SIXT drops Tesla, buys 250,000 rental cars from Stellantis
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
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Honda’s electric SUV took the US by storm, becoming the top-selling EV in the US outside of Tesla in the final three months of 2024. This year, Honda is making the Prologue even more attractive, upgrading it with over 300 miles of range. With 2025 Prologue models now arriving at dealerships, Honda wasted no time launching new deals this week.
2025 Honda Prologue EV deals and offers
After the first models were delivered last March, the Honda Prologue quickly became one of the best-selling electric vehicles in the US.
In the second half of 2024, the Prologue was the second best-selling electric SUV, trailing only the Tesla Model Y. This year, it boasts even more driving range and power.
Since Honda didn’t raise prices, it’s essentially a free upgrade (well, sort of). The 2025 Honda Prologue (2WD) now has a “top-class” EPA rating of 308 miles, up 12 miles from the outgoing model. It also packs 220 horsepower (+8) and 243 lb-ft of torque (+7).
The Prologue is still available in single-motor (2WD) and dual-motor (AWD) versions in three trims: EX, Touring, and Elite.
The AWD version now has a range of 294 miles (+13) for the EX and Touring trims and 283 miles (+10) for the Elite. It also now packs 300 horsepower (+12) and 355 lb-ft of torque (+25).
With DC fast charging speeds of up to 150 kW, the electric SUV can add 65 miles of range in around 10 minutes.
The 2025 Honda Prologue starts at $47,400, but with the $7,500 EV tax credit, prices could fall to under $40,000. And that’s for the EX single-motor version with up to 308 miles of range.
On Honda’s website, the 2025 Prologue is listed with a promotional rate of 2.99% APR for up to 60 months. Lease prices for the base model are not yet available, but the 2025 AWD EX is listed at $599 for 36 months with $4,299 due at signing.
Although the deals on the 2025 models are not nearly as good as the 0% financing and leases as low as $269 per month for the 2024 Prologue, Honda had to make up for the upgrades somewhere.
| Trim | Drive Configuration | Pricing | EPA Ratings | |||
| MSRP | After Federal EV Tax Credit | Plus $1,450 D&H |
Range Rating | MPGe Rating (City/Hwy/Combined) |
||
| EX | Single Motor (2WD) | $47,400 | $39,900 | $41,350 | 308 | 113 / 94 / 104 |
| EX | Dual Motor (AWD) | $50,400 | $42,900 | $44,350 | 294 | 108 / 90 / 99 |
| Touring | Single Motor (2WD) | $51,700 | $44,200 | $45,650 | 308 | 113 / 94 / 104 |
| Touring | Dual Motor (AWD) | $54,700 | $47,200 | $48,650 | 294 | 108 / 90 / 99 |
| Elite | Dual Motor (AWD) | $57,900 | $50,400 | $51,850 | 283 | 104 / 87 / 95 |
Honda is sweetening the deal with a charging package included in the Prologue’s price. You can choose from a free Level 2 home charger, a portable charging kit, or a $750 public charging credit.
The 2024 Honda Prologue is selling out fast with ultra-low lease and financing rates, while the 2025 model promises even more. Ready to try it out for yourself? You can use our link to find deals on the 2024 and 2025 Honda Prologue in your area today.
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In this photo illustration, the logo for the US tech firm “Block” is displayed and reflected in a number of digital screens on March 03, 2023 in London, England.
Leon Neal | Getty Images
With its stock down more than 30% this year and revenue growth slowing, Jack Dorsey’s Block is going bigger in lending.
The company on Thursday said it secured approval from the Federal Deposit Insurance Corporation to originate loans through its banking subsidiary, Square Financial Services, allowing it to offer small-dollar consumer loans directly rather than relying on external banking partners.
It’s an expansion of Cash App Borrow, the company’s short-term lending product. But it comes at a time of increased concerns surrounding consumer credit, with President Trump’s expansive tariffs and widespread government job cuts raising talk of a potential recession.
Transaction losses in Block’s lending segment jumped 39% last quarter, and while the company claims its underwriting model is strong, small-dollar lending is inherently risky.
“Cash App Borrow is designed to provide short-term cash flow in a simple and accessible way when alternatives are notoriously expensive and difficult for consumers to navigate,” Block said in the press release. The company added that the average Cash App Borrow loan was under $100 and about a month in duration.
Block didn’t immediately provide a comment.
In getting approval to operate the lending business out of its own bank, Block says it will be able to offer the product nationwide.
Last month, Block reported quarterly results that missed Wall Street expectations, with revenue growing just 4.5% from a year earlier. The stock plunged 18%, its worst one-day drop since 2020.
Around the same time, Block rolled out Afterpay, its buy now, pay later product, on the Cash App card. Chief Financial Officer Amrita Ahuja told CNBC that the launch aimed to provide customers with more credit options, and positioned Cash App as a banking alternative for some customers. Block acquired Afterpay, which competes with Affirm, for $29 billion in early 2022.
Also this week, Block announced a big investment plan in artificial intelligence.
The company said on Wednesday that it will deploy Nvidia’s AI systems with its latest Blackwell chips to power open-source AI research. Block didn’t say what specifically it’s looking to achieve through its AI buildout, but noted in the press release that it will “start exploring novel solutions for our customers.”
![Kia's first electric van looks even better in person [Video]](https://i0.wp.com/electrek.co/wp-content/uploads/sites/3/2025/03/Kias-first-electric-van-PV5-1.jpeg?resize=1200,628&quality=82&strip=all&ssl=1)
Kia is launching its first electric van, the PV5, later this year. If you liked how it looked in pictures, wait until you see it in real life. A production PV5 was spotted in Korea for the first time, giving us a closer look at the futuristic van. See it for yourself in the video below.
Kia’s first electric van spotted in Korea
After teasing it for what seemed like forever, Kia finally took the sheets off the PV5 at its 2025 EV Day event last month.
With its hard-to-miss futuristic design, the PV5 is a near replica of the concept shown at CES last January. The mid-size electric van is set to kick off Kia’s new Platform Beyond Vehicle (PBV) strategy.
The PV5 will initially be available in Passenger, Cargo, and Chassis Cab setups, but with “unprecedented flexibility,” you can expect to see more options soon. Two of the first will be the PV5 Crew, with additional cargo securing options and a Wheelchair-Accessible Vehicle (WAV) version.
After that, Kia will follow it up with Drop Side, Box Van, Freezer, Box, and Prime variations. It plans to launch a Light Camper conversion.
With sales kicking off in the second half of 2025, Kia’s electric van was spotted in Korea for the first time without camouflage. A new video from HealerTV gives us a better idea of what to expect when the PV5 hits dealerships later this year.
The PV5 maintains its techy, almost ahead-of-its-time design. Two exterior body colors were shown: white and a darker grey or black. As the reporter notes, it actually looks like an upgrade from the concept.
Kia did what it could at the back so it didn’t look like a bus, giving it more of a rounded overall shape. You can see how it stands apart from most MPVs you see today.
Like the Volkswagen ID.Buzz, Kia’s PV5 looks more like a minibus. At 4,695 mm long, 1,895 mm wide, and 1,899 mm tall, Kia’s passenger electric van is slightly smaller than the European ID.Buzz model (4,712 mm long, 1,985 mm wide, 1,937 mm tall).
It will be available with 51.5 kWh and 71.2 kWh battery packs, good for up to 400 km (249 miles) WLTP range. The PV5 can also fast charge (10% to 80%) in about 30 minutes. In comparison, powered by an 84 kWh battery, the ID.Buzz now offers up to 293 miles WLTP range.
Kia will launch sales in Korea and Europe later this year, followed by other global markets in 2026. Pre-orders will open soon, so check back for prices.
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