{"id":294774,"date":"2024-01-13T12:32:37","date_gmt":"2024-01-13T11:32:37","guid":{"rendered":"https:\/\/climatescience.press\/?p=294774"},"modified":"2024-01-13T12:32:39","modified_gmt":"2024-01-13T11:32:39","slug":"hertz-to-sell-one-third-of-its-evs-customers-dont-want-them-and-they-cost-too-much-to-fix","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=294774","title":{"rendered":"Hertz to sell one third of it\u2019s EV\u2019s \u2014 customers don\u2019t want them and they cost too much to fix"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

<\/p>\n\n\n\n

By Jo Nova<\/a><\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

With the western world hurtling into new cars that are more costly, inconvenient, slower to refuel, and prone to burning down carparks<\/a> and cargo ships<\/a>, it was only a matter of time before the cracks in the socialist car market started to show.<\/strong><\/p>\n\n\n\n

Around the world tonight headlines are sharing the news that Hertz is selling off 20,000 EVs, one third of their fleet, in order to buy some more fossil fuel cars. That can\u2019t be inspiring news for customers thinking of giving up their gas guzzlers. <\/p>\n\n\n\n

As\u00a0Oilprice<\/em>\u00a0said:\u00a0Hertz\u2019s Big Move Into EVs Turned Out To Be A Dud<\/a>.\u00a0 And as\u00a0Reuters<\/em>\u00a0headlined:\u00a0Rental giant Hertz dumps EVs, including Teslas, for gas cars<\/a>.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

It was the perfect storm in a bad way. Apparently the customers didn\u2019t want to rent them, and when they did and they scratched them, they cost too much to fix. (Repair costs were twice as high<\/a>).  Then the bottom fell out of the second-hand market, and to recover the depreciation losses, Hertz would have to raise the prices on a product customers already didn\u2019t want. There was no way this was going to work.<\/p>\n\n\n\n

The official dry Hertz announcement<\/a> politely says that customers want fossil fueled cars and EV\u2019s were too expensive to fix:<\/p>\n\n\n\n

\u201c..expenses related to collision and damage, primarily associated with EVs<\/strong>, remained high in the quarter\u201d<\/p>\n\n\n\n

\u201cThe Company expects to reinvest a portion of the proceeds from the sale of EVs into the purchase of internal combustion engine (\u201cICE\u201d) vehicles to meet customer demand.\u201d<\/strong><\/p>\n\n\n\n

<\/p>\n\n\n\n

Back in October 2021 it was all champagne and fireworks<\/h4>\n\n\n\n

Hertz put in an order for 100,000 EVs which was so exciting it pushed Tesla shares up 9% briefly to \u201ca trillion dollar valuation\u201d<\/a>. (Two years later Tesla is worth 30% less.) At the time, Hertz expected to get the 100,000 cars by the end of 2022. Luckily for them, this didn\u2019t happen. Instead they only got 50,000 by the end of 2022<\/a>. This worked out to be about 11% of Tesla<\/del> Hertz\u2019s total fleet. So these EV\u2019s are not even very old. No one can say \u201cthe new models are better, because these are new models.<\/p>\n\n\n\n

Some of the cars are already on the market<\/a>. Two year old Telsa Model 3 EV\u2019s are going for $22,000 US.<\/p>\n\n\n\n

Hertz will book a $250 million dollar loss, and stocks<\/a> in both Hertz and Tesla fell on the news.<\/p>\n\n\n\n

With uncanny timing the Australian Albanese government is about to launch emissions standards we don\u2019t need<\/a> to coerce people to buy a product they don\u2019t want, in the hope, they say, of changing the weather.<\/p>\n\n\n\n

The insanity would be hard to fathom if EV\u2019s weren\u2019t also the ideal tool for spying, data collection, law enforcement, and political control<\/a>. Benefits that can launch a thousand political careers\u2026<\/p>\n\n\n\n

Rollercoaster photo by Itai Aarons<\/a> on Unsplash<\/a><\/p>\n\n\n\n

Tesla image by\u00a0ben saida<\/a>\u00a0from\u00a0Pixabay<\/a><\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

With the western world hurtling into new cars that are more costly, inconvenient, slower to refuel, and prone to burning down carparks and cargo ships, it was only a matter of time before the cracks in the socialist car market started to show.<\/p>\n","protected":false},"author":121246920,"featured_media":294779,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_wpcom_ai_launchpad_first_post":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"With the western world hurtling into new cars that are more costly, inconvenient, slower to refuel, and prone to burning down carparks and cargo ships, it was only a matter of time before the cracks in the socialist car market started to show.","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[1],"tags":[691821977,691826228,691824237,691826229],"class_list":["post-294774","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-electric-vehicles-evs","tag-fossil-fueled-cars","tag-hertz","tag-telsa-model-3","fallback-thumbnail"],"jetpack_publicize_connections":[],"jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/paxLW1-1eGq","jetpack-related-posts":[{"id":330073,"url":"https:\/\/climatescience.press\/?p=330073","url_meta":{"origin":294774,"position":0},"title":"The Electric Car Revolution is Coming Crashing Down","author":"uwe.roland.gross","date":"05\/25\/2024","format":false,"excerpt":"The state-subsidised electric car market has crashed in China and the country is trying to dump the vehicles on the West, but the same is happening here as well. For manufacturers it\u2019s going to be a blood bath. Ross Clark has the details in the Spectator.","rel":"","context":"In \"China\"","block_context":{"text":"China","link":"https:\/\/climatescience.press\/?tag=china"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/05\/OIG-68.jpeg?fit=1024%2C1024&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/05\/OIG-68.jpeg?fit=1024%2C1024&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/05\/OIG-68.jpeg?fit=1024%2C1024&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/05\/OIG-68.jpeg?fit=1024%2C1024&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":325857,"url":"https:\/\/climatescience.press\/?p=325857","url_meta":{"origin":294774,"position":1},"title":"EV Hell continues: Crash victims might have to be \u201cleft to die\u201d, Hertz dumps another 10,000 cars, Tesla sacks whole charging team","author":"uwe.roland.gross","date":"05\/04\/2024","format":false,"excerpt":"In today\u2019s EV obituary column, Elon Musk has dropped a bombshell. Two months after Telsa chargers became the industry standard (which promised to save the other car makers) his profits fell, and he\u2019s fired the entire EV charging team overnight. Hertz, meanwhile, has realized that\u00a0dumping 20,000 electric cars in January\u00a0was\u2026","rel":"","context":"In \"Electric and Hybrid Vehicle Batteries\"","block_context":{"text":"Electric and Hybrid Vehicle Batteries","link":"https:\/\/climatescience.press\/?tag=electric-and-hybrid-vehicle-batteries"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/05\/OIG-13.jpeg?fit=1024%2C1024&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/05\/OIG-13.jpeg?fit=1024%2C1024&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/05\/OIG-13.jpeg?fit=1024%2C1024&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/05\/OIG-13.jpeg?fit=1024%2C1024&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":311002,"url":"https:\/\/climatescience.press\/?p=311002","url_meta":{"origin":294774,"position":2},"title":"Hertz CEO Steps Down after Catastrophic EV Losses","author":"uwe.roland.gross","date":"03\/21\/2024","format":false,"excerpt":"CEO steps down after being hit with expensive EV repairs and low resale prices following purchase of 100,000 Teslas","rel":"","context":"In \"electric vehicles (EVs)\"","block_context":{"text":"electric vehicles (EVs)","link":"https:\/\/climatescience.press\/?tag=electric-vehicles-evs"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/03\/0TESLAHERTZ.webp?fit=1200%2C800&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/03\/0TESLAHERTZ.webp?fit=1200%2C800&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/03\/0TESLAHERTZ.webp?fit=1200%2C800&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/03\/0TESLAHERTZ.webp?fit=1200%2C800&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/03\/0TESLAHERTZ.webp?fit=1200%2C800&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":414505,"url":"https:\/\/climatescience.press\/?p=414505","url_meta":{"origin":294774,"position":3},"title":"The Hertz-Tesla EV Disaster… What Happened?","author":"uwe.roland.gross","date":"11\/24\/2025","format":false,"excerpt":"The plan was simple. 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