Hertz, step back on electric cars: weak demand and high costs
The American car rental giant Hertz has decided to sell approximately a third of its electric cars 20 thousand cars. The decision to put a third of its electrics on sale and reorient itself towards traditional vehicles reflects an economic calculation based on two critical considerations: lower than expected demand And battery repair costs higher than initial estimates.
The slowdown in U.S. EV sales, with just a 1.3% increase in the final quarter of 2023, suggests market resistance to a rapid transition to electrification. Furthermore, the immediate impact on Hertz securitiesthat have recorded a loss of 2.30% before the market opens, reflects the market's reaction to this strategic decision.
READ ALSO: Car registrations on the rise. Electric boom in 2023 (+35%)
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