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Hertz is selling 20,000 EVs and replacing them with gas cars
Hertz is selling off a third of its electric vehicle fleet, which is predominantly made up of Teslas, and will buy gas cars with some of the money it
Hertz is selling off a third of its electric vehicle fleet, which is predominantly made up of Teslas, and will buy gas cars with some of the money it makes from the sales. The company said in a Thursday morning filing that it is recognizing “approximately $245 million of incremental net depreciation expense related to the sale,” which is a dry way of saying it’s taking a bath on the decision. Scherr maintained at the time that his company was “committed” to buying 100,000 cars from Tesla, even while he admitted that the automaker’s price cuts had shrunk the value of its modest EV fleet.
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