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Tesla loses another fleet customer due to price cuts and value fluctuation

Credit: @Gf4Tesla/Twitter

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Tesla is losing yet another fleet customer due to price cuts and value fluctuation, as SAP said today that the changes are too much of a risk due to wiping out resale values.

Tesla has lost some of its large fleets, including Hertz, which announced it would be eliminating a large number of EVs from its rental inventory and selling them off, and SIXT, a German rental company.

Credit: Hertz

SIXT is getting rid of Tesla altogether, trading them in for Stellantis EVs, it announced in January.

Now, the SAP, which has 29,000 vehicles in its fleet, appears to be doing the same, according to a report from Handelsblatt, a German media outlet. SAP said that Tesla’s price fluctuations are becoming a risk to the value of the fleet while noting that the company’s need to change prices to remain competitive and help with demand is understandable.

SAP said it would remove Tesla from its list of company car suppliers.

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Steffen Krautwasser, the Fleet Manager at SAP, explained the choice to Handelsblatt:

“The list prices fluctuate more at Tesla than at other manufacturers, which makes planning more difficult and poses a higher risk for us. From Tesla’s perspective, this is understandable, but it causes problems for us.”

Varying Decisions

Hertz’s main concern with EVs in its most recent Earnings Report indicated that demand for EVs was lower than expected. It was also struggling with higher-than-expected repair costs, which cut into its adjusted corporate EBITDA.

Hertz said:

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“It is expected that the planned reduction in the EV fleet and reinvestment in additional ICE vehicles will improve Adjusted Corporate EBITDA across 2024, as vehicles are rotated, and in 2025, by which time all of the vehicles included in this plan are expected to be sold.”

Meanwhile, SIXT’s reasoning was similar to that of SAP. Price cuts across Tesla’s lineup hurt the resale value of the fleet altogether. SIXT is still investing in EV rentals, but it is avoiding Tesla specifically due to the uncertainty with pricing across its vehicle lineup.

Tesla Price Adjustments

Tesla’s price adjustment were frequent in early 2023, but they have slowed down considerably since. Although the most recent price adjustment took effect this morning on the Model 3, this is the first in the U.S. in some time.

However, Tesla did adjust the prices of the Model Y in Germany and Sweden in mid-January. In Germany, all the prices were reduced, which is great for consumers, but tough for companies that have bought a large number of units.

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I’d love to hear from you! If you have any comments, concerns, or questions, please email me at joey@teslarati.com. You can also reach me on Twitter @KlenderJoey, or if you have news tips, you can email us at tips@teslarati.com.

Joey has been a journalist covering electric mobility at TESLARATI since August 2019. In his spare time, Joey is playing golf, watching MMA, or cheering on any of his favorite sports teams, including the Baltimore Ravens and Orioles, Miami Heat, Washington Capitals, and Penn State Nittany Lions. You can get in touch with joey at joey@teslarati.com. He is also on X @KlenderJoey. If you're looking for great Tesla accessories, check out shop.teslarati.com

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Tesla Semi expands pilot program to Texas logistics firm: here’s what they said

Mone said the Tesla Semi it put into its fleet for this test recorded 1.64 kWh per mile efficiency, beating Tesla’s official 1.7 kWh per mile target and delivering a massive leap over conventional diesel trucks.

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Credit: Mone Transport

Tesla has expanded its Semi pilot program to a new region, as it has made it to Texas to be tested by logistics from Mone Transport. With the Semi entering production this year, Tesla is getting even more valuable data regarding the vehicle and its efficiency, which will help companies cut expenditures.

Mone Transport operates in Texas and on the Southern border, and it specializes in cross-border U.S.-Mexico freight operations. After completing some rigorous testing, Mone shared public results, which stand out when compared to efficiency metrics offered by diesel vehicles.

“Mone Transport recently had the opportunity to put the Tesla Semi to the test, and we’re thrilled with the results! Over 4,700 miles of operations at 1.64 kWh/mile in our Texas operation. We’re committed to providing zero-emission transportation to our customers!” the company said in a post on X.

Mone said the Tesla Semi it put into its fleet for this test recorded 1.64 kWh per mile efficiency, beating Tesla’s official 1.7 kWh per mile target and delivering a massive leap over conventional diesel trucks.

Comparable Class 8 diesel semis, typically achieving 6-7 miles per gallon, consume roughly 5.5 kWh per mile in energy-equivalent terms, meaning the Semi uses three to four times less energy while also producing zero tailpipe emissions.

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Tesla Semi undergoes major redesign as dedicated factory preps for deliveries

The performance of the Tesla Semi in Mone Transport’s testing aligns with data from other participants in the pilot program. ArcBest’s ABF Freight Division logged 4,494 miles over three weeks in 2025, averaging 1.55 kWh per mile across varied routes, including a grueling 7,200-foot Donner Pass climb. The truck “generally matched the performance of its diesel counterparts,” the carrier said.

PepsiCo, which operates the largest known Semi fleet, recorded 1.7 kWh per mile in North American Council for Freight Efficiency testing. Additional pilots showed similar gains: DHL hit 1.72 kWh per mile, and Saia achieved 1.73 kWh per mile.

These metrics underscore the Semi’s ability to slash operating costs through superior efficiency, lower maintenance, and zero-emission operation. As charging infrastructure scales and production ramps toward 2026 targets, participants like Mone Transport are proving electric semis can seamlessly integrate into freight networks, accelerating the industry’s shift to sustainable, high-performance trucking.

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Tesla continues to prep for a more widespread presence of the Semi in the coming months as it recently launched the first public Semi Megacharger site in Los Angeles. It is working on building out infrastructure for regional runs on the West Coast initially, with plans to expand this to the other end of the country in the coming years.

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SpaceX weighs Nasdaq listing as company explores early index entry: report

The company is reportedly seeking early inclusion in the Nasdaq-100 index.

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Credit: SpaceX/X

Elon Musk’s SpaceX is reportedly leaning toward listing its shares on the Nasdaq for a potential initial public offering (IPO) that could become the largest in history. 

As per a recent report, the company is reportedly seeking early inclusion in the Nasdaq-100 index. The update was reported by Reuters, citing people familiar with the matter.

According to the publication, SpaceX is considering Nasdaq as the venue for its eventual IPO, though the New York Stock Exchange is also competing for the listing. Neither exchange has reportedly been informed of a final decision.

Reuters has previously reported that SpaceX could pursue an IPO as early as June, though the company’s plans could still change.

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One of the publication’s sources also suggested that SpaceX is targeting a valuation of about $1.75 trillion for its IPO. At that level, the company would rank among the largest publicly traded firms in the United States by market capitalization.

Nasdaq has proposed a rule change that could accelerate the inclusion of newly listed megacap companies into the Nasdaq-100 index.

Under the proposed “Fast Entry” rule, a newly listed company could qualify for the index in less than a month if its market capitalization ranks among the top 40 companies already included in the Nasdaq-100.

If SpaceX is successful in achieving its target valuation of $1.75 trillion, it would become the sixth-largest company by market value in the United States, at least based on recent share prices. 

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Newly listed companies typically have to wait up to a year before becoming eligible for major indexes such as the Nasdaq-100 or S&P 500.

Inclusion in a major index can significantly broaden a company’s shareholder base because many institutional investors purchase shares through index-tracking funds.

According to Reuters, Nasdaq’s proposed fast-track rule is partly intended to attract highly valued private companies such as SpaceX, OpenAI, and Anthropic to list on the exchange.

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Elon Musk

The Boring Company’s Prufrock-2 emerges after completing new Vegas Loop tunnel

The new tunnel measures 2.28 miles, making it the company’s longest single Vegas Loop tunnel to date.

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Credit: The Boring Company/X

The Boring Company announced that its Prufrock-2 tunnel boring machine (TBM) has completed another Vegas Loop tunnel in Las Vegas. The company shared the update in a post on social media platform X.

According to The Boring Company’s post, the new tunnel measures 2.28 miles, making it the company’s longest single Vegas Loop tunnel to date.

The new tunnel marks the fourth tunnel constructed near Westgate Las Vegas as the Vegas Loop network continues expanding across the city.

The Boring Company also noted that the new tunnel surpassed its previous internal record of 2.26 miles for a single Vegas Loop segment.

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Construction of the tunnel involved moving roughly 68,000 cubic yards of dirt. The excavation process also used about 4.8 miles of continuous conveyor belt, powered by six motors totaling 825 horsepower.

The Boring Company’s Prufrock-series all-electric tunnel boring machines are designed to support the rapid expansion of company’s underground transportation projects, including the growing Vegas Loop network. Prufrock machines are designed for reusability, thanks in no small part to their capability to be deployed and retrieved easily through their “porposing” feature.

The Vegas Loop, specifically the Las Vegas Convention Center (LVCC) Loop segment, has already been used during major events. Most recently, the LVCC Loop supported the 2026 CONEXPO-CON/AGG construction trade show, which was held from March 3-7, 2026. 

As per The Boring Company, the LVCC Loop transported roughly 82,000 passengers across the convention center campus during the event’s duration. 

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CONEXPO-CON/AGG is one of the largest construction trade shows in North America, drawing more than 140,000 construction professionals from 128 countries this year.

The LVCC Loop forms the initial segment of the broader Vegas Loop network, which remains under active development as The Boring Company continues building new tunnels throughout the city.

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