Hertz is selling a massive chunk of its electric-vehicle fleet, citing higher repair costs.
The company plans to sell 20,000 cars, or about one-third of its electric fleet.
The company plans to use the money to buy internal combustion engine vehicles.
So why the sudden change?
It was only in 2021 when the rental company made a splash,, with grand plans to help make EVs go mainstream.
But now, with new management, Hertz has decided to drastically cut their EV fleet.
The company stated that consumer demand for EV rentals just isn’t what they had hoped for.
Then there are the expensive repair costs.
Hertz says the pool of EV early adopters is drying up, and skyrocketing interest rates have left consumers with few expensive models to choose from and virtually no used market as an alternative.
