Hertz Car Rental is selling about 20,000 electric vehicles, including Teslas, from its U.S. fleet about two years after a deal with the automaker to offer its vehicles for rent, according to Reuters.
Rental giant Hertz dumps EVs
"CEO Stephen Scherr had last year at the JPMorgan Auto Conference flagged headwinds from higher expenses for its EVs, particularly Teslas."
Hertz can expect around $245 million in charges related to depreciation expenses from the EV sale in the fourth quarter of 2023.
USED-EV PRICES DROP
Used-EV prices fell for most of 2023 as prices for new electric vehicles fell and inventories of electric vehicles rose, according to Cox Automotive data. This could be an indication that people in U.S. are not buying electric cars.
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