Hertz is Selling 20,000 Electric Vehicles To Buy Gasoline Cars Instead

quonset writes: Hertz rental has announced it's selling off one third of its 20,000 electric vehicle fleet and replacing them with gas powered vehicles. The reason? It's costing them too much to repair damaged EVs and their depreciation is hurting the bottom line.

'[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.

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