Page 14 - Ertz News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Ev Depreciation: Tesla cuts Model 3 prices in China, making them more affordable; Hertz sells part of its EV fleet and buys gasoline-powered vehicles instead; falling EV costs benefit consumers but hurt fleet owners; Hertz's decision to buy 100,000 Model 3s looks foolish; depreciation risk for rental companies; EV price parity with gasoline cars causes depreciation headache; consumer demand for EVs may saturate as production ramps up; ideal time to buy for rental companies and individual car owners.

Car hire company Hertz is planning to sell a third of its global fleet of electric cars and will use some of the funds to buy vehicles with combustion engines instead, the company says. Making the announcement in January, Hertz said the decision was prompted by the need to adapt its vehicle range to suit current customer demand. Over the course of the year, 20,000 electric cars of various brands are to be sold in the United States. Hertz said it was prepared to accept an additional write-down of

Just as surprisingly as it started, Hertz's drive to go electric has ended. The car rental company announced that it's selling about a third of...

Hertz expects to take a loss of about $245 million due to depreciation on the EVs, an average of about $12,250, per vehicle.

The company has listed 607 ex-rental Teslas, including many smaller Model 3s cars, on its used car sales page.