The electric vehicle push comes up against the reality of COST…….
And Tesla….
Hertz, which has made a big push into electric vehicles in recent years, has decided it’s time to cut back. The company will sell off a third of its electric fleet, totaling roughly 20,000 vehicles, and use the money they bring to purchase more gasoline powered vehicles.
Electric vehicles have been hurting Hertz’s financials, executives have said, because, despite costing less to maintain, they have higher damage-repair costs and, also, higher depreciation.
“[C]ollision and damage repairs on an EV can often run about twice that associated with a comparable combustion engine vehicle,” Hertz CEO Stephen Scherr said in a recent analyst call.
And EV price declines in the new car market have pushed down the resale value of Hertz’s used EV rental cars.
“The MSRP declines in EVs over the course of 2023, driven primarily by Tesla, have driven the fair market value of our EVs lower as compared to last year, such that a salvage creates a larger loss and, therefore, greater burden,” Scherr said.
Simply put, people are generally willing to pay a certain amount less for a used car than for a new one. As the price of new car goes down, that also pushes down what people are willing to pay to buy a used one.
Hertz expects to take a loss of about $245 million due to depreciation on the EVs,…
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Besides costing more to repair when they’re damaged in a crash, Scherr also said, EVs are also getting in more crashes. Again, Teslas, which make up 80% of Hertz’s EV rental fleet, are mostly the problem in both these areas, he has said….
You remind me of the guy driving his horse and buggy as a new gas powered car passes him yelling to his horse,” don’t worry Betsy they ain’t getting me into one of those things.”
They STILL have those everywhere…….
EV’s are nitch vehicles right now……
And yes the planet IS getting Warmer…….
But for humans?
It comes down to COST on just about EVERYTHING
Don’t matter what yo say or think
BTW…..
Two electric vehicles were destroyed in a Wednesday house fire in Washtenaw County.
Crews from the Scio Township and Dexter fire departments were called to the 3900 block of Prospect Court in Scio Township around 11:30 a.m. on Wednesday…
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Electric vehicles fires can be more complicated than those of a standard gas car, Houde said. Fires involving lithium-ion batteries, which are often used in electric and hybrid vehicles, are generally resistant to water and must be allowed to burn out.
This fire was the first involving an electric vehicle that Scio Township has handled, he added.
“Lithium batteries are new challenge,” Houde said….
More…
Do you have any statistics on gas powered vehicle fires Herman ?
Oh you don’t give a damn about” price.”
You’re just opposed to them because you couldn’t care less about global warming ( very Republican of you I might add).
Amusingly you blithely add”.. the planet is getting warmer.”
Then proceed to bash electric vehicles.
You don’t matter though.
Electric vehicles are the future whether a you like it or not.
Can’t wait to hear you yakking the next time gas prices go up!
I say AGAIN……..
Gas is at $2.93 a gallon round my way…..
When i fill up my Chevy SUV?
I pull up and pay and pump in about 7 minutes and i’m on my way passing the Tesla recharging for how LONG?
I REPEAT……
EV’s comprise about 6% of American vehicles on the road……
I have nothing against them…..
But right now?
Govt. rebate and all ?
They are niche vehicles
That’s All…….