Hertz has announced that it will sell off roughly 30%, or 20,000 vehicles, of its EV fleet. The move came after it announced a scale-back from its original goal of electrifying 25% of the rental fleet. Hertz's original goal was to acquire 100,000 Tesla and 65,000 from Polesta...
In April, iSeeCarsreportedthat all four of Tesla's models are among the fastest-selling used EVs, with three of its cars in the top four slots. "With an average price of $37,644, the fastest-selling used electric vehicles are $20,000 cheaper than the fast...
In March, following the announcement that the company would be selling off much of its fleet,former Hertz CEO Stephen Scherr stepped down from the company. Scherr was succeeded by Gil West, the former COO of Delta Airlines and General Motors (GM) self-driving division, Cruise. What are your...
In April, iSeeCarsreportedthat all four of Tesla’s models are among the fastest-selling used EVs, with three of its cars in the top four slots. “With an average price of $37,644, the fastest-selling used electric vehicles are $20,000 cheaper than the fastest-selling new EVs,” ...
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Last month,Hertz started selling some of its Tesla inventoryoff, ahead of the company’s filing stating that it was looking to slash its EV fleet. Hertz is set to report its earnings on Tuesday. At the time of writing, neither Hertz nor Polestar has responded toTeslarati’srequests for com...
The offloading of those EVs will cut the company’sglobal EV fleetby roughly one-third, Hertz said in a filing with the Securities and Exchange Commission. The rental car giant said it would allocate funds it gets from selling the vehicles toward purchasing moreinternal combustion engine vehicles...
Hertz expands its EV fleet in Q1 2023 On the company’s Q1 earnings call, Scherr said Hertz had about 50,000 EVs in its fleet at the end of the quarter. Scherr says electric cars represent roughly 10% of its total car fleet right now as it continues to expand its zero-emission ...
Two and a half years later, the brand is selling off many of those EVs at perilously low prices, and the stock is trading at just 20 percent of its 2021 high. That is the sort of outcome that suggests a huge gamble did not pay off, and as a result, CEO Stephen Scherr is ...
Hertz Global Holdings’ move to cut its electric vehicle fleet by a third—a bad sign for makers of the cars—highlights the different strategies of Hertz and its most important rival, Avis Budget Group. In a securities filing early Thursday, Hertz said it would be selling about 20,000 vehi...