Quote from Ndubuisi Ekekwe on January 11, 2024, 4:19 PM

This is a big reversal at scale: "Hertz is selling roughly 20,000 electric vehicles — about a third of its EV fleet — and replacing them with gas-powered cars, according to a regulatory filing. The rental car company blamed weak demand and high repair costs for the shift in strategy. Higher depreciation costs after Tesla cut prices and slowing EV sales also factored into Hertz’s decision. “We may have been ahead of ourselves,” CEO Stephen Scherr told CNBC. Hertz’s move to slash its EV fleet reverses the company’s announcement in 2021 when it said it would purchase 100,000 Tesla vehicles."