Posted on 10/25/2021 1:15:16 PM PDT by SunkenCiv
Tesla Inc. TSLA 12.66% became the latest U.S. company to cross the $1 trillion milestone in market value as its stock price has more than doubled in the past year on surging sales and rising profit.
Helping Tesla cross the mark Monday was news that Hertz Global Holdings Inc. HTZZ 10.09% had ordered 100,000 vehicles from the electric vehicle maker to stock its rental-car fleet, a major bulk purchase that could help the car company get more of its cars into the hands of mainstream consumers.
In crossing the $1 trillion mark, Tesla joins Apple Inc., Microsoft Corp. , Amazon.com Inc. and Google-parent Alphabet Inc. Facebook Inc. was part of the group, though its share price has since retreated. Tesla, which last week posted its third consecutive quarter of record profit, is now valued more than the next nine largest auto makers by market cap...
The Tesla order is part of a broader effort by Hertz to give customers more battery-powered options on rental-car lots.
The Estero, Fla., company said that starting in early November and expanding through the end of the year, Hertz customers will be able to rent a Tesla Model 3 at airports and other locations in major U.S. markets and some cities in Europe...
“Electric vehicles are now mainstream, and we’ve only just begun to see rising global demand and interest,” said Mark Fields, Hertz’s interim chief executive. Mr. Fields, a former Ford Motor Co. CEO, took the role earlier this month.
(Excerpt) Read more at wsj.com ...
Nice straw man. The average person drives 12500 miles per year.A Tesla model 3 goes 4 miles with one kWh of electricity from the plug gross. 12500/4=3125 kWh per year or 260 kWh per month or 8.5 kWh per day. That’s the equivalent to running an 3 ton AC unit for two hours. Running a clothes dryer for 1.5 hours or running your stove stove top for 2 hours. More to the point 5kw worth of panels on the garage roof will generate 50 kWh in an 10 hour day which at latitude 33 is the shortest day of the year in January. Every other day is longer than that and at this climate zone we get 220 sunny days per year every one of them longer than 10 hours of daylight. When people hyperventilate about EV charging they are incorrectly using full charging from 5% to 90% of the packs every night that means you would have to drive 250+ miles per day every day a totally ridiculous number for all but 0.01% of Americans the NHTSA keeps mileage data every year and the average daily miles is under 40 with 85% of all people falling under 45 miles per day.
Yeah, same thing happened with Apollo, all those locked trunks filled with money...
That and spark plugs. They really go through them for some reason.
That's the best question NO ONE is asking about EVs. This is going to contribute a huge increase in real cost of operation, which I believe no one has a grip on.
I assume tires, brakes, rotors, may be comparable to ICE cars. Body work may be similar. Otherwise, nothing else will be the same. Perhaps with fewer parts, there will be less to maintain.
Certainly when the computers and batteries are inoperable, no grease-monkey will be able to touch them. They will simply be thrown away. Just go out and buy a new $60K car, peasant!
I have heard tire life is relatively poor, because of the weight. Have seen reports of needing replacements at 20,000 miles compared to twice that typical these days.
interesting...
100k would be nearly 1 in 4 of Hertz rental cars....
While am purely electric car may be fine for commuting, which I am sure a lot of Rentals are for... just airport to hotel, to clients, back to hotel, back to airport.
I highly question this long term. With 8-10 hours to fully charge from dead a tesla, vs < 10 minutes to fully fill an empty tank, you are taking a really big turn around time hit.
I am sure most renters won’t fully drain the battery, just like most don’t fully empty the tank.
We will see how this all plays out, I am sure a good bit of the rental car industry can be serviced fine by niche commuter vehicles.... maybe 25% of their fleet is the right number for them.
However in terms of main stream, until there 300-400 minimal mile range highway, regardless of exterior temperature, and 5-10 minute recharging, and infrastructure to support it... purely electric remains a niche commuter vehicle.
Yup, and antifreeze.
So if I buy a Tesla, do they throw in the garage solar panels for free?
The latest range is now 400 miles. I can imagine these being short term rentals where you never have had to go the gas station anyway.
The big thing is that this more a marketing push than anything (separate them from other rental companies). But the 100,000 will be about 25% of their fleet. I wonder if maintenance costs will go down without a combustible engine?
Well, he’s an ex-CEO of Ford, so, cut him some slack. ;^)
The Engineering Explained guy has been driving EVs for a few years now, along with any other hot cars that tickle his fancy, and he points out that they are ideal commuter vehicles, and that an EV-only family wanting to take a vacation by car would be better off renting an ICE vehicle.
This Hertz move makes sense because most car rentals are not for that latter purpose, but for visitors to cities, which is why car rental places tend to be located next to airports.
Thanks!
Musk will pay for the “infrastructure” bill?
On paper a purely electric vehicle should be less overall maintenance... Have no idea what studies have shown, but let’s face it...its a much simpler system, at least mechanically.
Electronics is a whole other ball of wax, but saying service techs can’t handle them is a bit of a stretch... every ICE car has a myriad of sensors and computer controls that they need to service. They don’t work right, the rest of the car tends not to work right too, regardless of whether the engine burns gas or not.
I think you may be underestimating your average automotive tech these days. I have no doubt a tesla has a ton of proprietary things in their software etc, but that doesn’t mean your average tech can’t handle it... though will they have the right equipment on hand to do so? That is a legitimate question.
Exactly what I believe I said :)
Electric is a niche commuter vehicle and no doubt for most rental car uses a commuter vehicle is fine.
We will see if 25% is the right number for them.
some of us live in the woods...
some of us live several miles from major towns and highways...
some of us live in hurricane prone areas...
some of us have experienced power outages for a couple of weeks after a hurricane hits...
some of us know you can store gasoline and diesel fuel in containers to be prepared for such emergencies...
some of us know that it’s impossible to store electricity in containers for such emergencies...
some of us know that not everyone lives in an ideal location that supports solar power...
some of us know that electric vehicles aren’t suitable for everyone everywhere...
Battery-powered vehicles will have to be put on the market by car-rental companies a lot quicker than they do ICE vehicles.
Batteries start to lose capabilities for holding charges after about a year, which means that, the company will be selling those vehicles a lot sooner than their ICE cars. And, ‘re-fueling’ an EV after the battery dies, will cost 5-20 thousand dollars, if one were to want to keep that car. I’m thinking that not too many will want to buy a used EV after 3 years of usage on the battery; so, to the used-car sales lots they go, and good luck to those that purchase them.
I live in The Boonies, were we don’t have reasonable access to rentals, even via Turo. Eventually, I’ll feature in some news story about how I hadn’t been seen in some time, and my skeletonized remains were found by the can opener, with my bony hand on the last can of soup.
No one will pay for it, that’s the beauty of it, just ask AOC.
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