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Analysis-Hertz's EV sale to fan cost concerns, dampen used-car market

Electric vehicles were already considered expensive and hard to repair. Now their image could take another hit as rental giant Hertz dumps 20,000 of them, including Teslas, for gas-powered cars. Hertz, the largest U.S. fleet operator of EVs, has blamed the sale on high repair costs and weak demand for the vehicles it offers on rent. ....

United States , Akash Sriram , Scott Case , Stephen Scherr , Lynne Mcchristian , Karl Brauer , Nathan Gomes , Aditya Soni , Insurance Research , Office Of Risk Management , University Of Illinois , North America , Inflation Reduction Act , Risk Management , Stephen Scherr , Car Rental , Industry Experts , Conventional Cars , Electric Vehicles , Repair Costs ,

FOXNEWS Fox News Live June 4, 2024 21:56:00

Towards more gas powered cars to meet up with customer demands. if you look at the hertz website right now where they are selling some of these cars, some tesla s aren t listed for as low as $20000. hurts in their filing seems to indicate it comes down to money. to cost. ev s cost a lot more to repair those battery packs are extremely offensive. back in 2020 when hurts committed to buying 100,000 teslas to build up its ev fleets. but in 2022 in the beginning of 2023 the cost of tesla started to drop and now it is impacting cost for the rental car company. the hertz ceo said in an interview last week that earlier this week the demand for ev s is not happening as quickly as they expected and at a level that justifies keeping a fleet that large. hertz says the sale of these cars will bring in route ....

Customer Demands , Aren T , Battery Packs , In The Beginning , Ev Fleets , Rental Car Company ,