#Hertz is selling 20,000 used EVs due to high #repair costs
source: https://arstechnica.com/cars/2024/01/hertz-is-selling-20000-used-evs-due-to-high-repair-costs/
At the end of Q3 2023, Hertz told investors that significant price cutting during the year had "resulted in lower #EV residual values, increasing vehicle depreciation expense and negatively impacting salvage cost." Additionally, its rental EVs were damaged or crashed more often, and the much higher cost of repairs for #Tesla vehiclesโon average about 20 percent higher than other EVsโhas meant that Hertz's Teslas earn it less money per vehicle than its other rentals.
