They will be slashing prices on rentals.
Posted on 04/25/2024 2:02:39 PM PDT by ChicagoConservative27
Shares of rental car giant Hertz plunged by more than 20 percent on Thursday after the company reported huge losses related to its investment in Electric Vehicles (EVs).
For months, Hertz has been struggling after going all-in on EVs. On Thursday, Hertz executives said it lost $1.28 per share in the first quarter, many times larger than Wall Street’s estimate of a loss of 45 percent per share.
The wider-than-expected loss came even though business was actually busier than expected for Hertz. The company took in $2.1 billion in revenue, slightly outpacing expectations.
In January, Hertz executives announced that they would sell 20,000 EVs from their fleet, which accounts for about 33 percent of the company’s total number of EVs. This week, Hertz executives said they would sell an additional 10,000 EVs from their fleet this year.
(Excerpt) Read more at breitbart.com ...
No Juice...
Elon’s announcement of a robotaxi service probably has more to do with it, which sunk Uber’s price.
OJ?
Of course Hertz issues will come with greater frequency
Lots of CEO’s with egg on their faces over electric vehicles. As good leftists they all assumed they would look ahead of the curve when government forced everyone to buy them. Fedscum may indeed accomplish it but not soon enough to save the businesses that counted on it. To quote Barry Soetoro, “Never underestimate Joe’s ability to f@&? things up.”
Of course they will. I can’t get too amped up about it.
Yea, this may kill ol’ Hertz.
Most people will say you are taking a chance on buying any used rental car, since it's almost guaranteed to have been abused. Add in the fact that it's an EV, too, that's an even bigger risk.
“In January, Hertz executives announced that they would sell 20,000 EVs from their fleet, which accounts for about 33 percent of the company’s total number of EVs. This week, Hertz executives said they would sell an additional 10,000 EVs from their fleet this year.”
Who’s in the market for 40,000 of these used POS’s?
How big a gummit subsidy did they receive?
The Federal Government... with your tax dollars
you’d think they’d put 100 cars in all the major cities and see how that went, and you’d be wrong...
"Death to all Juice" meme.
"Shares of rental car giant Hertz plunged.."
They will be slashing prices on rentals.
That's a pretty cold assessment. Have a heart.
The USG should be forced to take them at a fair market value then use them to swap out one for one with ICE vehicles used by various USG drones. Since our feckless Con-gre$$ can't see fit to object to any of this nonsense they would account for 535 right out of the gate. The top 5 or six levels of each USG org should put a dent in the remaining Green Machines. Force them all to take a bite of the sht sandwich they cooked up for the rest of US.
If the EV doesn’t fit...you must return to the combustible engine.
I am old enough to remember that ad. That is a good one Mr. DFWGator.
Maybe Hertz will finally take a stab at running back to services that work.
shocking...
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