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posted by mrpg on Wednesday January 31, @04:00AM   Printer-friendly
from the but-but-but-the-fancy-brochure-said dept.

CNN Reports:

Hertz, which has made a big push into electric vehicles in recent years, has decided it's time to cut back. The company will sell off a third of its electric fleet, totaling roughly 20,000 vehicles, and use the money they bring to purchase more gasoline powered vehicles.

Electric vehicles have been hurting Hertz's financials, executives have said, because, despite costing less to maintain, they have higher damage-repair costs and, also, higher depreciation.

"[C]ollision and damage repairs on an EV can often run about twice that associated with a comparable combustion engine vehicle," Hertz CEO Stephen Scherr said in a recent analyst call.

And EV price declines in the new car market have pushed down the resale value of Hertz's used EV rental cars.

[...] For rental car companies like Hertz, which sell lots of vehicles in the used car market, depreciation has a big impact on their business, and is a major factor when deciding which cars to have in their fleets.

SoylentNews previously reported when Hertz was expanding their EV fleet.

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  • (Score: 2) by Whoever on Wednesday February 14, @03:25PM (2 children)

    by Whoever (4524) on Wednesday February 14, @03:25PM (#1344413) Journal

    I don't believe that you actually own an EV, since you would know how to find chargers if you did.

    Starting Score:    1  point
    Karma-Bonus Modifier   +1  

    Total Score:   2  
  • (Score: 2) by mcgrew on Sunday February 18, @06:34PM (1 child)

    by mcgrew (701) <> on Sunday February 18, @06:34PM (#1345060) Homepage Journal

    Here's [] a picture of me, my daughters, and my car. The two times it tried to find a charger, the first time it found a charger that required a smartphone, but my carrier had no coverage there. I wound up being towed, I probably could have made it home from where I was when it warned I was low but it was the first trip I'd taken it on and trusted it. The unusable charger was thirty miles off of the interstate.

    The second time I drove 20 miles out of my way, searching for the charger for 20 minutes on foot and discovering that its only marking was "out of order". Thankfully I had plenty of charge to get home. You can see why I don't trust that faulty database.

    • (Score: 2) by janrinok on Sunday February 18, @06:54PM

      by janrinok (52) Subscriber Badge on Sunday February 18, @06:54PM (#1345062) Journal

      Here's [] a picture of me, my daughters, and my car.

      It's a good job I was wearing my spectacles! :D

      I am not interested in knowing who people are or where they live. My interest starts and stops at our servers.