Article

2024-11-18 Economy

Green Nightmare: Hertz Accelerates Tesla Selloff as EV Fleet Depreciation Slams Rental Giant

[Breitbart] Rental car giant Hertz is dramatically expanding its electric vehicle selloff program, with used Tesla Model 3s now available for under $20,000 as the company grapples with mounting EV depreciation costs. Hertz’s heavy investment in Tesla EVs has been a disaster causing massive losses and the loss of its CEO.

Inside EVs reports that Hertz’s ambitious electric vehicle program has hit another significant roadblock, with the company reporting an 89 percent increase in EV depreciation costs, amounting to $537 per vehicle per month. The rental car company has committed to selling 30,000 electric vehicles from its fleet by the end of 2024, marking a stark reversal from its earlier EV adoption strategy.

The company’s current predicament stems from its bold 2021 initiative to "go green," which included plans to purchase 100,000 Tesla Model 3s. While this initial vision appeared promising, with benefits including reduced maintenance costs and strong customer interest, the strategy has since encountered numerous challenges that have forced a significant course correction.

Posted by Besoeker 2024-11-18 00:17|| || Front Page|| [11129 views ] Top

#1 Yah, was surprised to hear that Tesla stock went up due to the election. EV's are still losers no matter if you're buds with the Prez.

Posted by Mercutio 2024-11-18 10:44|| 2024-11-18 10:44|| Front Page Top

#2 Sure,mMercutio, but if Tesla is the last manufacturer left standing, they’ll get all the sales of the niche market instead of only some.

Posted by trailing wife 2024-11-18 10:55|| 2024-11-18 10:55|| Front Page Top

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