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Fueling Change: Hertz Shifts Gears, Ditches EVs in Favor of Gas-Powered Cars

via WGN News
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Tom Brady’s appearance in Hertz electric car rental ads have received mixed reactions from fans online.

Hertz recently announced the sale of 20,000 EVs due to growing skepticism and declining customer demand.

The company’s initial enthusiasm for EVs, including a large order of Teslas, has led to financial challenges, as used EV prices have dropped.

The rental giant faces significant losses on each EV sale, shining light on the ongoing preference for internal combustion vehicles over electric ones.

“While 20,000 cars isn’t a large number in the total used vehicle market, it does mean Hertz will be taking a major loss on each of these sales while further contributing to the trend of falling used EV values,” analyst Karl Brauer said.

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