Yahoo Finance automotive correspondent Pras Subramanian examines Tesla's choice to raise the price of its Model Y while Ford holds steady with the pricing of its Mustang Mach E after its recent price drop.
Hertz's fleet in the Americas peaked at 428,700 vehicles for the year ended Dec. 31, 2022, of which 11% were Tesla cars, the filing showed. The company had an additional 1,187 Teslas in its international fleet. Hertz's decision to bolster its fleet with Teslas had briefly helped the EV maker hit $1 trillion in market value in 2021.
Several U.S.-based electric vehicle (EV) stocks were sliding Tuesday morning as investors balance increasing competition against growth initiatives. Rivian Automotive (NASDAQ: RIVN), Lucid Group (NASDAQ: LCID), and specialty EV maker Canoo (NASDAQ: GOEV) all sank between about 7% and 8% in early trading. Rivian confirmed it was expanding its product line to include electric bikes, reports Bloomberg.