Tesla Inc. (NASDAQ:TSLA) has emerged as the leading electric vehicle (EV) brand among U.S. fleet companies.
Tesla’s vehicles constituted nearly one-third of all EV fleet purchases over the past 13 months, as per a report by S&P Global. This dominance in the fleet market can be attributed to Tesla’s unmatched EV production volumes.
The Tesla Model 3, in particular, has been the most preferred EV model for fleet use, as reflected in its high registration numbers. The Model 3 is central to Tesla’s ongoing deal with Hertz, which involves the supply of 100,000 units to the rental car company.
See Also: Lucid’s New Referral Program Takes A Page From Tesla’s Playbook: Details Here
Notably, fleet sales of EVs tend to follow certain buying cycles. For instance, Tesla sold more than 13,500 Model 3s into fleets in December 2022 and January 2023 combined, with sizable sales also occurring in July and October 2022.
Other brands such as Chevrolet and Hyundai are also witnessing increased fleet sales. The Chevrolet Bolt, for example, has experienced significant year-over-year increases in its fleet sales in 2023.
Offering EVs as rentals is becoming increasingly popular among rental fleet firms, providing customers with a unique opportunity to experience the EV lifestyle before purchasing an EV of their own.
Read Next: Is A Tesla Model 3 ‘Sport’ Variant Coming? What A Hacker’s ‘Random Findings’ Reveal
Photo by Hadrian on Shutterstock
Engineered by
Benzinga Neuro, Edited by
Pooja Rajkumari
The GPT-4-based Benzinga Neuro content generation system exploits the
extensive Benzinga Ecosystem, including native data, APIs, and more to
create comprehensive and timely stories for you.
Learn more.
