Hertz returns to gasoline-powered vehicles
12/02/2024
Electric Cars: Hertz returns to gasoline-powered vehicles, due to high costs and weak demand for electric cars.
In fact Hertz plans to sell at least a third of its electric car fleet to return to investing in traditional cars following a weak demand and high battery repair costs.
The sale of 20,000 cars began last month and will continue throughout 2024.
Hertz strategy change clearly reflects the sharp slowdown in demand for electric cars that began in the United States.
The announcement resulted in a loss in value of Hertz shares on the stock market, which have already lost 2.30%.
The company plans to reinvest a portion of the proceeds from the sale of electric vehicles into the purchase of internal combustion engine cars to meet customer demand.
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