SIXT drops Tesla, buys 250,000 rental cars from Stellantis


Updated on:

After dropping Tesla, global rental car giant SIXT says it will buy up to 250,000 vehicles from Stellantis for its fleets in North America and Europe.

The multi-billion euro deal will see Stellantis delivering EVs, PHEVs (and gas cars, smh) to SIXT starting this quarter, and it will carry on over the next three years.

However, SIXT says it still plans to electrify as much as 90% of its vehicles in Europe by the end of the decade.

SIXT says it will take delivery of Stellantis brands, including “Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep, Lancia, Opel, Peugeot, Ram, Vauxhall and Maserati.” It will add “city cars to SUVs to vans and trucks (including 7- and 9-seaters)” into its rental fleet.

Konstantin Sixt, Co-CEO of SIXT, said it enables the company to accelerate its growth strategy “after already achieving global revenue growth of almost 20% in the first nine months of 2023. This ambition applies to European countries, but of course, also to the US, the largest rental market in the world and the most important growth market for our company.”

In December, SIXT announced it would cut Teslas from its fleet because Tesla’s deep price cuts undercut used car prices – an important revenue source for rental car companies. It also said that Teslas had higher repair costs compared to gas cars.

As for Stellantis, the Fiat 500e will be the first EV that it launches in the US. Stellantis has had a rough time of late, resulting in layoffs in both the US and Europe as it works to transition to electric, so this big order from SIXT is welcome news for the company. The automaker says it’s aiming to achieve 100% of sales in Europe and 50% of US sales to be battery electric vehicles by 2030.

Last week, Hertz announced it would sell off around 20,000 Teslas, citing the same reasons SIXT gave. Hertz started purchasing its Tesla fleet at peak prices, but then Tesla began to drop prices to create demand amid increasing interest rates. That resulted in the crash of the value of Hertz’s Tesla fleet.

SIXT is one of the largest car rental companies in Europe, and it has locations in over 100 countries
and more than 8,500 employees worldwide. SIXT USA has opened 100 locations in 18 states, including 30 airport locations, since 2011.

Photo: Stellantis

If you’re an electric vehicle owner, charge up your car at home with rooftop solar panels. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing on solar, check out EnergySage, a free service that makes it easy for you to go solar. They have hundreds of pre-vetted solar installers competing for your business, ensuring you get high quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use and you won’t get sales calls until you select an installer and share your phone number with them. 

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisers to help you every step of the way. Get started here. –ad*

FTC: We use income earning auto affiliate links. More.

As the race heats up to introduce more affordable electric cars, Ford is bringing on…

With the proposed investment, TICMPL has completed tying up the targeted fund raise of Rs…

After introducing new incentives, the Honda Prologue EV is now cheaper to lease than Tesla’s…