Tesla's Cost of Ownership Unveiled: Troubling Revelation for Electric Vehicles

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【Summary】Hertz's earnings report reveals higher costs on Tesla vehicles, indicating that the true cost of ownership for Teslas is higher than expected, undermining the argument that EVs save consumers money.

FutureCar Staff Nov 01, 2023 11:31 PM PT

Tesla's Cost of Ownership Unveiled: Troubling Revelation for Electric Vehicles

The earnings report from Hertz (HTZ -1.19%) had an unexpected impact on Tesla (TSLA 2.40%) this quarter. Hertz revealed that it missed estimates due to higher costs on Tesla vehicles. This news is significant because it suggests that Tesla's cost of ownership is higher than anticipated.

In a video, Travis Hoium discusses Hertz's statement and its implications for Tesla. The revelation challenges the notion that electric vehicles, particularly Teslas, will save consumers money.

Please note that the stock prices mentioned are based on end-of-day prices as of October 30, 2023. The video was published on the same date.