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Hertz to buy 100,000 Tesla cars as rental car company pivots toward electric vehicles

Having survived a brush with death, Hertz is aiming for an electric rebirth.

The rental car company, which filed for Chapter 11 bankruptcy protection early in the COVID-19 pandemic, announced Monday that it plans to buy 100,000 cars from Tesla by the end of 2022 in a pivot toward electric vehicles.

It is among the largest electric vehicle orders ever placed, matching the 100,000 electric vans that Amazon has ordered from startup Rivian. The deal is worth about $4.2 billion, estimated Wedbush Securities analyst Dan Ives.

Hertz also plans to install thousands of electric vehicle charging stations at its locations.

►Which is more expensive?: Charging an electric vehicle or fueling a car with gas?

►’It’s just draining’: Homebuyers frustrated by a cutthroat housing market are putting their searches on hold

The moves represent the largest investment by a rental car agency in technology widely considered the future of the

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7 Auto Stocks to Buy as Price Relief Might Not Arrive Soon

It’s perhaps the most hated bull market in America that seemingly defies all expectations (and desires to be honest). Following the severe disruption of the novel coronavirus pandemic, several markets went haywire to the upside, including most conspicuously the used-car sector. But with media reports stating that wholesale prices for secondhand vehicles have been moving lower from their highs, this boded poorly for auto stocks.

Until, that is, the situation started boding positively again for auto stocks. What gives? Another false-positive? In this particular case, seemingly contrasting events are actually both true. As CNN pointed out, lower wholesale prices may not translate to lower consumer costs because dealerships these days rely less on wholesale and more on directly acquiring inventory from private sellers.

More critically, the semiconductor crisis that has resulted in an ongoing computer chip shortage that frustratingly ebbs and flows has contributed to production shortages. In a

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Should you buy a used electric car? 5 things you need to know

When you’re heading out to buy a new car, you always have to ask yourself whether you want to buy one that’s used or brand new. That’s still true if you’re thinking about picking up an electric car.

But, as similar as electric cars are to their gas-powered cousins, they’re not exactly the same. And when you’re buying a used car it always pays to know what you’re looking for. 

When I was looking at cars earlier this year, my dad left me with this pearl of wisdom: “Why would you want to buy a car someone else doesn’t want anymore?”

My dad’s vendetta aside, the used car market is huge for the simple reason that used cars are cheaper, and have become much more reliable so that the risk of purchasing a money pit is a lot less. 

The cost of new EVs is still much higher than

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The 15 Best Leased Cars to Buy Now and Sell for a Profit

  • A car leased three years ago is worth way more now at the end of its lease than was predicted.
  • The humble Volkswagen Tiguan leads the list with a 61.3% increase.
  • But the Camaro is worth $12,346 more in cash.

    Yes, these are weird times we’re living in. You can’t find a rental car because rental companies sold them all off during last year’s pandemic. You can’t get a new or even a used car because all the chips required to make them go are being put into Sony PS5s. And good luck finding a new car for sticker price even on the least-desirable brand’s lot. But one thing that could be put in the plus category right now is leased cars. Once your three-year lease is up, keep the car and sell it, because that may be one of the most surefire ways to make money during this

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