Hertz USA say NO to EV… Dumps 20,000 Tesla Cars

Hertz USA say NO to EV… Dumps 20,000 Tesla Cars

Good afternoon I am back in the BMW X5 because it is far superior to all the other vehicles that I own which is pretty much exactly what Herz have said about their Teslas they’re getting rid of them because the petrol and Diesel is far superior so

20,000 that’s quite a lot Herz sells off 20,000 electric cars as drivers stick with petrol the rental giant expects to take a 19 million hit after blaming weak demand and high repair costs so basically what’s happened is the US rental giant Herz has bought a load of Teslas because they thought that

Everybody would want electric cars to rent out but they don’t hang on a minute don’t all the EV people always say that EVS don’t have any repair costs I thought that was the whole thing wasn’t it they don’t need servicing CU you don’t need to check the oil or change

The cam belts so why would they get rid of 20,000 cars that have a lower repair cost than an equivalent petrol or diesel It’s almost like that’s a lie isn’t it um Herz said it will sell the vehicles over the next year and expected to take

Uh 193 million pound or $245 million hit As It reversed plans to massively expand its electric car Fleet company is selling off a range of makes and models but is expected to offload thousands of Teslas more than 600 are already listed for sale on its website uh 3 years ago

Herz said they were going to buy 100,000 Teslas that a move that pushed Tesla’s market share Beyond a trillion dollars however Herz said that renting out electric cars had proved to be less profitable than traditional vehicles and the cars had also come with higher repair costs that bit is hilarious higher

Repair costs on a Tesla drivers also still want petrol and Diesel powered cars Herz said it would reinvest a portion of the proceeds from the sale of EVS into the purchase of internal combustion engines to meet customer demand basically we can translate that as saying it hasn’t worked we’re getting

Rid of all these EVS cuz they’re a crck of and we’re going to buy Petra ones like we should have done in the first place the selloff which applies only in the US does it does it really you’re telling me that if HZ in the UK own a load of

Teslas they’re not going to follow suit cuz you can guarantee the same thing will be happening the only people that rent electric cars are YouTubers who are trying to prove other YouTubers wrong as well as agreeing to buy 100,000 Teslas it committed to 65,000 vehicles from postar what did I just say Volvo’s

Electric subsidiary they’re all made in China it doesn’t count if you own a Volvo that’s after about 2001 not a proper Volvo last year it said a quarter of its Fleet would be electric by the end of 2024 however deliveries to date have been well below below those headline

Numbers company said the decision to sell thousands of cars was taken to better balance Supply okay calm down Jeff come on serious videos now listen to this the decision to sell off thousands of cars was taken to better balance Supply against expected demand of EVS nobody wants them this will position

The company to eliminate a disproportionate number of lower margin rentals and reduced damage expenses associate nobody wants them and they’re expensive to fix so we’re going to sell them all all of them I just translated that for you if you don’t speak marketing Herz said that investing in petrol powered cars would improve

Profitability do I need to do that one as well we make more money with cars that work than electric ones that don’t it added the it hoped to make electric car rentals more profitable in the future by expanding charging stations and improving access to repairs think about it though when you

Hire a car it’s because you need a car it’s not because you don’t hi can I hire a car yeah sure no worries um where do you need to go I I don’t really need to go anywhere to be honest oh yeah you’ll be sweet with an electric one think

About it when you hire a car it’s because you need to be somewhere H I’d like to hire a car um do you want to hire a petrol one or an electric one well what’s the difference well if you need to fill up your petrol one to go somewhere it takes approximately 4

Minutes and there’s pumps pretty much everywhere right what about the electric one well you’ve got to work to find an electrical charging place then you’ve got to wait around for 45 minutes and then you got to have an app the correct app and then you’ve got to pay for it

And it’s often more expensive than petrol right what why why would you hire the electric one there isn’t a single valid valid reason to hire the electric one not one except maybe if you’re hiring it in London for a day and going in why would you I’ve said this in all

My videos just don’t go to London seriously stop it Herz chief executive Steven sh said last year the plummeting value of used electric cars also made them less profitable data from car gurus compiled by HSBC showed the values of the top 10 used electric cars had fallen by 28% in

The US last year and 20% in the UK of course that’s probably on top of the percent that they fell the year before um they’re absolutely bombing don’t let the evangelists fool you by saying things like oh there were more electric car registrations than ever before in

2023 yes there were cuz the dealers can’t sell the electric cars so they are registering them and then pretending that they’re secondhand so then two things happen they say oh look the number of registrations for electric cars are up and they say oh look the number of secondhand sales for electric

Cars are up two things that are both true that are both manipulated data a brand new car with 9 miles on the clock cannot be claimed as a good thing for a registration and a good thing for a secondhand sale they can’t shift them look at the deals on Volkswagen ID

Buzzes right now they’ll basically pay you to rent one for a month they’re that cheap and that was a car with a 2-year waiting list rental car companies are heavily affected by Falling used prices cuz they regularly recycle their fleets buying cars new and selling them within

2 years that’s exactly how it works if a car has massive depreciation you can’t put it on your Fleet because that’s the way fleets work that’s the way there’s going to be a knock on effect in everything all of these companies that have been incentivized in the UK into

Buying electric cars they’re all pinned to the depreciation because the residual value matters so when we get this knock on a fact effect where companies are saying hang on a minute we bought 20 Teslas and we lost a fortune when we bought 20 diesel scoda superb after the

Three-year lease was up and they went to auction they all made reasonable money which meant that it didn’t cost us too much but with all of these electric cars we bought a most of them broke within the first three years anyway and B when they went to auction nobody wanted them

A yeah government can we go back to diesel cuz it just worked better for us as a business it’s all got to happen herch sells used cars directly on its website and was selling model 3 vehicles for as low as $17,700 less than half the price of a

New model the vast majority of electric cars currently listed for sale are Tesla’s although it said the sale of 20,000 cars would cover multiple makes and models Herz shares fell by almost 5% on Wall Street I think that if you want to buy a Tesla and you’re in the USA

Right now that is a bargain go and buy a Herz Tesla for about $20,000 and you have got yourself a cheap car if a Tesla works for you but the problem is for the vast majority of normal human beings electric cars don’t work as has been proven by Herz Renta

Car yeah nobody wants some nobody want some apart from all the people that do and they hate you and they absolutely hate me but they love themselves and as Lee would say the smell of their own farts but honestly Mo I know I’ve got some followers that drive electric cars

And I know you’re in the comments and and when electric car people comment in my videos I always try to say thank you because I try not to be abusive to electric car people I I don’t call them baz trouser wearing dogging swinging Triangle sandwich eating lunchbox people like one of my friends

Does but I just feel like these car these electric cars they need to be sold on their merits and their merits are very few or their merits only apply to a very small amount of people I know that I have followers who have electric cars and an electric car works for you that

Is brilliant I don’t have a problem with someone buying a $20,000 Tesla and running it for virtually free because they can charge it at home that’s fantastic but for most of us it doesn’t work hope you enjoyed that video thanks for oh hit the Subscribe button as well cuz when I get to

115,000 subscribers I’m going to give away a car in a treasure hunt a free car or you’ll have to do is watch the video to find out where the car is and then film yourself trying to get there before everybody else does when I get to 115,000 subscribers that’s what I’m

Going to do because I didn’t really do anything to celebrate 100,000 but 115,000 I’ll be pleased with that uh and you could probably work out while thank you very much for watching enjoy your weekend

Hertz has decided that EV’s don’t really work for them, and announced that it will be selling TWENTY THOUSAND Tesla cars in the coming months.

LINK:
https://www.telegraph.co.uk/business/2024/01/11/hertz-sells-tesla-electric-cars-drivers-stick-with-petrol/?WT.mc_id=e_DM261546