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Drudge Retort: The Other Side of the News
Monday, October 25, 2021

Tesla Inc (TSLA.O) on Monday neared $1 trillion in market capitalization as the company founded by Elon Musk received its biggest-ever order from Hertz, which announced plans to buy 100,000 electric rental cars.

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That's exciting. The first giant scale fleet test of rental EV.

#1 | Posted by sitzkrieg at 2021-10-25 09:57 AM | Reply

I plan too hook my electric car up to my wind turbine. It's west Texas. There's enough wind to let me drive for free.

#2 | Posted by Zed at 2021-10-25 10:17 AM | Reply

Does Tesla have the same issues with supply of chips as the other manufacturers? Since the chip issue is not likely to be resolved until 2023, this may be how Hertz is trying to skirt the issue.

#3 | Posted by Whatsleft at 2021-10-25 03:46 PM | Reply

A 4Bil purchase order from a bankrupt buyer leads to a +100B market cap add to Tesla. This is wild lol

#4 | Posted by GOnoles92 at 2021-10-25 03:51 PM | Reply | Newsworthy 2

I used to think Tesla was over-rated and that the big car manufacturers would ramp up their own models and crush Tesla on cost efficiency.
But, GM is having problems, Toyota isn't interested, the Korean's have cheaper but less appealing options, Ford has the lightning. I don't really see strong competition emerging yet. If Tesla is allowed enough time to master efficient mass production of EVs, they may dominate the ICE car makers.

I still think the stock price is silly though.

#5 | Posted by bored at 2021-10-25 04:00 PM | Reply

Expecting $300 a day rental charges and when I get to the insurance checkbox I'll politely leave and ride off on my mid-drive mountain bike into the sunset.

#6 | Posted by LesWit at 2021-10-25 04:12 PM | Reply

#5 | POSTED BY BORED AT 2021-10-25 04:00 PM | FLAG:

Porsche, BMW, Mercedes, Audi, VW. The Porsche Taycan outsells the Model S. The truck has to go head to head with the Big 3 that already make really nice hybrids. The roaster price class is up there with Maybach, Bugatti, Ferrari, Hennessy and crazy emerging brands like Rimac.

Tesla's sales are dominated by the Model 3. The problem is still the economy of scale for it, losing money on every sale and leaning on credits, fundraising, and crypto speculation to keep the lights on. Cost efficiency slowly improved over time but their craftsmanship is still sorely lacking. As you noted the companies not rushing into that market, this is why. Their stock doesn't work like Tesla stock.

#7 | Posted by sitzkrieg at 2021-10-25 05:00 PM | Reply

Tesla's sales are dominated by the Model 3. The problem is still the economy of scale for it, losing money on every sale and leaning on credits, fundraising, and crypto speculation to keep the lights on. Cost efficiency slowly improved over time but their craftsmanship is still sorely lacking. As you noted the companies not rushing into that market, this is why. Their stock doesn't work like Tesla stock.

#7 | Posted by sitzkrieg

Your talking points are outdated.

They dont lose money on every car.
They're profitable even without credits.
Tesla doesnt care about selling a lot of model Ss.
And their biggest seller is the model Y.

Redo your work and try again.

#8 | Posted by SpeakSoftly at 2021-10-25 06:33 PM | Reply

Yay for Elon. Good for him.

Tesla is old news now.

I am just waiting for my new all electric Ford F150 Lightening to roll off the assembly line.

#9 | Posted by donnerboy at 2021-10-25 09:55 PM | Reply

"Lightning" ...

#10 | Posted by donnerboy at 2021-10-25 09:56 PM | Reply

Ah heck. Here's the link ...

www.ford.com

#11 | Posted by donnerboy at 2021-10-25 09:57 PM | Reply

A 4Bil purchase order from a bankrupt buyer leads to a +100B market cap add to Tesla. This is wild lol

#4 | POSTED BY GONOLES92 AT 2021-10-25 03:51 PM | FLAG:

$80 billion net worth increase for Musk on a $4 billion PO with no vehicles delivered. The man has a gift. The only time they turned a profit without credits was crypto speculation, and they keep cannibalizing their own model sales which is insane. Coin trading has become the most unique way to fund critical capex needed for quality improvements, factory expansion, service expansion, etc, in automotive history. It'll be a lot more interesting to see the quarterlies now that they're relocating HQ out of California and leaving Fremont running for at least the near term.

#12 | Posted by sitzkrieg at 2021-10-26 08:00 AM | Reply

great, and where TF will people outside of large cities charge them? And what will Hertz rent them for...$200 a day? Stupid.

#13 | Posted by e1g1 at 2021-10-26 10:01 AM | Reply

"and where TF will people outside of large cities charge them?"

Where TF do they rent a car in the first place?

#14 | Posted by snoofy at 2021-10-26 10:03 AM | Reply | Funny: 2

great, and where TF will people outside of large cities charge them? And what will Hertz rent them for...$200 a day? Stupid.

#13 | POSTED BY E1G1 AT 2021-10-26 10:01 AM | FLAG:

Buccee's.

and "it depends". It's a $42k car. They're not buying the high margin software upgrades like FSD beta & launch mode. With deals and a several day rental you could see sub $200 rates. Hell right now it's $300/day from Hertz for a high trim level Nissan Pathfinder that's similar to a new Model 3's price. Shop it hard and the savings will be there.

#15 | Posted by sitzkrieg at 2021-10-26 10:19 AM | Reply

"and where TF will people outside of large cities charge them?"

Seriously? That's got to be one of the stupidest questions I've seen in a while.

I don't know if you've noticed, but virtually everywhere in the US has electricity. It's almost universal.

Where do I charge my car? In my driveway. For years I charged from a 120V outdoor outlet, this year I upgraded to 204V because the local utility was offering a $400 rebate to install a 240V EVSE, I was less than $100 out of pocket to put it in.

Tesla has 25k superchargers. Teslas can also use just about any other public charger too. They're everywhere. www.plugshare.com

(No, I don't have a Tesla, and my next car is probably going to be a Mustang. Yes, the only Mustang that I care about is the electric one.)

#16 | Posted by DarkVader at 2021-10-26 11:43 AM | Reply

and they keep cannibalizing their own model sales which is insane.

#12 | Posted by sitzkrieg

It's "insane" to focus on selling tons of affordable cars instead of a few unaffordable cars?

Glad I'm not in business with you.

#17 | Posted by SpeakSoftly at 2021-10-26 12:53 PM | Reply

How much will Hertz gouge people when they return the car on empty?

#18 | Posted by GOnoles92 at 2021-10-26 08:20 PM | Reply

Tesla is old news now.

#9 | POSTED BY DONNERBOY AT 2021-10-25 09:55 PM | FLAG:

Just to refresh on this one for one of the former God-King Elon Fanbois that loved him until he red pilled =P

Tesla is now worth more than the entire automotive industry combined. The fact that the entire rest of the industry's stock hasn't collapsed is irrelevant. The fact that they're the lowest revenue Trillion Dollar Company in history doesn't matter. The battery swap scam, the bad quality, vaporware, flipping off the NHTSA and SEC, none of that matters. Stonks to $2000 next.

#19 | Posted by sitzkrieg at 2021-10-27 10:16 AM | Reply

"Tesla is now worth more than the entire automotive industry combined."

Then they should do like AOL did and buy a real company.

#20 | Posted by snoofy at 2021-10-27 10:25 AM | Reply | Newsworthy 1

A 4Bil purchase order from a bankrupt buyer leads to a +100B market cap add to Tesla. This is wild lol

#4 | POSTED BY GONOLES92 AT 2021-10-25 03:51 PM | FLAG:

$80 billion net worth increase for Musk on a $4 billion PO with no vehicles delivered. The man has a gift.

He could sell a ketchup popsicle to a woman wearing white gloves on a hundred degree day.

How soon until he cashes out some of his holdings, right before Hertz cancels the order?

I've seen stock price manipulation schemes before and this screams of it.

Must need $$$$ for another rocket ride to space financed by Dotards tax scam which promised tax cuts would lead to great jobs for everyone.

#21 | Posted by Nixon at 2021-10-27 10:44 AM | Reply

Other way around. SpaceX burns private investment to fly government contracts on what is projected to be well below the real cost. We The People get a deal here. It's the private investors that are really on the hook if it doesn't live up to the scale expectations.

#22 | Posted by sitzkrieg at 2021-10-27 10:55 AM | Reply

financed by Dotards tax scam which promised tax cuts would lead to great jobs for everyone.

#21 | POSTED BY NIXON AT 2021-10-27 10:44 AM | FLAG:

Speaking of tax scams and cuts, that's what this deal is built on. The House reconciliation bill has a 30% tax credit for qualified commercial electric vehicles, which would include these EV rentals. Hertz saves $1.26 billion. Half of the order is appropriated to Uber through Hertz so Uber meets its state corporate climate mandates. That is a huge handout to a company that runs on $1.7 billion annual receivables.

#23 | Posted by sitzkrieg at 2021-10-27 01:57 PM | Reply

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