Hertz DUMPS 20,000 EVs to buy GAS cars! | MGUY Australia
This may very well turn out to be one of the most expensive virtue signaling experiments in Us corporate history back in October last year Herz first showed signs of backing away from its suicidal EV strategy in which it announced back in 2021 that it was buying no less than
100,000 Teslas for its rental Fleet it said that due to increased collision and damage repair costs it would be purchasing EVS at a slower rate than previously planned there are so many reasons why EVS are possibly the worst choice for vehicles for rental companies but apparently none of these will raise
At the time reasons such as they are way more expensive to purchase in the first place they’re more expensive to repair when they get damaged they’re more likely to get into accidents than regular cars due to stupid levels of Tor they have catastrophic depreciation and woeful residual value when they’re sold
On and most importantly nobody wants them s seriously when you’re in a strange country and you want reliable practical transportation for you and your family what sane person is ever going to choose an EV with all the hassle of charging and worries over range over a standard gas car but this
Didn’t stop Herz from plowing ahead with electrifying its Fleet in order to appease the ESG zealots in the boardroom a decision which barely 2 years later has come spectacularly full circle as Herz offloads its ghastly Teslas and buys back gas cars instead seriously you couldn’t make this stuff up if you’re
After Eevee and Net Zero sanity you’ve come to the right place welcome to mguy British engineer and lawyer now Sydney YouTuber if you like my videos and content please be sure to like share and subscribe hit the notification Bell and drop a comment down below let’s take a
Trip down memory lane to remind ourselves how Herz was fated by the Biden White House for it decision to drink the EV Kool-Aid in a tweet from March 2023 Herz brag this morning Herz was recognized by the White House for our efforts to expand access to electric vehicles
Across the country demand for Ev rentals is growing and we’re here to help our customers Electrify their travels # Herz letsgo # Herz EV the Biden government called out Herz in its electric vehicle fact sheet for committing to substantially increase its electric vehicle rentals this year forecasting
Nearly 2 million EV rentals in 2023 approximately five times the number of EV rentals in 2022 and extending the electric vehicle experience to Leisure and business Travelers and ride share drivers across the country and as recently as this month Herz was continuing to plug its EV Fleet on
Twitter x with some truly awful and cheesy video clips like this one on January the 3rd watch this before you rent an EV from Herz just gotten the Tesla super excited first thing I noticed check out that touch screen it’s an incredibly smooth and quiet ride and
The huge sunroof makes for a beautiful drive when it was time to recharge I located a charging station using Tesla’s built-in navigation system easy woo let’s go and before I knew it I was home for the holidays and officially a fan of EVS thanks Herz or this one in December
Which seems to say that 10 charges for your journey which may take an hour or more each is a good thing But barely a few days later the story was somewhat different White House praised Herz for accelerating the EV transition months before company began dumping EVS Herz calls mass selloff of electric vehicle inventory a strategic decision the White House praised Herz one of the four largest car rental
Companies in the world for its efforts to substantially increase electric vehicle EV rentals months before the company announced it would largely abandon EVS over increasing costs on Thursday Herz Global Holdings announced in financial filings that it made the Strategic decision to sell approximately 20,000 EVS from its us Fleet or about
Onethird of its Global EV Fleet according to the documents filed with the Securities and Exchange Commission herz’s sales of EVS began in December and will continue in an orderly fession throughout 2024 and a portion of the proceeds from those transactions will be invested in new gas powered
Cars the company expects this action to better balance Supply against expected demand of EVS the company stated before pointing to the high costs of managing EVS this will position the company to eliminate a disproportionate number of lower margin rentals and reduced damage expense associated with EVS the company
Will continue to execute its strategy around EV mobility and offer customers a wide selection of vehicles going forward the company will continue to actively manage the total size of its EV Fleet as well as the allocation of EVS among customer segments including Leisure corporate government and ride share it
Continued this if you haven’t worked it out is corporate gobbley for the following nobody wants EVS they’re too expensive so we’re getting rid of them to buy gas cars that people actually want which is an astonishing turnaround in barely 2 years and to actually admit to having to
Reinvest in gas cars is the final humiliation in this story of corporate virtue signaling gone bad we can only imagine the blood on the walls of the Herz boardroom at this utter debark will it make any difference to the whole EV push probably not governments will
Continue to push EVS against the will of the majority of the people until they start getting voted out which may take a long time and sad to say a lot of damage can be done to our economies before that finally happens that’s it for this video thanks very much for watching hope you
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