Hertz is dumping 20, 000 EVs because customers prefer gasoline powered cars and the cost of repairs is higher than gasoline autos (ICE).

They are going to buy ICE vehicles to replace them. 

A Bloomberg posting titled  “Hertz to Sell 20,000 EVs in Shift Back to Gas-Powered Cars” relates:

“The sales of 20,000 EVs began last month and will continue over the course of 2024, the rental giant said Thursday in a regulatory filing. Hertz will record a non-cash charge in its fourth-quarter results of about $245 million related to incremental net depreciation expense.

The dramatic about-face, after Hertz announced plans in 2021 to buy 100,000 Tesla Inc. vehicles, underscores the waning demand for all-electric cars in the US. EV sales growth slowed sharply over the course of 2023, rising just 1.3% in the final quarter as consumers were put off by high costs and interest rates.”

Just more evidence that the general population do not want the EV. 

cbdakota