Fox News: Hertz Rental Company Selling Off 20,000 Electric Cars

HEINRICH As the Biden ░░░░░░░░ pushes Americans to buy ░░░░░░░░ cars Hertz is dumping ░░░░░░░░ 000 electric vehicles in ░░░░░░░░ massive selloff with the ░░░░░░░░ car company blaming the ░░░░░░░░ on higher repair costs ░░░░░░░░ EV depreciation Madison Scarpino ░░░░░░░░ live with the latest ░░░░░░░░ on this story for ░░░░░░░░ Madison this is very ░░░░░░░░ SCARPINO Yeah Jacqui Hertz ░░░░░░░░ one of the largest ░░░░░░░░ car companies in the ░░░░░░░░ and it plans to ░░░░░░░░ the money from selling ░░░░░░░░ Evs and put it ░░░░░░░░ more gas powered vehicles ░░░░░░░░ meet customer demand And ░░░░░░░░ you look at some ░░░░░░░░ that are up for ░░░░░░░░ on Hertz s website ░░░░░░░░ now some are listed ░░░░░░░░ as low as around ░░░░░░░░ 000 Clip starts HALVORSON ░░░░░░░░ in their filing seems ░░░░░░░░ indicate that it comes ░░░░░░░░ to money to cost ░░░░░░░░ cost a lot more ░░░░░░░░ repair Those battery packs ░░░░░░░░ extremely expensive to replace ░░░░░░░░ ends SCARPINO Back in ░░░░░░░░ Hertz committed to buying ░░░░░░░░ 000 Teslas to build ░░░░░░░░ its EV fleet but ░░░░░░░░ 2022 and the beginning ░░░░░░░░ 2023 the cost of ░░░░░░░░ started to drop and ░░░░░░░░ it s impacting costs ░░░░░░░░ the rental car company ░░░░░░░░ the Hertz CEO said ░░░░░░░░ an interview earlier this ░░░░░░░░ that the demand for ░░░░░░░░ is just not happening ░░░░░░░░ quickly as they expected ░░░░░░░░ at a level that ░░░░░░░░ keeping a fleet that ░░░░░░░░ Hertz says the sales ░░░░░░░░ these cars will bring ░░░░░░░░ around a 245 million ░░░░░░░░ starts FIX Their job ░░░░░░░░ to get those vehicles ░░░░░░░░ all the time If ░░░░░░░░ they re losing money ░░░░░░░░ each vehicle So getting ░░░░░░░░ of 20 000 of ░░░░░░░░ and hopefully finding homes ░░░░░░░░ those is a good ░░░░░░░░ Clip ends SCARPINO And ░░░░░░░░ this all comes as ░░░░░░░░ Biden Administration is granting ░░░░░░░░ million to help build ░░░░░░░░ EV charging network across ░░░░░░░░ country Jacqui HEINRICH Wow ░░░░░░░░ Scarpino for us thanks ░░░░░░░░ much. Griff?”