The rental giant's big bet on EVs, which included buying 100,000 Teslas, led to pricey repairs and poor resale prices.
According to reports, due to the drop in the price of Tesla electric vehicles, the resale value of a large number of Tesla electric vehicles purchased by Hertz Rent-a-Car also fell, causing the company to lose a lot.The translation is provided by third-party software. The above content ...
Hertz falls on mounting losses from failed bet on Tesla EVs Hertz Global Holdings Inc. tumbled after the company reported a worse-than-expected loss stemming from the rental-car company’sfailed betonelectric vehiclesand heavy depreciation costs that have pummeled earnings for the past year....
It was not a surprise to auto industry analyst John Healy of Northcoast Research that Hertz is the first among the small group of major rental car companies to place a big bet on EVs. After an era of industry consolidation, the three companies represent as much as 95% of the ca...