I think hertz was also seeing lower than expected demand for their EVs so, cost aside, the assets were idle. It is normal to jettison excess inventory periodically. Undoubtedly they reserved for this so once the new year clicked they can unload the inventory with little impact on 2024 earnings.One thing to keep in mind is EV don't work well in cold weather. I think the batteries have a life of like ten years, but I am not in the market for one and don't know if this is true. Hertz is selling 30% of the EVs (Telsa) they have purchased in the past few years. One of the reasons they cite is the cost of maintenance. Apparently, EV's are heavier than gas powered cards and need to change the tires more frequently. That is just something I've read.
I forgot one thing. I renewed my car registration and was charged about a 100 dollar fee because I drive a fuel efficient vehicle. My state doesn't like I spend less on gas for their highway fund. I would check with your state to see if they have any recurring fees you will have to pay for having an EV.
Statistics: Posted by jebmke — Mon Jan 15, 2024 6:18 am — Replies 6 — Views 506