Hertz to sell used Teslas at Fire Sale Prices

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.
Reality can be a you know what!
 
I just looked at their Springfield, Va. location and they have lots of them. Several 22's with 70k on them for $22-23k and show the EV credit. Other 22's did not show the EV credit. They have a lot of 23's with 40k miles for $25k. They even have a lot of Mercedes EQB's for $35k scattered around the mid Atlantic with around 5k miles for $35k. They are almost new.
The 22's show price is below KBB's fair market value graph.
 
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.
Tesla has always had ridiculously expensive repair costs. It doesn't help that they randomly change parts or part designs that are not compatible with previous parts making Tesla carry more parts on the shelf, more part numbers and more confusion. The model Y has Three different frunk latches installed in the first year alone, and like usual aren't compatible with each other. Good luck figuring out which one you have. Second Musk has said in the past that "Tesla doesn't need to make alot of repair parts as Teslas don't break down. "
 
I agree 100% with the first two paragraphs, and will add rental car companies suck imo. The third paragraph however is something their upper level management has to decide. Bottom line is they screwed up, and I have a feeling they might not care what happens to the used EV market in the short term. Short term meaning how they get out of their mistake without sinking their ship. HTZ track record in all of this sucks, so I would expect them to make more mistakes in trying to get out of this mess, and not care about collateral damage. Time will tell.
The weird thing is that I applied and interviewed with Hertz for an assistant manager position. This was 2019ish. I asked if they had planned on purchasing ev's in large scale. I was told a firm No, that it would be difficult to integrate into their business model.
 
The great automobile EV revolution has apparently hit a pothole or two on its way to world domination. FWIW, all I hear about these days from car buyers is the word hybrid.
 
It is not. I posted the actual IRS policy above, and others have commented as well.

So its entirely possible if not likely EV's got the first $7500 Fed rebate new, then $4K for the next buyer. So $11.5K of taxpayer money per car.
I understand this frustration, but please consider how people earning less than those who are able to claim the full credit are not doing their fair share of paying taxes. They really need to figure out how to make more money so they can stop using up everyone else's tax dollars.

^^That's how people who whine about people getting tax credits sound to those of us who see the whole picture.
 
The battery is and always was the elephant in the room that the fan boys refuse to see. I rather have a 2CV.
We understand it. Its a very low probability event, and its cheaper than similar low probability events, and comes with 8/100 warranty standard.
 
We understand it. Its a very low probability event, and its cheaper than similar low probability events, and comes with 8/100 warranty standard.

Batteries wear out, there is no way around that fact. It might make it 8/100, but at that point it's on borrowed time.
 
The battery is and always was the elephant in the room that the fan boys refuse to see. I rather have a 2CV.
Batteries wear out, there is no way around that fact. It might make it 8/100, but at that point it's on borrowed time.
Please show me the data. At least for Teslas, the car is likely to wear out before the battery.
Here's a recent study; there are many more out there.

"Without data, you're just another person with an opinion", W. Edwards Deming
 
I assume the cars tell you the state of the battery, yes?? So if I considered buying used and the guy says battery is at 95% they could verify?
Is there a hack to essentially roll the miles back on the battery life status?? LOL
 
Please show me the data. At least for Teslas, the car is likely to wear out before the battery.
Here's a recent study; there are many more out there.

"Without data, you're just another person with an opinion", W. Edwards Deming
Data? Just read the Tesla S thread with 30 miles of range. By his account the rest of the car is fine, so much for that. 11 years and nowhere near the million miles some claim.
2013 S with 199,000 miles. Looks and runs great but battery stops charging after 30 miles of range showing.
 
Data? Just read the Tesla S thread with 30 miles of range. By his account the rest of the car is fine, so much for that.
Yes, data. Like I posted. The Model S post is anecdotal, hardly a meaningful analysis. In statistics it's called an outlier.
And consider this... If the batteries were dying that quickly, with millions of EV on the road, over 5M sold in the US alone, don't you think the news would be blasted? Why would car companies continue to invest heavily in a such a product? Why would so many continue to be sold? The numbers are what they are.

I think you should get one of these and do a 10 year study... But don't get a ticket because they are faaaaast...
1717812955640.jpg
 
I assume the cars tell you the state of the battery, yes?? So if I considered buying used and the guy says battery is at 95% they could verify?
Is there a hack to essentially roll the miles back on the battery life status?? LOL
I know Tesla has a battery degradation test; I have never done it.
 
The very early ones will be junk. Really Beta test cars sold to the public during learning curve.

The next gen will have a battery that lasts a very long time. Like the original Prius - Engineering got to design and build it.

The generation after that will controlled by accountants, every part will be "value Engineered" and planned obsolescence will be in full play.

I am not smart enough to know where we are in that cycle with EV's - but that is the cycle of pretty much everything.
 
I assume the cars tell you the state of the battery, yes?? So if I considered buying used and the guy says battery is at 95% they could verify?
Is there a hack to essentially roll the miles back on the battery life status?? LOL
On those Hertz Tesla's there was a range rating on each car. There must be some kind of testing they do on them. They give you the range left on the individual cars.
 
Back
Top Bottom