Hertz to Sell 20,000 EVs in Shift Back to Gas
#3203882
01/11/24 08:19 PM
01/11/24 08:19 PM
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Joined: Jan 2003
Posts: 12,154 Benton, IL.
DaveRS23
OP
Special needs idiot
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OP
Special needs idiot
Joined: Jan 2003
Posts: 12,154
Benton, IL.
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' Hertz Global Holdings Inc. plans to sell a third of its US electric vehicle fleet and reinvest in gas-powered cars due to weak demand and high repair costs for its battery-powered options.
The sales of 20,000 EVs began last month and will continue over the course of 2024, the rental giant said Thursday in a regulatory filing. Hertz will record a non-cash charge in its fourth-quarter results of about $245 million related to incremental net depreciation expense.'www.bloomberg.com/news/articles/202...00-evs-in-shift-back-to-gas-powered-carsAnother quote: " One "futurist" EV report claimed that EV dominance would be led by mass EV adoption by fleet operators (like Hertz). Our 2017 report argued the opposite. EVs - with their higher MSRPs, lower range, long refueling times (even on a supercharger), expensive-to-replace batteries - were actually LEAST attractive for fleet. . Hertz proved us wrong for a moment, by buying almost 100,000 EVs in 2021... until 2024, when they admitted their $600mm mistake."
Master, again and still
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Re: Hertz to Sell 20,000 EVs in Shift Back to Gas
[Re: not_a_charger]
#3203893
01/11/24 09:13 PM
01/11/24 09:13 PM
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Joined: Jan 2003
Posts: 12,154 Benton, IL.
DaveRS23
OP
Special needs idiot
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OP
Special needs idiot
Joined: Jan 2003
Posts: 12,154
Benton, IL.
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Aren't they the ones that were having their customers arrested for 'stealing' their cars?
Master, again and still
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Re: Hertz to Sell 20,000 EVs in Shift Back to Gas
[Re: AndyF]
#3203909
01/11/24 10:01 PM
01/11/24 10:01 PM
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Joined: Jan 2003
Posts: 4,152 Canada -- Posts: 4034 -Registe...
5thAve
Doesn't care what this says anyway
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Doesn't care what this says anyway
Joined: Jan 2003
Posts: 4,152
Canada -- Posts: 4034 -Registe...
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Could be a good deal for people who want to pick up a slightly used EV. I'm not surprised that Hertz had trouble renting EVs. Most people are unfamiliar with them and EVs have some strict limitations on their use. Rental cars often get driven to hotels and most hotels do not have chargers available so the whole idea seems flawed. I wouldn't want to drive an EV in an unfamiliar city without have a bullet proof charging plan. Plus a lot of rentals are for vacationers and long trips, neither of which you'd want to have to worry about how far you can go and looking for charging stations.
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Re: Hertz to Sell 20,000 EVs in Shift Back to Gas
[Re: AndyF]
#3203918
01/11/24 10:18 PM
01/11/24 10:18 PM
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Joined: Feb 2004
Posts: 1,847 Sault Ste. Marie, Ontario, Can...
moparmike1
top fuel
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top fuel
Joined: Feb 2004
Posts: 1,847
Sault Ste. Marie, Ontario, Can...
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Could be a good deal for people who want to pick up a slightly used EV. Full disclosure, I'm not a fan of EVs. Anyone looking at a used EV should also be looking at buying the extended warranty from the manufacturer. If that isn't possible because it's a former rental unit, I would walk away.
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Re: Hertz to Sell 20,000 EVs in Shift Back to Gas
[Re: DaveRS23]
#3203934
01/11/24 11:13 PM
01/11/24 11:13 PM
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Joined: Jan 2003
Posts: 5,138 East Aurora (Buffalo) NY
RoadRunner
master
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master
Joined: Jan 2003
Posts: 5,138
East Aurora (Buffalo) NY
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' Hertz Global Holdings Inc. plans to sell a third of its US electric vehicle fleet and reinvest in gas-powered cars due to weak demand and high repair costs for its battery-powered options.
The sales of 20,000 EVs began last month and will continue over the course of 2024, the rental giant said Thursday in a regulatory filing. Hertz will record a non-cash charge in its fourth-quarter results of about $245 million related to incremental net depreciation expense.'www.bloomberg.com/news/articles/202...00-evs-in-shift-back-to-gas-powered-carsAnother quote: " One "futurist" EV report claimed that EV dominance would be led by mass EV adoption by fleet operators (like Hertz). Our 2017 report argued the opposite. EVs - with their higher MSRPs, lower range, long refueling times (even on a supercharger), expensive-to-replace batteries - were actually LEAST attractive for fleet. . Hertz proved us wrong for a moment, by buying almost 100,000 EVs in 2021... until 2024, when they admitted their $600mm mistake." After several weather delays I arrived at a Hertz counter in Houston (Bush International) just as they closed for the night earlier this week. There were 35-40 people in a line. I am Presidents Choice and can usually go pick any car, but the Hertz worker said they were assigning cars. As I was getting close to my car they started bringing out the EVs. I have no chargers at our construction site nor the hotel nearby that I stay at. I had to decline as they had stacked up the EVs. Everyone behind me was waiting for a gas car. I think maybe two or three took the EVs. After a few minutes, the worker brought out a Yukon Denali for me. I took it and ran. Not sure how many people didn't get cars that night.
68 Road Runner (383/4speed, post car w/decor pkg) - Major Project 69 Road Runner w/472 Hemi & 4 speed. 70 Challenger R/T SE EF8 w/ V9J, U - A32 - Major Project 2023 Ford Mach 1
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Re: Hertz to Sell 20,000 EVs in Shift Back to Gas
[Re: RoadRunner]
#3203954
01/12/24 12:30 AM
01/12/24 12:30 AM
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Joined: Feb 2003
Posts: 10,218 Someplace you aren't
SomeCarGuy
I Live Here
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I Live Here
Joined: Feb 2003
Posts: 10,218
Someplace you aren't
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Great way to spend a vacation. At a charger.
My wife works with some people that added two extra overnights on a trip so they could take an ev. We make the same trip in my gas guzzler on one or no stops one way. It takes less than three minutes to fill the 28 gallon tank since pumps flow 10 gpm, maybe add a minute for the card.
I want my fair share
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Re: Hertz to Sell 20,000 EVs in Shift Back to Gas
[Re: 360view]
#3203985
01/12/24 07:05 AM
01/12/24 07:05 AM
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Joined: Feb 2003
Posts: 10,218 Someplace you aren't
SomeCarGuy
I Live Here
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I Live Here
Joined: Feb 2003
Posts: 10,218
Someplace you aren't
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$600,000,000 loss.
All these vast combined losses would have been profitably applied to building up the electrical distribution system.
The distribution system must be improved to feed all the “super chargers.”
Rookie mistakes by people who never have done even simple construction projects.
It makes General Leslie Groves building of the Pentagon so quick, then the Manhattan Project A-Bomb even more impressive, and also Henry Kaiser’s Liberty Ships and Escort Aircraft Carriers.
“Greenie” is now proudly used by those “Saving the Earth” but greenie also was used to describe very inexperienced and therefore unskilled people. The Dodge Main plant in the Michigan winter months was as impressive as anything. Like 1917 or so.
I want my fair share
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Re: Hertz to Sell 20,000 EVs in Shift Back to Gas
[Re: 5thAve]
#3204266
01/13/24 08:36 AM
01/13/24 08:36 AM
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Joined: Jul 2003
Posts: 4,779 Holland MI Ottawa
2boltmain
master
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master
Joined: Jul 2003
Posts: 4,779
Holland MI Ottawa
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People and companies buy EVs and then are disappointed at the realities of battery powered vehicles. They should have known in advance that saving the planet comes with great sacrifice and spending/losing lots of $$.
Keep old mopars alive.
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Re: Hertz to Sell 20,000 EVs in Shift Back to Gas
[Re: 5thAve]
#3204267
01/13/24 08:52 AM
01/13/24 08:52 AM
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Joined: Dec 2007
Posts: 19,949 Puttin' on the foil in Charles...
not_a_charger
Mr. Big Shot Moparts Moderator
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Mr. Big Shot Moparts Moderator
Joined: Dec 2007
Posts: 19,949
Puttin' on the foil in Charles...
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Could be a good deal for people who want to pick up a slightly used EV. I'm not surprised that Hertz had trouble renting EVs. Most people are unfamiliar with them and EVs have some strict limitations on their use. Rental cars often get driven to hotels and most hotels do not have chargers available so the whole idea seems flawed. I wouldn't want to drive an EV in an unfamiliar city without have a bullet proof charging plan. Plus a lot of rentals are for vacationers and long trips, neither of which you'd want to have to worry about how far you can go and looking for charging stations. That, along with another huge segment of rentals is accident claim repairs, and most people who don't have EVs don't want an EV rental for the same reason as the vacationers/long trip takers.
Earning every penny of that moderator paycheck.
DBAP
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Re: Hertz to Sell 20,000 EVs in Shift Back to Gas
[Re: DaveRS23]
#3204269
01/13/24 09:20 AM
01/13/24 09:20 AM
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Joined: Dec 2014
Posts: 5,857 ohio
ruderunner
master
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master
Joined: Dec 2014
Posts: 5,857
ohio
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Aren't they the ones that were having their customers arrested for 'stealing' their cars? Why yes, yes they are.
Angry white pureblood male
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Re: Hertz to Sell 20,000 EVs in Shift Back to Gas
[Re: not_a_charger]
#3204278
01/13/24 10:03 AM
01/13/24 10:03 AM
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Joined: Dec 2014
Posts: 5,857 ohio
ruderunner
master
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master
Joined: Dec 2014
Posts: 5,857
ohio
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Lehto has a bunch of stories about Hertz.
Like billing 21k miles in a 3 day rental.
Selling cars and reporting them stolen.
Angry white pureblood male
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