LOL.
Because of low demand and high repair costs, Hertz Global Holdings Inc. will sell 20,000 electric vehicles (EV), one-third of its EV fleet.
Everyone laugh: LOLOLOLOL!
In 2021, Hertz announced it would buy 100,000 Tesla vehicles.
In February, the White House gushed over Hertz committing to EV cars: “Hertz’s objective is to make one-quarter of its fleet electric by the end of 2024.”
Hertz and BP wanted to build a bunch of charging stations in major cities:
The charging hubs will serve rideshare and taxi drivers, car rental customers and the general public at high-demand locations, such as airports. A number of installations are expected to include large-scale charging hubs, known as “gigahubs.” bp aims to invest $1 billion in EV charging in the US by 2030.
One year later…nope.
Hertz and everyone else had to know this would not work. You mean you couldn’t tell no one wanted to rent EVs?
Go woke, and you waste a ton of money:
Hertz will record a non-cash charge in its fourth-quarter results of about $245 million related to incremental net depreciation expense.The dramatic about-face, after Hertz announced plans in 2021 to buy 100,000 Tesla Inc. vehicles, underscores the waning demand for all-electric cars in the US. EV sales growth slowed sharply over the course of 2023, rising just 1.3% in the final quarter as consumers were put off by high costs and interest rates.“The elevated costs associated with EVs persisted,” Hertz Chief Executive Officer Stephen Scherr said in an interview. “Efforts to wrestle it down proved to be more challenging.”
Playing ignorant only makes you look worse, dude. Everyone knows the cost of the cars and maintaining them.
The best part? Hertz wants to use the money it gets from selling the EVs to buy gasoline vehicles!
Crying: “The company expects this action to better balance supply against expected demand of EVs.”
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