Hertz says it lost another $195M from EV bet [Yahoo! Finance]
Tesla, Inc. (TSLA)
Last tesla, inc. earnings: 4/29 04:11 pm
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Source: Yahoo! Finance
lost another $195 million last quarter in depreciation value from writing off the remaining EVs the company has held for sale. The company's total losses were $588 million, greater than Wall Street expectations. The news sent shares down more than 24% on Thursday. The stock pared some losses on Friday. In the previous quarter, Hertz announced its biggest quarterly loss since 2020 after its decision to pivot away from EVs. EV OWNER AND CAR ENTHUSIAST SAYS ALL ELECTRIC PUSH WAS ‘FOOLISH,' PREDICTS HYBRIDS WILL BE BETTER TRANSITION Hertz bet big on EVs in 2021, announcing it would invest in acquiring 100,000 Teslas to help build its EV fleet . But the rental car firm reversed course early this year due to low customer demand, saying it would unload tens of thousands of EVs and return to gas-powered vehicles. The company said Friday it plans to sell 10,000 more EVs, taking its total planned sales to 30,000 this year. Higher repair costs also weighed on the company's overall flee
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TSLA
News
- Tesla's China-made EV sales fall 18% y/y in April [Reuters]Reuters
- Exclusive-China's Nio turns to rival BYD to power new EV brand, sources say [Yahoo! Finance Canada]Yahoo! Finance Canada
- Exclusive-China's Nio turns to rival BYD to power new EV brand, sources say [Yahoo! Finance]Yahoo! Finance
- Exclusive-China's Nio turns to rival BYD to power new EV brand, sources say [Yahoo! Finance Canada]Yahoo! Finance Canada
- Exclusive: China's Nio turns to rival BYD to power new EV brand, sources say [Reuters]Reuters
TSLA
Earnings
- 4/23/24 - Beat
TSLA
Sec Filings
- 5/6/24 - Form DEFA14A
- 5/6/24 - Form PX14A6G
- 5/6/24 - Form 144
- TSLA's page on the SEC website