Hertz suffers $392M losses in Q1 alone because of EVs
Oops. Who in the right mind thought renting out EVs was a good idea ?Now they are junking 30000 EVs, 10000 more than originally planned. They FOMOed because Elon said Teslas are appreciating assets . Lol https://www.autoweek.com/news/a60635964/hertz-rental-ev-losses/
Autoweek
Worst idea of renting 💡 those leaders should learn how to find market demand, in the search of monopoly market they end up doing such shit
I think it could have worked if they didn’t make you bring it back fully charged. THAT was the real dumb move.
They didn’t require the vehicle to be fully charged when it was returned.
I saw a news clip which claimed that Rivian is losing $40k / car. If this is accurate, given that Fisker and Canoo will announce bankruptcy any day, I don't see any US based EV auto maker not named Tesla to survive, including Rivian
Imagine buying a complex, computer-based, internet-connected car for $70K, and then the maker goes under. In addition to parts and repairs, you now have to worry about hackers inevitably turning your car into a brick.
Amazon has way too much money ploughed into Rivian, they will probably bail them out with more money given the prospects of upcoming R2's success is higher and Rivian might end up making some money.
It was a bad idea from start, but the cult followers made sure no voice was loud enough to be heard.
It was a terrible call to buy $50K+ cars in mass and add them to your fleet. What was the motivation? Who was to benefit from it? God knows!
This what happens when you hire blue-haired “neurodivergent” social & environmental justice majors from Columbia.
Never use Hertz they will put a warrant out for your arrest and then not retract it even if it’s obvious you didn’t take the car because then police will ignore their dumb company. Hertz needs to die.
Why would anyone buy a new Tesla when there is going to be a huge supply of used teslas that further drops Tesla prices?
I bet whoever came up with that plan originally got a big promotion.
Lol
You’d think. But the CEO was let go for being too EV friendly.