Rental car giant Hertz plans to sell off some 20,000 of its electric vehicles (EVs), representing about a third of its battery-powered fleet in the U.S.

Hertz executives cited higher repair costs for collision damage than for other vehicles in the fleet, including specialized tools and technicians, along with low customer demand. It seems the company was counting on renting the EVs at a higher price than for its gasoline vehicles, too, and that lack of extra profit affects the bottom line.

Estimates are that Hertz could free up as much as US$300 million by 2025 by selling off the EVs and eliminating the cost of maintaining them. It also didn’t help that Tesla slashed its prices in the U.S., which raised Hertz’s depreciation costs on the vehicles. Hertz isn’t getting out of EVs entirely – this represents only a third of its fleet – but it seems even Tom Brady couldn’t put in enough of a plug to convince enough people to rent a car that needs to be plugged in.

Grave Error: How The Media Misled Us

Canadian academic and author Dr. Tom Flanagan discusses the false media narrative of 'unmarked graves' at a former Kamloops residential school. Tom's new book, Grave Error: How The Media Misled Us (and the Truth about Residential Schools), is a call to reason against the moral panic unleashed on May 27, 2021.

Buy the book "Grave Error" by Dr. Tom Flanagan

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