Hertz is selling a massive chunk of its electric-vehicle fleet, it said Thursday, citing higher repair costs.
The company plans to sell 20,000 cars, or about one-third of its electric fleet, which includes Teslas, Chevrolet Bolts, Volvos, and more. Many are already up for sale online — some at a steep discount, as is usual when rental firms dispose of vehicles.
In a filing on the decision, Hertz said repair costs were a factor in its decision.
“While direct operating expenses per transaction day, excluding collision and damage, will be flat for the quarter and down for the year, expenses related to collision and damage, primarily associated with EVs, remained high in the quarter, thereby supporting the Company’s decision to initiate the material reduction in the EV fleet,” the company said.
www.businessinsider.com/hertz-sells-ev-electric-vehicle-fleet-cites-repair-costs-2024-1
This move by Hertz will flood the used car market with EVs and those who paid too much will be underwater on their loans forever.
Expect prices listed here to go lower – waaay lower, as the market gets saturated with these inferior vehicular products pushed by mentally ill leftists who are programmed to be convinced the sky is falling.
Check the pricing!
www.hertzcarsales.com/used-electric-vehicles.htm?geoZip=94102&geoRadius=0&sortBy=internetPrice%20asc
Ex-Hertz Tesla Model 3s Cost as Little as $14,000. Would You Buy One?
That’s around a third of the price of a new Tesla Model 3.
Hertz is offloading used Tesla Model 3s from its fleet at a deep discount. They may be former rentals, but they’re cheap enough that you have to ask yourself—would you buy one for $14,000?
Hertz initially ordered 100,000 cars from Tesla, but has since pushed back its EV adoption for a multitude of reasons. The company blamed high repair costs and recent price cuts on new Teslas for the decision in an earnings call reported by CNBC. It’s possible that the arrival of the 2024 Model 3’s “Highland” facelift may also have pushed Hertz to liquidate. In fact, Hertz is already offloading excess Teslas, sometimes for less than half what they cost new.
Available cars can be found in Hertz’s Rent2Buy portal, which have been listed for as low as $17,800 according to a screenshot published on Electrek. Accounting for the $4,000 federal tax credit available for used EVs, that takes the net cost down to $13,800.
www.thedrive.com/news/ex-hertz-tesla-model-3s-cost-as-little-as-14000-would-you-buy-one
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