In November last year The rental company Hertz has made a name for itself. Considered? Your own park electric cars, the maintenance of which turns out to be much more expensive than expected.

The latest twist to date is that the well-known rental company wants to sell about 20,000 electric cars, the vast majority of which are Teslas. And the worst thing is that he wants to return gasoline models !

Hertz separates gasoline cars from its electric cars

As reported by Reuters, the well-known rental company Hertz will sell a very large number of electric models throughout its fleet in the United States. Next 20,000 carsmainly You are here.

This decision was made almost two years after the signing of the agreement on rental of their first electric cars. The reason? The cost of repairs would be prohibitively high, especially body parts. And electric cars would get into collisions more often, with quite significant material damages.

Shares of Hertz and Tesla fall

A few months later, Hertz did their calculation, and apparently it’s not profitable. The rental agency also announced at the same time that it was parting ways with its electric cars to take over gasoline vehicles. Quite an amazing and revealing memory.

And above all, that goes against the original goals of the rental company that was wanted convert 25% of its fleet to electric vehicles by the end of 2024 year. However, as recently as last year, Hertz CEO Steven Scherr warned during JPMorgan Auto Conference against concerns over the rising cost of electric cars, particularly Tesla models.

After this announcement Hertz shares fell about 4%while those of Tesla down almost 3%. Finally, the agency’s plans 245 million dollars charges related to depreciation deductions from the sale of electric cars in the IV quarter of 2023.

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