Tesla leasing firm in crisis after losing €41.3 million in value due to used car prices
Dutch Tesla leasing firm MisterGreen is fighting for survival after slashing 41.3 million euros from the value of its fleet in 2023, as falling used car prices triggered heavy losses and forced takeover talks, according to BNR.
MisterGreen, which owns about 4,500 cars, has reportedly already been auctioning off dozens of vehicles weekly and last year stopped paying interest to bondholders who invested more than 20 million euros through DuurzaamInvesteren, a Dutch “sustainable investing” platform.
An independent auditor refused to issue an opinion on the company’s accounts, citing a lack of information and “substantial doubt” about its ability to continue operating. “This does not necessarily mean bankruptcy,” Nyenrode University accountancy professor Marcel Pheijffer told BNR, “but the accountant clearly has serious doubts about MisterGreen’s future.”
The problems come amid weakening demand for electric cars in the Netherlands due to new road taxes, the end of subsidies, and Tesla’s reputational damage tied to CEO Elon Musk.
MisterGreen allegedly told bondholders in a recent email that it is in exclusive talks with two parties and expects to provide an update in October. If no takeover materializes, bankruptcy could follow, said insolvency lawyer Jeroen Fleers. This means that customers would likely see their lease contracts canceled, with cars returned or sold.
