Hertz currently has around 50,000 EVs in its fleet, of which 35,000 are Teslas – far below the original target of 100,000 units announced two years ago.
Last week, General Motors and Ford announced they are pushing back spending on electric vehicles, citing slowing demand for BEVs and the EV price war initiated by Tesla at the start of the year. But it looks like Detroit's biggest automakers aren't the only ones adopting a more cautious approach to EVs.
'MSRP declines in EVs over the course of 2023, driven primarily by Tesla, have driven the fair market value of our EVs lower as compared to last year, such that as salvage creates a larger loss and therefore greater burden,' the CEO said according to CNBC. 'On a unit basis, we achieved productivity gains across most categories of auto. The exception remained vehicle damage costs, particularly those on our EVs,' he added.
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