Hertz got their noses out of joint because Tesla wouldn't give them a bulk buy discount and made them wait in line like everybody else in an overheated market. The when car sales came back to normal Tesla dropped all their prices to maintain market share and Hertz took a bath on resale values (along with retail customers). The other problem was that many people hiring Teslas were driving them like they were stolen. That isn't a problem isolated to Teslas but was made worse by their higher than average performance causing excessive tyre wear, other maintenance problems and accidents. So now they are getting rid of them, its a bit short sighted in my view but the bean counters have spoken so out they go.
LYC Price at posting:
$6.38 Sentiment: Hold Disclosure: Held
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