According to reports, Hertz Global Holdings, one of the world's largest car rental companies, has just emerged from bankruptcy protection for four months.Ordered 100000 electric vehicles from Tesla, Inc. a few days ago..

The total price reachesThe order of about $4.2 billion has become the largest deal in the history of electric vehicles.And lock in about 10% of Tesla, Inc. 's annual production capacity..

In particular, Hertz broke with tradition in the selection and purchase of vehicles. Unlike traditional car rental companies, Hertz does not choose to buy large quantities of low-end models with high discounts.Bought a large number of Tesla, Inc. with better configuration at full price..

The bankrupt tycoon expects Nirvana to be reborn.

In May 2020, the pioneer of car rental, which has been built since Ford produced the Model T, applied to the court for bankruptcy protection under the impact of COVID-19 's epidemic.

Against the backdrop of the COVID-19 crisis fading, the world economy rebounding and the number of tourists rising this year, the consortium led by Knighthead Capital Management and Certares Management injected $5.9 billion into Hertz, enabling Hertz to shake off more than $5 billion in debt and return to the car rental market.

It is worth mentioning that this year's high global demand for used cars superimposed a shortage of cars caused by supply chain disruptions, helping Hertz instead. Before filing for bankruptcy, Hertz, which has more than 650000 cars around the world, could benefit from the sale of used cars and resolve some of the financial crisis.

Jonathan Smoke, chief economist of Cox Automotive, has previously said:

"these crises are not a problem for car rental companies, including Hertz, because when they sell cars, they are actually making money from these transactions."

On June 30th, 2021, Hertz officially extricated itself from the bankruptcy crisis. Four months later, the leasing giant opened the road to electrification with a high profile of $4.2 billion.

According to reports,These 100000 Tesla, Inc. will be delivered in the next 14 months and will help Hertz build the largest fleet of electric car rentals in North America.. Starting from the beginning of November, Tesla, Inc. 's Model 3 will be rented out in Hertz stores in the United States and in some parts of Europe. Hertz also said that the rental Tesla, Inc. can use not only Tesla, Inc. 's network of supercharging stations, but also the company's own charging facilities in the future.

The electrification plan, which will eventually cover 500000 Hertz cars and trucks around the world, is the company's first major plan since it emerged from bankruptcy in June.. The plan also shows that the leasing giant is quite optimistic about new energy vehicles.

Hertz thinksTesla, Inc. is expected to attract users who want to taste fresh electric cars and environmentalists.. At the same time, compared to fuel carsElectric vehicles have lower maintenance costs and higher preservation rates in the second-hand market this year..

The used car market is hot and model3 is very popular.

According to the latest research from iSeecars, a market research companyUsed Tesla, Inc. Model 3 is now the best-selling used car in the United States, and its price is sometimes even higher than that of new cars..

Because of the supply chain crisis and the tax subsidy policy of the United States, Model3 is very popular in the secondary market. As can be seen from the above table, second-hand Model 3 takes an average of only 16 days to close a transaction, which is about half of the industry average and nearly four days faster than Mitsubishi Outlander, which ranks second.

Wall Street has analyzed it before.The price increase of used cars in the United States is more based on the relationship between supply and demand.. In terms of used cars, which dominate the US consumer market, new cars from American car rental companies are generally sold as used cars in a year's time (or less). In 2020, the COVID-19 epidemic forced car rental companies to cut back on new car purchases, resulting in a sharp drop in the number of used cars entering the market. In terms of new cars, the shortage of chips has limited the progress of new car manufacturing, which forces some consumers of urgent cars to choose used cars, and the prices of some quasi-new cars entering the used car market are even higher than when buying new cars.

Although the ultra-high growth rate on the basis of economic restart and social openness is not sustainable, the supply gap in the US car market cannot be made up in the short term. Accordingly, the impact of rising used-car prices on inflation is unlikely to be temporary.

From this point of view, Hertz, who spends a lot of money and makes a high-profile comeback, may have opened his own road to Nirvana.