The rental giant Hertz must see a loss of a staggering 7 billion in write-downs in the eyes. The explanation is 30,000 Teslas.
The rental company Hertz's aggressive investment in electric cars, which i.a. threw away orders for 100,000 Teslas and 65,000 Polestars, has been an expensive pleasure.
Unexpectedly high repair costs and a drastic drop in the resale value of the cars after Tesla lowered its prices, forced Hertz to make a write-down of 7 billion kroner.
The consequences have been significant. Hertz's stock has fallen more than 60 percent this year, and CEO Stephen Scherr was fired in March.
The company has initiated a massive sale of electric cars, and has set itself a goal of selling at least 30,000 before 2025.
With the sale of the many electric cars, the company hopes to have the number of electric cars that actually match the demand left.
READ ALSO: Tesla Cybertruck recalled for the 6th time this year
According to Insideevs, you can acquire a used Tesla Model 3 with a high mileage for around 105,000 Danish kroner.
Hertz continues to sell off its electric cars, and that is expected to continue into 2025.
The American rental company is far from alone in burning the teddies on electric cars. Electric cars have also been a bad business for Sixt's competitors.
However, the German company can note a completely different development in the accounts after getting rid of the many Teslas. Unlike Hertz, Sixt has said that it will no longer have Teslas in its fleet of rental cars.
However, it is not only the big companies that have to see the money behind brand new electric cars disappear. At the moment, the electric cars are also rattling down at a pace so that more private drivers are becoming decidedly insolvent. Boosted has compiled a list of the electric cars that lose the absolute most in value. Read more about it here .
Read more exciting news from and about the world of cars right here!
