Hertz is introducing Tesla Model S and Roadster rechargeable cars at Los Angeles and San Francisco airports, the Park Ridge, New Jersey-based company said yesterday. Hertz has five Teslas combined at the two airports, with rental prices starting at about $500 a day, Paula Rivera, a Hertz spokeswoman, said in an e-mail.
The Tesla models expand on a lineup of higher-priced vehicles that Hertz has added to its fleet under its Dream Cars program, which includes Ferrari and Lamborghini models. In July, Hertz won final regulatory approval for its $2.3 billion acquisition of Dollar Thrifty Automotive Group Inc. The merged companies compete with closely held Enterprise Holdings Inc. and Avis Budget Group Inc. (CAR:US)
Tesla has seen its market value top $20 billion this year. The Palo Alto, California-based company is intent on becoming the world’s most profitable seller of battery-powered cars. The company plans this year to deliver 21,000 of its flagship Model S sedans, priced from about $70,000, and double that volume next year as sales in Europe and Asia expand.
Enterprise has carried three Tesla Model S cars in its Exotic Car Collection fleet since June and plans to add two more by the end of the year, Greg Phillips, a spokesman for the St. Louis-based company, said in an e-mail. The cars rent for about $300 to $500 per day, he said.
Hertz separately today reduced its full-year forecast for full-year revenue and profit, citing weaker than anticipated car rentals at U.S. airports. Shares plunged 16 percent to $21.63 at the close in New York, the biggest one-day decline in more than four years.
Hertz now sees 2013 revenue of $10.8 billion to $10.9 billion, down from a February estimate of $10.85 billion to $10.95 billion. The company pared its forecast for adjusted profit of $780 million to $830 million, down from $830 million to $875 million.
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