In what is a very damaging statement to the electric vehicle industry, Hertz is dumping 1/3rd of their electric cars in a serious way. They are selling them at a steep discount far beyond that of the other used car resellers, with some estimates at up to 30% off. This is after Hertz made plans to move to be a strong force in the EV market, but they admitted that higher than expected repair costs, and lower demand for EVs are pushing this decision. The ripples may take a while to play out, but this lack of support from a major car rental company will not be unnoticed by the general public that is also wavering in the long term prospects of electric cars.
Hertz is selling off a third of its electric vehicle fleet, which is predominantly made up of Teslas, and will buy gas cars with some of the money it