For Hertz, electric cars are not the good business the rental company had hoped for. 20,000 electric cars have already been sold. Now the company wants to get rid of even more.
At the beginning of January this year, the American car rental company Hertz announced that it is getting rid of 20,000 electric cars and replacing them with fossil cars.
And now the rental giant wants to get rid of an even larger part of the fleet of electric cars. This appears from the company's own report on the accounts for the first quarter of 2024.
The report states that Hertz will increase the sale of electric cars in the fleet from 10,000 to 30,000 cars. At the same time, Hertz admits that it is behind them how much the electric cars have lost in value.
– The company notes a loss of 195 million dollars on the electric cars that remain in the fleet, says a spokesman.
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Overall, the company states that it had a turnover of 2.1 billion dollars in the first quarter of 2024. However, this must be seen in the light of a loss of 567 million on operations in the same period.
And these are numbers, because you start to adjust for factors such as tax, interest on loans, and loss of value on the fleet.
Hertz isn't the latest car rental company to drastically cut back on electric cars. The competitor Sixt, for example, wants to get rid of all its Teslas. Read more about it here .
There have otherwise been big plans with electric cars and rental companies in particular. However, some of those plans have been put on hold, now that it has emerged that electric cars are not a great business.Read more about it here.
However, the rental companies are not the only ones losing huge sums of money on electric cars. So do the car factories. For example, it has just emerged that Ford loses DKK 1 million on every single electric car the brand builds.
And at FDM, you hear increasingly from worried electric car owners. Not because of the electric cars as such, but more because of the lack of economy in them. Read more about it here .
Read more exciting news from and about the world of cars right here!
