Rental car company Hertz continues to sell off its electric vehicles (EVs) after announcing a major shift away from its initial electrification strategy. As a part of the sale, some of the company’s EVs, both Tesla and otherwise, have been slashed to industry-low prices, and Hertz now say...
In a recent announcement, Hertz, the rental car giant, revealed its plans to sell approximately 20,000 electric vehicles (EVs) from its fleet. This move sent shockwaves through the automotive industry, particularly because a significant portion of Hertz's EVs are Tesla models. The decision to ...
CEO Stephen Scherr said in late October last year that electric vehicles were approximately 11% of its overall pool of vehicles. Its global fleet averaged 590,000 vehicles – including ICEs and EVs – in the third quarter, according to the company’s chief financial officer. TESLA ROLLS OUT U...
Hertz to sell 10,000 more EVs than planned, and stock suffers record plunge Apr. 25, 2024 at 11:09 a.m. ETby Tomi Kilgore EV stocks suffer broad losses, after Hertz boosts EV-sales plan Apr. 25, 2024 at 10:12 a.m. ETby Tomi Kilgore ...
Hertz is the latest automotive giant to feel the sting of an early investment in EVs not going to plan immediately. For the rental car giant, the biggest issues were low demand from renters and high repair costs from suppliers. That led the company to announce plans to sell 20,000 of its...
On the plus side, Hertz has plenty of EVs that it's motivated to sell at what it calls no-haggle prices. "Our EVs can be found nationwide in most major metros and averaging around $25,000," said a Hertz spokesperson in an email. All of the Hertz-certi...
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...
On the plus side, Hertz has plenty of EVs that it's motivated to sell at what it calls no-haggle prices. "Our EVs can be found nationwide in most major metros and averaging around $25,000," said a Hertz spokesperson in an email. All of the Hertz-certified vehicles are given a 115...
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And so, A, we need to sell these cars, and we're on pace to do that at or around where our mark was at December 31. Two, we need to capture the cost savings through EBITDA and realize the cash flow that we've laid out to go get. And third, we need to make a constant ...