Tesla Maintains Strong Lead As Preferred EV Brand For US Fleet Businesses: Report
Portfolio Pulse from Benzinga Neuro
Tesla Inc. (NASDAQ:TSLA) remains the leading electric vehicle (EV) brand among U.S. fleet companies, with its vehicles making up nearly one-third of all EV fleet purchases over the past 13 months, according to a report by S&P Global. The Tesla Model 3 has been the most preferred EV model for fleet use, central to Tesla's ongoing deal with Hertz. Other brands like Chevrolet and Hyundai are also seeing increased fleet sales.
October 27, 2023 | 9:26 am
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Tesla's dominance in the EV fleet market, particularly with the Model 3, is likely to continue supporting its stock price in the short term.
Tesla's strong position in the EV fleet market, with nearly one-third of all EV fleet purchases, indicates a high demand for its vehicles. This, coupled with the ongoing deal with Hertz for the supply of Model 3s, is likely to have a positive impact on Tesla's revenues and, consequently, its stock price in the short term.
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