower level management jobs.
It's every 200mi for 20 minutes, but fair.
Battery replacement is a huge expense. There will be a lot of dead EV's nobody wants..
200 from a full charge to dead. I was talking about going from fast charger to fast charger. Leaving one fast charger at around 80% charge and not running the car dead before the next. As it would not be wise to arrive at a charging station without enough juice to make it to at least the next one. Ideally driving in the summer one could drive 120 and even ideally 150 miles between fast charges. In the winter with the heat going, it's going to be closer to 100 miles from fast charger to fast charger.
GON
$150 Site Donor 2025
Rental car companies are inherently a slimy business. Earlier this week Avis charged me by AI for five gallons of fuel, on a 90-mile rental, when I fueled up just before turning the rental in. I am a "top tier" Avis customer, but their business model doesn't change based on how frequent a customer is.
Avis claims to have the ability to know the exact level of fuel the vehicle left agency with, and the exact level of fuel I returned the vehicle with. All a fraud processed by AI. But, Avis knows guys like me have limited options, and the time it takes to dispute the charges is not worth it. Just like Hertz liquidating Teslas, not worth the time in their assessment to try and get at or near retail.
Numerous issues as another contributor to this thread pointed out. What is a like Tesla selling for non-Hertz, what diminished value does a car being a prior rental have on used EV prices, what happens to prices when a fleet manager wants to sell 50k used EV vehicles in under ten days, etc.
Tell the CEO of Hertz welcome to the free market.
The agreement he supposedly had with Musk would have been price fixing. I would ask him for proof of said agreement, then hand it to the justice department.
Already are. I see 10 year old Nissan leafs with 40 miles of range on a full charge that no one wants.
Battery operated EVs are the equal (if you're old enough to know) of the Bic disposable lighter. Im not sure the public will mind too much as they will last a long time, I think.
GON
$150 Site Donor 2025
No honor among thieves?
Honor (or Honour) Among Thieves is a phrase suggesting trustworthiness within a group that is not considered trustworthy to outsiders.
I dont know anything about an agreement. Hertz was giving the reason for the massive losses they were hit with.
"Moreover, not long after it started purchasing Teslas, price cuts as well as the reintroduction of the $7,500 new EV tax credit meant the Model 3 and Model Y became dramatically cheaper. Sometimes literally overnight. Those cars settled down in the mid-$30,000 range and low $40,000 range, respectively. That may be good for consumers in search of a deal, but it had the effect of hurting resale value. Hertz had effectively overpaid for vehicles that it would not be able to get anywhere near as much of a return on when it was time for them to be sold, and resales are a huge source of revenue for rental companies."
Source -
https://insideevs.com/news/704275/hertz-ice-tesla-2024/
Sold mine for $5000. Most people drive less than 40 miles a day if they live in a big city so not a significant issue. That's why I picked up another one to sell.