20,000 Used Electric Vehicles Hit The Market As Hertz Runs From Renting EVs

Hertz Global Holdings, the U.S. rental car giant, is planning to dump around a third of its global fleet of electric vehicles amid a slump in resale prices and a surge in repair costs.

The group said it would sell around 20,000 EVs this year and reinvest the proceeds to buy traditional gas-powered cars.

Hertz said EVs currently comprise around 11% of its overall fleet, and the sales add around $245 million to its fourth-quarter earnings.



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