I’m willing to pay up to $5
Total
They will take a big loss but it looks like they already wrote most of it off. Brand new Tesla model 3s are now about 30% cheaper new than Hertz paid for theirs, which are now well used, and the current models have all the latest features. Maybe Hertz’ fleet is full self drive capable I’m not sure. But the body style has been updated for 2024. So you’re buying a used, many-driver rental car with all the dents and scratches and wear and tear used cars get inside and out (luggage marks etc) that is out of style and with questionable battery life. They will have to dump them I would guess either sub $20k or be willing to wait for the buyers. They could probably wait a bit, if they already wrote them down… they have plenty of parking spaces.
I would never buy a used electric car.
Hertz’s EV fleet lost so far $440 million as no one will even rent the electric cars!
They have 60,000 electric vehicles or more.
The losses are just for 30,000 of them so much more losses to come.
https://finance.yahoo.com/news/hertz-loses-another-200-million-from-its-evs-172735716.html
The now-former CEO Stephen Scheer has a liberal arts and a law degree but no technical background which explains this insane decision to invest in EVs.
This lack of technical understanding has caused problems in a lot of other large companies, like Boeing.
Who would buy a used EV from these guys?
From anybody?
Buying a used car from a rental place is foolish, buying an electric used car from a rental place is idiocy.
The sad truth is electric cars spit out way more tire pollution, which is very hazardous to humans. That’s the real catch that will sink this trend.
This is a golden opportunity for a certain FReeper who constantly advocates for EV ownership but doesn’t own one himself.
Who in their right mind would want to rent an EV in a strange city during their travels, especially a large blue one filled with danger? Run the battery down and no convenient place to charge it.
Rent a gas powered buggy and gas up anywhere with zero chance of a mechanical failure
“Ford lost $132,000 on each electric vehicle it sold in the first quarter 2024”
For a business traveler that has appointments to keep, potential of getting lost, possible inability or time spent finding a place to charge the batteries, etc - would you really want to add another layer of complexity or risk? Maybe if your client is an eco nut and will appreciate the woke symbolism?
With a gas rental I have to return the vehicle with a full tank or pay a slight premium for it to be refilled. What’s the deal with electric? Do I wait around for the car to recharge?
Note, I don’t hate EV’s it’s just not practical for me use case.
What do the charge to get rid of the battery?
Tough year for Hertz, what with losing OJ and now this.
Hertz, unlike other rental firms, has a more risky approach because it fully owns all the EVs it has bought and is losing money if the resale value slumps.
But...........................
Banks have to build new and bigger buildings because if they don’t customer don’t come.
Farmers have to buy new and bigger equipment or the land owners won’t rent to them.
Churches have to build new buildings or everyone thinks they are a fail church.
My economic indicator is when the last new church, bank and school gets built, we are going down the tubes. But it will be in hindsight.
INBEFORE
Electric cars aren’t bad - really. They’re fine. If you drive a golf cart in the Villages, in a New Hampshire winter you’re going to want a Tesla.
BUT
The idea of a universal implementation is ABSURD, a manifestation of increasing stupidity and currying of favor in a dying empire, that Putin correctly called the Empire of Lies (the truth hurts).
NO, they can’t mandate electric cars. NO, the infrastructure to support universal EV will never be created. NO, the millions upon millions who park on the street in cities will never have an EV. NO, when it becomes clear that end-of-life comes early and resale value approaches zero, commercial loans will no longer exist.
Look, if it meets your needs, by all means get one. They are cool toys, if nothing else.
But mandated for everyone? Idiocracy taking over - but you knew that.
Shocking move by Hertz /sarcasm
Scotty Kilmer says in one of his latest videos that a replacement battery under warranty from Tesla is actually a used battery. It was refurbished. He sited one person who bought a 2021 Tesla and is now on his 3rd refurbished battery.