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Hertz is ditching even more electric cars
The rental car company has been selling off EVs in droves after saying it would order 100,000 Teslas in 2021
Hertz is ditching more of its fleet of electric vehicles, which it says are unreliable and more expensive than gas-guzzlers, as it reports a $392 million loss for the first quarter of 2024. “Fleet and direct operating costs weighed on this quarter’s performance,” CEO Gil West, a former executive at Delta and General Motors’ Cruise unit who joined Hertz on April 1, said in a statement. Tesla’s rapid price cuts — designed to combat slowing sales growth — hurt the value of Hertz’s fleet.
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