"The news comes as the electric vehicle (EV) maker looks for new ways to head off further declines in U.S. sales following the expiration of its federal tax credits, and comes amid continued backlash against the company for CEO Elon Musk's role in the U.S. government, coupled with growing competition in the EV market. Those federal EV tax credits of up to $7,500 expired on October 1, after President Donald Trump signed his One Big Beautiful Bill Act (OBBBA) into law."
"Shares of Tesla, Inc. ( Nasdaq: TSLA) were trading up over 4% in midday trading on Monday. Shares of rental car company Hertz Global Holdings, Inc. ( HTZ) were down nearly 3% at the time of this writing in the aftermath of its recent quarterly earnings report. The car rental giant had purchased a fleet of Teslas to increase its EV offerings, but has been selling them as demand decreased, along with resale value."
Tesla has launched short-term rentals in San Diego and Costa Mesa, offering three- to seven-day rentals starting at $60 per day. Tesla will rent, not lease, vehicles and plans to expand to additional U.S. locations beginning this month. Each rental includes the option for supervised Full Self-Driving and Supercharging at no extra cost, and buyers who purchase within a week receive a $250 credit. The program aims to counter falling U.S. sales after federal EV tax credits of up to $7,500 expired on October 1. Tesla shares rose over 4% midday while Hertz shares fell nearly 3% amid weakening demand and resale value for its Teslas.
Read at Fast Company
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