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thewayneThe idea wasn't bad, per se, I think he was too early to the game and it cost the company approx $348 mil in the process.
I've already written about the Hertz fire sale of Teslas and other EVs. Now, the sale of their Tesla inventory was from a whole different set of problems. Tesla started slashing their retail prices, and Hertz was locked into a contract, which screwed the rental company from day 1. And Tesla is infamous for being slow on repair parts and body panels, while rental cars are equally infamous on getting banged up a bit. Not a good combination. Deflating value, inflating repair costs. Excellent formula for a CEO to find them out on their ear.
You also have a problem of infrastructure. Dump a whole bunch of EVs into areas with not very good charging infrastructure everywhere - and some of that poorly maintained or not working at all - and there are issues. A lot of EV rental drivers don't understand the tremendous acceleration these cars are capable of, nor do they follow good charging station etiquette.
Hybrids - not the plug-in variety - I think are a much better investment for car rental companies, and most of them have on offer, I've driven a couple when my Subaru was last banged up a few years back and will probably end up with one for my next car.
https://www.thegatewaypundit.com/2024/03/hertz-ceo-resigns-blowing-big-gamble-evs/
I've already written about the Hertz fire sale of Teslas and other EVs. Now, the sale of their Tesla inventory was from a whole different set of problems. Tesla started slashing their retail prices, and Hertz was locked into a contract, which screwed the rental company from day 1. And Tesla is infamous for being slow on repair parts and body panels, while rental cars are equally infamous on getting banged up a bit. Not a good combination. Deflating value, inflating repair costs. Excellent formula for a CEO to find them out on their ear.
You also have a problem of infrastructure. Dump a whole bunch of EVs into areas with not very good charging infrastructure everywhere - and some of that poorly maintained or not working at all - and there are issues. A lot of EV rental drivers don't understand the tremendous acceleration these cars are capable of, nor do they follow good charging station etiquette.
Hybrids - not the plug-in variety - I think are a much better investment for car rental companies, and most of them have on offer, I've driven a couple when my Subaru was last banged up a few years back and will probably end up with one for my next car.
https://www.thegatewaypundit.com/2024/03/hertz-ceo-resigns-blowing-big-gamble-evs/
