Tesla Maintains Strong Lead As Preferred EV Brand For US Fleet Businesses: Report

Tesla Inc. TSLA has emerged as the leading electric vehicle (EV) brand among U.S. fleet companies.

Tesla’s vehicles constituted nearly one-third of all EV fleet purchases over the past 13 months, as per a report by S&P Global. This dominance in the fleet market can be attributed to Tesla’s unmatched EV production volumes.

The Tesla Model 3, in particular, has been the most preferred EV model for fleet use, as reflected in its high registration numbers. The Model 3 is central to Tesla’s ongoing deal with Hertz, which involves the supply of 100,000 units to the rental car company.

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Notably, fleet sales of EVs tend to follow certain buying cycles. For instance, Tesla sold more than 13,500 Model 3s into fleets in December 2022 and January 2023 combined, with sizable sales also occurring in July and October 2022.

Other brands such as Chevrolet and Hyundai are also witnessing increased fleet sales. The Chevrolet Bolt, for example, has experienced significant year-over-year increases in its fleet sales in 2023.

Offering EVs as rentals is becoming increasingly popular among rental fleet firms, providing customers with a unique opportunity to experience the EV lifestyle before purchasing an EV of their own.

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