Oops! Hertz Rental Cars purchased too many Tesla vehicles for its rental fleet. This could be a great benefit to consumers as Hertz is selling Tesla vehicles at a deep discount price.
In total, Hertz seeks to sell 30,000 Tesla vehicles, immediately. Because Hertz is unloading a ton of inventory into the used car sales market, you could purchase a slightly-used Tesla at a greatly discounted price.
Beginning in January 2024, Hertz has been selling Tesla vehicles for an average price of $25,000.00. These are generally low mileage vehicles that have been well maintained. Two reasons account for the discount offered by Hertz: (1) Hertz ordered too many Tesla vehicles for its rental inventory; and (2) Expenses for repairs and damage are too high.
Hertz has noted a slump in the consumer demand for energy-friendly vehicles. Prices for electric vehicles plunged nearly 32% from March 2023 to March 2024. Per, ISeeCars.com, prices for Tesla dropped 29%, during the same time period.
Tesla itself has also cut prices on new Tesla vehicles. Specifically, Model Y, S and X, have seen recent price drops. Approximate price drops are between $2,000.00 and $5,000.00 on these models. The price drops resulted from a significant drop in the Tesla stock price. Tesla stock has dropped nearly 40% in 2024, amid reduced sales and more competition in the electric vehicle market.
Once the Federal Tax Credit, Musk claims the cost of an entry-level Tesla is as low as $29,490.00.
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