Did Hertz buy Tesla's?
Did Hertz buy Tesla's? Article continues after video. In 2021, Hertz placed the largest-ever vehicle order when it bought 100,000 Tesla Model 3's for the sum of about $4.2 billion, skyrocketing Tesla's value to $1 trillion, according to Bloomberg.
What happened with Tesla and Hertz?
In short, the declining value of the Tesla cars in Hertz's fleet—a decline directly caused by Musk's price cuts—has hit Hertz squarely in its profits. The fact that this is happening to Hertz of all companies is ironic, as the rental agency is not just any customer of Musk.