Rental giant Hertz has lost billions on having electric cars in its fleet. Now, 30,000 of them, primarily Teslas, have been sold to cover some of the losses.
Rental giant Hertz said in 2021 that they would buy 100,000 Teslas. That many will never be made, and now there are no cars left at all.
The company has sold all of its Teslas again. They were simply too bad a business.
In 2024 alone, Hertz lost 20 billion kroner on electric cars. As a result, 30,000 of them have now been sold.
This is reported by BNN Bloomberg .
The bad news immediately caused the company's stock to fall by a whopping 11 percent. But now Hertz can announce that it has gotten rid of all the Teslas in its fleet.
However, it has been extremely expensive. Many of the cars have been sold for less than 120,000 Danish kroner, partly because they flopped as rental cars and really just took up space.
Instead, customers chose petrol or diesel cars. This is partly due to the fact that the network of charging stations has not been developed or, for that matter, rolled out widely enough in the country.
However, the sale of the many Teslas does not mean that Hertz has completely removed electric cars from its fleet of rental cars.
In California, there are still quite a few Polestar cars with the company's logo on the roads.
But the relationship with the Chinese car manufacturer has also been put on hold. That decision was made in February 2024 because electric cars lose too much value too quickly. And they are also expensive to repair. Read more about it here .
