The earnings report from Hertz (HTZ 1.19%) wouldn’t normally break any news for a company like Tesla (TSLA -0.80%), but that wasn’t the case this quarter. It was Hertz that said it missed estimates because costs are higher than expected on Tesla vehicles.
In this video, Travis Hoium covers what Hertz said and why it means Tesla’s cost of ownership is higher than expected. This isn’t good for the argument that EVs, and specifically Teslas, are going to save consumers money.
*Stock prices used were end-of-day prices of Oct. 30, 2023. The video was published on Oct. 30, 2023.
Travis Hoium has positions in General Motors. The Motley Fool has positions in and recommends Tesla. The Motley Fool recommends General Motors and Stellantis and recommends the following options: long January 2025 $25 calls on General Motors. The Motley Fool has a disclosure policy. Travis Hoium is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.