Hertz Buying 100K Teslas for Rental Fleet

By the end of next year, electric vehicles will make up more than 20 percent of Hertz's global fleet.

Oct. 27, 2021—Hertz is purchasing 100,000 Tesla Model 3’s for its rental fleet, NPR reported.

By the end of next year, electric vehicles will make up more than 20 percent of Hertz's global fleet, the report states. Rentals will start as soon as next month. 

Bloomberg reported that Hertz would be paying approximately full price for the Teslas, citing descriptions of the total value of the transaction from sources familiar with the matter.

Hamzah Mazari, who tracks the rental car industry for Jefferies, told NPR the move carries some risks for Hertz, like the cost of investing in charging infrastructure. But it could bring big rewards, especially if it allows the rental company to charge higher prices and still attract customers.

"Electric vehicles are now mainstream, and we've only just begun to see rising global demand and interest," Hertz interim CEO Mark Fields said in a statement.

About the Author

FenderBender Staff Reporters

The FenderBender staff reporters have nearly four decades of combined journalism and collision repair experience.

Subscribe to our Newsletters

Latest in Latest News

AVTECC/C-BEN
AVTECC/C-BEN Logo
The Competency-Based Education Network and International Advanced Vehicle Technology Education and Credentialing Coalition are working together to design, scale, and tailor programs...
June 13, 2025
CIC
CIC Philly Logo
The next conference is on July 23 in Philadelphia. Planned discussions include related processes, procedures, inter-segment relations, decision-making aspects and notifications...
June 12, 2025
CECA
Contra Costa College accepts a $25,000 donation to its collision engineering program from CSAA insurance group.
The donation to the Collision Engineering Career Alliance bridges classroom learning with industry practice for aspiring collision repair technicians at Contra Costa College.
June 12, 2025