Hertz dumping 20,000 EV units

[Bronclahoma]

I get a morning financial brief from Yahoo Finance and this morning they are reporting:

• Tesla (TSLA) fell 2.8% Thursday after rental car company Hertz (HTZ) said it would sell 20,000 EVs, or about a third of its fleet, and replace these cars with gas-powered vehicles. Hertz shares fell 4% on the news. In 2021, the company outlined plans to electrify its entire fleet and said it would order up to 100,000 Tesla Model 3 sedans.

‌

—Ines Ferré, Senior Reporter

Sponsored

 

[JAD67428]

The most Important part is the “ Infrastructure” that we just don’t Have !!!!

 

[Bronclahoma]

The most Important part is the “ Infrastructure” that we just don’t Have !!!!

That goes hand in hand with the range anxiety. None of them seem to get their EPA range which is interesting. I think the novelty of owning an EV has worn off as people have to live with them. For folks like us who like to prowl in wild places, they are just a no go. I've driven the Ford F150 Lightening and a Mach E GT. Both were cool to drive and quick, but I'd never consider buying one.

 

[Escape2Bronco]

I know someone whose lives 12 miles from work and has to eat lunch at the local grocery store every couple of days so he can use their supercharger. His at home is only 110v and can’t top off every night due to how slow it charges at 110. He loves it but it’s not for me.

 

[CletusVanDam]

I could get use out of an electric car at home, like for commuting, errands and whatnot.
But as a rental? When I travel, I'm generally driving and exploring a lot, mostly out in the country and an electric car would be such an inconvenience.

I think if I reserved a Hyundai compact car and they offered me a Tesla for the same price, depending on the vacation, I'd usually stick with the Hyundai (as much fun as a Tesla might be).

 

[Bronclahoma]

I could get use out of an electric car at home, like for commuting, errands and whatnot.
But as a rental? When I travel, I'm generally driving and exploring a lot, mostly out in the country and an electric car would be such an inconvenience.

I think if I reserved a Hyundai compact car and they offered me a Tesla for the same price, depending on the vacation, I'd usually stick with the Hyundai (as much fun as a Tesla might be).

A lot of rental use is related to business and a lot of time schedules are hectic and time is short. People just don't want the aggrevation of the charging process. Used car prices in general have dropped from Covid levels and I suspect Hertz will lose a considerable amount of money on their EV's. We are still not into the EV cycle far enough that lots of units are needing a new battery. Look for EV prices to drop more. Another issue is where and how to recycle those batteries.

 

[Bronclahoma]

Large European rental fleet dumping it's Teslas. Stellantis Strikes Deal With Euro Car Rental Giant Sixt After Sixt Dumps Tesla (investopedia.com)

 

[jkeaton]

Look at all those EV's in Chicago stuck at the charging stations....

 

[Major Kong]

look at all those satisfied EV owners

Sponsored