Kyte will soon offer a rented Tesla Model 3 as it jumps into the rising EV rental services. For the past few years, car rental companies have experienced massive growth.
A Tesla vehicle is seen at a dealership on January 03, 2019 in Miami, Florida. Tesla Inc. shares have fallen as the company reported fourth-quarter Model 3 deliveries just below estimates and said it would lower the price of its cars.
Many people now prefer renting a car that they can use for their getaways and other out-of-town activities. Various automakers and other companies started their own renting programs.
Since renting seems to have more advantages than leasing cars, renting a vehicle requires simpler but less commitment.
Kyte To Offer Rented Tesla Model 3
According to Electrek's latest report, this move was already made by another rental company called Autonomy.
Tesla cars are displayed at a showroom in the Meatpacking district in Manhattan on June 6, 2018 in New York City. Tesla stock had its best day since November 2015 on Wednesday rising more than 9.5 percent after the company revealed it is nearing its Model 3 weekly production rate. Also, in a vote shareholders backed Elon Musk as chairman and CEO.
Also Read: Tesla Model Y Sales in China Increase 4x Last Feb 2022 | Model 3 Decreased?
The new startup previously announced that it purchased around 100 Tesla Model 3 units, which are expected to increase by 10,000 by the end of 2022.
Kyte also announced that it would add Tesla Model 3 to its rising rental car fleets.
"This rollout of Kyte's latest offering is the next milestone in a series of impressive successes by the California-based company and will eventually be available in all of Kyte's current 14 markets," said the on-demand car rental firm.
However, the exact number of Tesla Model 3 units is not confirmed. The only information announced by Kyte regarding its EV purchase is the $200 million financings, which will be used for the rented EV fleet.
Kyte's Rental Tesla Model 3 Inclusions
Kyte explained that once consumers avail of its Tesla Model 3 rental service, they will also have insurance, registration, roadside assistance, and maintenance.
These benefits are expected to make Kyte's customers' EV rental experience better than other companies. The on-demand rental company will specifically offer the Tesla Model 3 Long Range AWD model.
Because of this, the monthly subscription fee can be quite expensive ($995/month). If you rent a Tesla Model 3 for more than three months, the fee will be cheaper:
- 6 Months ($1,125)
- 3 Months ($1,350)
If you want to know more details about Kyte's new Tesla Model 3 rental service, you can visit this link.
On Mar. 10, the prices of Tesla Model 3 and Model Y increased as the nickel price hike continued.
On the other hand, Tesla Model Y and Model 3 were included in California's top 5 selling cars in 2021.
For more news updates about Kyte's Tesla rental service and other related car topics, always keep your tabs open here at TechTimes.
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Written by: Griffin Davis
