Car-rental company Sixt cites lower resale value as the reason behind phasing out Tesla EVs
- Car-rental company Sixt is phasing out Tesla EVs from its fleet
- Lower resale value and higher repair costs are the reasons behind the decision
- Sixt plans to electrify 90% of its fleet in Europe by the end of the decade
- Hertz Global Holdings Inc. also cited similar concerns about rental Teslas
- Tesla shares traded lower on Monday, down about 4% in the past three months
Car-rental company Sixt is phasing out Tesla Inc.’s EVs from its fleet due to lower resale value and higher repair costs, according to Bloomberg. Sixt plans to electrify as much as 90% of its fleet in Europe by the end of the decade. This decision comes after U.S. car rental company Hertz Global Holdings Inc. expressed similar concerns about its rental Teslas. Tesla shares traded lower on Monday, down about 4% in the past three months.
Factuality Level: 7
Factuality Justification: The article provides information from Bloomberg as a source, which adds credibility. However, it lacks specific details and evidence to support the claims made about Tesla’s EVs having lower resale value and higher repair costs. The article also includes some unnecessary information about Tesla’s stock performance, which is tangential to the main topic.
Noise Level: 3
Noise Justification: The article provides relevant information about Sixt phasing out Tesla EVs from its fleet due to lower resale value and higher repair costs. It also mentions similar concerns from Hertz. However, the article lacks in-depth analysis, evidence, and actionable insights.
Financial Relevance: Yes
Financial Markets Impacted: Car rental companies and Tesla Inc.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article discusses the decision of car-rental company Sixt to phase out Tesla EVs from its fleet due to lower resale value and higher repair costs. This decision could impact the financial performance of both Sixt and Tesla, as well as the perception of Tesla’s EVs in the market.
Public Companies: Sixt (SIX2), Tesla Inc. (TSLA), Hertz Global Holdings Inc. (HTZ)
Key People:
Reported publicly:
www.marketwatch.com 
