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Hertz to sell off one-third of its EVs, replace with gas cars
Posted on 1/11/24 at 4:52 pm
Posted on 1/11/24 at 4:52 pm
quote:
Hertz will sell off one-third of its electric vehicles and will replace some of its global fleet with gas-powered cars, driven by higher costs and soft demand.
The decision to sell off 20,000 EVs came as the cost of repairs for its EV fleet, mostly made up of Teslas, has been higher than expected, coupled with lower demand.
The company, which plans to purchase gas cars from some EV sales, started selling off EVs in December. Hertz mentioned in the Thursday FEC filing the recognition of “approximately $245 million of incremental net depreciation expense related to the sale.”
The decision from the rental car giant comes as the global CEO Stephen Scherr said in October that the company is cooling off its EV rollout with high repair costs and high allocation of its vehicles to Uber drivers.
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Posted on 1/11/24 at 4:52 pm to jatilen
Shocking
Posted on 1/11/24 at 4:55 pm to jatilen
You hate to see it…
Posted on 1/11/24 at 4:58 pm to jatilen
Who the heck is dumb enough to buy a used EV?
Posted on 1/11/24 at 5:06 pm to TurkeyBaconLeg
quote:
Who the heck is dumb enough to buy a used EV?
That depends on how cheap Hertz dumping them for and if you can apply any EV tax credits to purchasing a used EV.
I would "buy" one if it was basically free.
Posted on 1/11/24 at 5:23 pm to jatilen
They know the replacement costs for those rare earth material batteries.... 
Posted on 1/11/24 at 6:02 pm to jatilen
quote:
“approximately $245 million of incremental net depreciation expense related to the sale.”
20,000 vehicles.
$12,500 per EV.
Posted on 1/11/24 at 6:04 pm to jatilen
Posted on 1/11/24 at 6:20 pm to tigerfan 64
I mean no person with a IQ above 20 could not have seen this coming.
Posted on 1/11/24 at 6:21 pm to TurkeyBaconLeg
quote:
Who the heck is dumb enough to buy a used EV?
Liberals
Posted on 1/11/24 at 6:37 pm to jatilen
Finna be a massive used EV market that they won't even be able to give away fast enough.
Don't know who could've possibly seen this coming. Well, except for the "ignorant science-denying redneck conservatives" who predicted this many years ago.
Don't know who could've possibly seen this coming. Well, except for the "ignorant science-denying redneck conservatives" who predicted this many years ago.
Posted on 1/11/24 at 6:39 pm to Warboo
quote:
I mean no person with a IQ above 20 could not have seen this coming.
I can see how an EV can work for some lifestyles but rental cars definitely doesn't seem like the niche that it was ever going to fill
Posted on 1/11/24 at 6:42 pm to jatilen
quote:
Hertz mentioned in the Thursday FEC filing the recognition of “approximately $245 million of incremental net depreciation expense related to the sale.”
Ouch.
Posted on 1/11/24 at 7:12 pm to jatilen
Posted on 1/11/24 at 7:17 pm to TerryDawg03
We rented a car in Utah during a visit before moving here. They only had teslas left.
Had to take it back because there were no charging stations convenient to our travel area.
Had to take it back because there were no charging stations convenient to our travel area.
This post was edited on 1/11/24 at 7:18 pm
Posted on 1/11/24 at 10:26 pm to tigerfan 64
quote:
quote:
“approximately $245 million of incremental net depreciation expense related to the sale.”
20,000 vehicles.
$12,500 per EV.
Sounds about right.
Anyone paying the least little bit of attention can clearly see that the EV scam is being exposed in a big way.
Problem is that very few people are paying any attention. They are just lapping up whatever their phone/tablet is feeding them from the propaganda machine known as the US gooberment.
Posted on 1/11/24 at 10:29 pm to tiggerfan02 2021
Consumers aren't always smart. EVs only make sense for some people. For over 50% of the population they're not practical. They're best used as a second vehicle for someone that lives in a single family home. That's pretty much it.
Posted on 1/11/24 at 11:01 pm to jatilen
Who could’ve ever predicted such a thing?
Posted on 1/11/24 at 11:02 pm to jatilen
I said the same in the bus thread.
The cost to operate and maintain seems negligible. Especially when you have to factor in total replacement down the road.
The cost to operate and maintain seems negligible. Especially when you have to factor in total replacement down the road.
This post was edited on 1/11/24 at 11:03 pm
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