Source. (msn.com)
Hertz Global Holdings (HTZ) - Get Free Report, 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.
At one time Hertz had committed to having 50% of the fleet converted to EV.
[Source.](https://www.msn.com/en-us/money/markets/hertz-to-sell-20000-evs-buy-gas-powered-gas-amid-rental-demand-slump/ar-AA1mOciX)
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Hertz Global Holdings (HTZ) - Get Free Report, 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.
At one time Hertz had committed to having 50% of the fleet converted to EV.
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