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You are here: Home / News / Hertz to Reduce EV Fleet by 20,000 Vehicles on Soft Rental Demand and High Repair Costs

Hertz to Reduce EV Fleet by 20,000 Vehicles on Soft Rental Demand and High Repair Costs

January 11, 2024 By CollisionWeek Editor

Hertz Global Holdings (NASDAQ: HTZ) announced today it will sell about 20,000 of the electric vehicles in its fleet. In an interview on CNBC today, Stephen Scherr, CEO of Hertz explained that the rental company was reducing its fleet due to lower demand for EV rentals and the higher costs associated with EV damage repairs.

“We took a bold move and are making a strategic adjustment to our fleet to take 20,000 electric vehicles out of the fleet,” said Scheer in the CNBC interview embedded above. “It’s really to respond to the reality which is we’re trying to bring supply

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Filed Under: News Tagged With: Electric Vehicles, Hertz

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