Tesla's High Ownership Costs: Troubling for Electric Vehicles

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【Summary】Hertz's earnings report reveals higher costs on Tesla vehicles, suggesting that Tesla's true cost of ownership is higher than expected, challenging the notion that EVs save consumers money.

FutureCar Staff Nov 01, 2023 6:16 AM PT

Tesla's High Ownership Costs: Troubling for Electric Vehicles

The earnings report from Hertz (HTZ -2.09%) revealed some surprising news this quarter, particularly for Tesla (TSLA 1.76%). Unlike previous reports, Hertz announced that it had missed estimates due to higher-than-expected costs on Tesla vehicles.

In a video by Travis Hoium, he discusses the implications of Hertz's statement and why it suggests that Tesla's cost of ownership is higher than initially anticipated. This revelation poses a challenge to the argument that electric vehicles (EVs), specifically Teslas, will ultimately save consumers money.

It is important to note that the stock prices mentioned in this article reflect the end-of-day prices on October 30, 2023. The video itself was published on the same day.