Hertz is doing everything to get rid of its electric cars

Hertz really wants to turn the page on electric. The rental company is trying at all costs to get rid of its latest battery models. The company even goes so far as to contact its customers, people who rent electric vehicles, to offer to buy the car instead of returning it.

At Hertz, electrification has definitely not been a success. That’s the least we can say. The significant depreciation of vehicles, particularly Teslas, caused the company to lose a lot of money. After organizing a giant clearance sale to try to sell nearly 30,000 electric cars, the rental company is going even further.

Electric cars at knockdown prices

According to the American media The VergeHertz would try to resell its latest electric cars to its own customers. For example, a tenant would have been offered a 2023 Chevrolet Bolt for $18,442. Another a 2023 Tesla Model 3 with 30,000 km for only $17,913. Or a Polestar 2 for $28,500.

To convince its customers to leave with the car they rent, the company even offers a 12-month, 20,000 km warranty on the powertrain and promises a return within 7 days. This behavior is not unusual among a rental company, but the offers concerning electric vehicles are particularly interesting.

Jamie Line, director of communications at Hertz, specifies that “ this campaign allows us to offer great opportunities to customers who wish to buy a similar car “. The firm recorded an overall depreciation of $937 million across all of its vehicles during the third quarter of 2024.

Or approximately $537 per unit. This represents a significant increase compared to the previous year. The American rental company said it expected depreciation to fall back below $300 per vehicle by the end of 2025.