Hertz (NASDAQ: HTZ) reported its earnings for the first quarter of 2024 today, announcing that it is continuing to lose money on its electric vehicle investment and plans to dump even more EVs from its fleet. Hertz said it had increased the number of EVs it will let go of by 10,000 units, now planning […]
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More than 1,200 EVs are cheap enough to qualify for the used clean vehicle tax credit.
Hertz CEO Stephen Scherr has decided to step down following the rental firm’s big bet on Tesla and other EVs went awry, as the debacle cost the company big. Hertz announced on Friday that Scherr would leave his post as CEO and a member of the Board of Directors on March 31. He will be […]
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Rental car company Hertz recently announced plans to slow down its electrification strategy by selling off some electric vehicles (EVs), and now the company has halted its plans to purchase EVs from the Polestar. After a filing last month revealed the decision from Hertz to cut its EV fleet by around 20,000 vehicles, the rental […]
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It’s the kind of headline EV boosters hate, and EV boo-birds trumpet: just two years after announcing that it would buy 100,000 Teslas and a raft of other EVs, rental giant Hertz announced that it would sell 20,000 of its Teslas and replace them with tried-and-true gas-guzzlers (at this writing, the company is offering around… Read more »
Hertz announced on Thursday in a regulatory filing with the SEC that it has made a “strategic decision” to slash its electric vehicle fleet by 20,000 vehicles. In the filing, Hertz said the figure is roughly one-third of its global EV fleet. “These vehicle dispositions, which were initiated in December 2023 and are expected to […]
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The rental car company will replace them with gasoline-powered vehicles.
Hertz is selling off some of its Tesla models that were formerly rentals, and the vehicles are currently available at some pretty low prices. As part of the Rent2Buy vehicle sales program on its website, Hertz has listed hundreds of its early Tesla rentals for sale at fairly low prices. The vast majority of the […]
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Former Ford CEO Mark Fields believes the toughest part of the electric vehicle story is coming. Fields is currently the CEO of Hertz, a rental agency that reported a tough earnings call last week as the company pointed at EVs as the reason for its tumultuous quarter. Tesla price cuts hinder Hertz earnings as it […]
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Tesla’s price cuts throughout the third quarter provided challenges for rental company Hertz (NASDAQ: HTZ), who adopted the electric automaker’s vehicles in 2021 for its fleet. The swings in pricing hindered Hertz’s Q3 earnings report, as it missed profit estimates. Hertz said it would slow down EV adoption while it learns to manage costs, CEO […]
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