Tesla falls on the stock market after Elon Musk tweeted about no contract with Hertz
Tesla's stock lost around 4% on Tuesday, November 2, 2021. REUTERS - ARND WIEGMANN
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1 min
Electric car maker Tesla's price fell 4% on Tuesday after another tweet from boss Elon Musk.
The recent announcement of the lessor Hertz on an order placed with the Californian group had caused a stir on the New York Stock Exchange, pushing the title of Tesla up to 1,208 dollars.
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It was by responding to a tweet displaying a graph of phenomenal progress of his business, that Elon Musk caused panic in the market.
"
If this is based on Hertz, I would like to point out that no contract has been signed yet,
" replied the boss of Tesla.
And to add that Hertz will not benefit from any discount when purchasing these vehicles.
"
Tesla has more demand than production,
" Elon Musk tweeted.
This is why we will only sell cars to Hertz for the same margin as the one we apply to our customers,
”he said.
The rental company's announcement sent Tesla flying off Wall Street last week.
The company had joined the very small club of groups worth more than $ 1,000 billion on the stock market, such as Apple, Microsoft, Google and Amazon.
One order, but no delivery schedule
It is true that Hertz had not specified having signed a contract, merely indicating that it had placed "
an initial order of 100,000 Teslas by the end of 2022
", without mentioning a delivery schedule.
On Tuesday, Hertz communications director Lauren Luster said "
Teslas deliveries have already started
."
“
We are seeing strong initial demand for Teslas within our rental vehicle fleet, which reflects market demand for Tesla vehicles
,” she said.
You're welcome!
If any of this is based on Hertz, I'd like to emphasize that no contract has been signed yet.
Tesla has far more demand than production, therefore we will only sell cars to Hertz for the same margin as to consumers.
Hertz deal has zero effect on our economics.
- Elon Musk (@elonmusk) November 2, 2021
► To read also: Automobile: an electric model at the top of the European best sales for September
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