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Hertz continues to feel EV losses, plans to dump more from its fleet

Teslarati

Hertz ( NASDAQ: HTZ ) reported its earnings for the first quarter of 2024 today, announcing that it is continuing to lose money on its electric vehicle investment and plans to dump even more EVs from its fleet. Hertz said it incurred a $195 million charge to vehicle depreciation to write down the EVs held for sale. Tesla inks $4.2B

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Hertz announces ‘strategic decision’ to slash EV fleet

Teslarati

Hertz announced on Thursday in a regulatory filing with the SEC that it has made a “strategic decision” to slash its electric vehicle fleet by 20,000 vehicles. In the filing , Hertz said the figure is roughly one-third of its global EV fleet. Hertz has health with a major decrease in the value of its EV fleet, it said.

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Hertz is selling EVs, including Teslas, to buy gasoline models

Baua Electric

rental fleet to buy gasoline cars. The company said in a filing with the Securities and Exchange Commission (SEC) that the sales of these vehicles, which represent about one third of its global EV fleet, began in Dec. EVs held for sale will remain eligible for rental during the sale process, the company noted.

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Plenty of Electric Vehicles Available for Sale

Green Fleet Magazine

EV inventory is stacking up on dealer lots as consumers spooked by high prices and sparse charging stations second-guess or resist buying them.

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Lightning Systems Gen 2 electric Ford Transit named in CARB executive order; new NMC batteries for longer range

Green Car Congress

Lightning Systems, a global developer of zero-emissions drivetrains for commercial fleets, has had its longer-range, higher-speed, Generation 2 model of its Lightning Electric system for the Ford Transit ( earlier post ) named in an Executive Order from the California Air Resources Board (CARB).

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Hertz says it will invest some of proceeds from selling Tesla cars back into gas cars

Baua Electric

Back in 2021, Hertz announced an important effort to electrify its fleet of rental cars, led by a massive purchase of 100,000 Tesla Model 3 vehicles. The rental company’s Tesla fleet has been growing over the last few years, and it reported that Tesla vehicles are increasing Hertz’s customer satisfaction.

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EV sales in India surge 41% to 1.66 million units in FY2024 | Autocar Professional

Baua Electric

FY2024 has ended on a very strong note for the Indian electric vehicle (EV) industry, setting a new benchmark for sales across vehicle segments as also delivering the best-ever 12-month sales for the electric two-wheeler, three-wheeler and passenger vehicle sub-segments. Ninety-five percent – 37,70,971 units – of the 3.94

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