Hertz Orders 100,000 Teslas Worth $4.2B

October 25, 2021

On Monday October 25th, Hertz announced their intention to purchase 100,000 Teslas, worth an estimated $4.2B to electrify their rental car fleet. The company partnered with Tom Brady to announce the launch.

As you may remember, Hertz nearly went bankrupt earlier in 2021 as the rental car company sold off its fleet in an attempt to stay solvent. Now, the company, on the other side of bankruptcy is betting big on electric vehicles.

With their order from Tesla, Hertz’ rental car fleet will now be 20% electric vehicles globally. Hertz is also investing to install thousands of EV chargers nationwide. Hertz customers that rent a Tesla Model 3 will have access to Tesla’s supercharging network, however Tesla Supercharger Idle Fees are not included in Hertz rental car payments.

Hertz first introduced EVs in their rental car fleet in 2011. They were the first rental car company to add EVs to their fleet.

The Tesla Model 3 Standard Range Plus costs $41,990. This suggests that Hertz has paid near list price for their 100,000 vehicle order. This doesn’t come as too much of a surprise as we expect all manufacturers will increase their base MSRP for the next model year because of myriad production issues. If Hertz did pay 2021 MSRP for their order that may actually represent a significant discount relative to the price increase we expect to see next year for the Model 3.

Hertz has also now recently announced deals with Carvana and Uber to provide short-term leases of their Tesla fleet as well as to sell them once Hertz is done with them. More on that here:

COVERAGE YOU CAN TRUST

CarEdge Extended Warranty

Peace of mind without the markup.
Flexible terms & pricing.
Coverage details

 

Discover the right insurance for you

Compare different providers with no spam phone calls:

Call us 855.786.1144

M-F: 8AM – 9PM EST
Sat: 10AM – 6PM EST

Save more with CarEdge+

CarEdge+ Membership pays for itself for all things auto.

Unlimited access to CarEdge car buying tools, our team of Auto Experts, savings on maintenance, and repairs, and more.

Join CarEdge+
Learn More

Join CarEdge for Free

Get instant access to members-only resources.

We'll email you updates
Or, we can text you
Hidden
Subscribe to receive:

Consultations

$50 per 15-minute live session

Chat with a CarEdge Auto Expert to make sure you’re negotiating a fair deal.

  • Connect live on video or call.
  • Get live advice on any part of the buying process.
  • Ask us anything about your journey.

CarEdge Coach

$99 one-time

Partner with a dedicated coach to help you save thousands on your car deal.

  • Your coach will guide and assist through your journey.
  • Access to all premium resources, like Deal School 3.0, email templates and market pricing!
  • Learn how to buy a car with leverage and confidence.

CarEdge Concierge

$999 one-time

A dedicated concierge to handle all aspects of your car deal for you.

  • Concierge handles all communication with the dealer.
  • We negotiate the selling price, trade in, financing, warranties and insurance.
  • We listen, do the leg work and secure your deal.

Auto insights. Right in your inbox.

We'll email you updates
Or, we can text you
Hidden
Subscribe to receive:

Get the latest trends and money-saving strategies, once a week.

We'll email you updates
Or, we can text you
Hidden
Subscribe to receive:

Related articles

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *

Share This