Sixt:Fleet
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January 16, 2023: Sixt signed a multi-billion euro deal with Stellantis for purchase of 250,000 vehicles by 2026 that will be use in North America and Europe.The first significant delivery volumes will occur in the first quarter of 2024 and will continue throughout the year. Sixt said that the specific quanties, order compositions and delivery dates beyond 2024 can be flexibly agreed between the two companies as per fleet requirements and demand. Deliveries will include several vehicle classes from SUVs to vans and trucks (including 7- and 9-seaters), as well as all drive types including BEVs. The two companies will also explose potential cooperation in other areas such as Mobilisights and Stellantis’ data as a service (DaaS) business[1]. Assessment: The significant delivery volumes for 2024 could indicate that Sixt expects a strong demand in the current year given that they were cautious last year with regard to fleet purchasing in 2024[2].
December 4, 2023: Sixt is currently phasing out Tesla Models in its fleet due to their declining resale values, according to a report by Focus Online. “We would like to inform you that we are currently not acquiring any more Tesla vehicles. In addition, we are currently reducing the number of Tesla vehicles in our rental car fleet,” Focus Online quoted an email sent by Sixt to its customers. According to Focus Online, Tesla models don’t have buy-back agreements that eliminate residual value risk. Also, fluctuating prices of Tesla Models make it hard to forecast residual value. Sixt doesn’t indicate the number of Tesla models it has but it’s reported to be well under 5,000 globally[3].
References
- ↑ https://about.sixt.com/en/sixt-and-stellantis-reach-agreement-for-the-purchase-of-up-to-250000-vehicles-laying-the-foundation-for-further-global-expansion/
- ↑ https://forum.investmentwiki.org/t/q2-2023-sixt-earnings/157/3
- ↑ https://www.electrive.com/2023/12/01/sixt-says-goodbye-to-the-teslas-in-its-fleet/