Hertz Offers EV Renters Discounted Purchase Deals to Reduce Fleet

The rental giant is scaling back its electric vehicle fleet after facing financial losses, low demand, and high maintenance costs.

Hertz is contacting EV renters with offers to purchase their rental vehicles at discounted prices, including Teslas, Chevy Bolts, and Polestars.
Examples of deals include a 2023 Tesla Model 3 for $17,913, a Chevy Bolt for $18,442, and a Polestar 2 for $28,500, all with a limited 12-month, 12,000-mile warranty.
The company is scaling back its EV fleet after reporting financial losses attributed to low demand, high repair costs, and reduced resale values for electric vehicles.
Hertz originally planned to electrify its fleet with large orders from Tesla, GM, and Polestar but has since canceled or reduced these commitments.
Critics cite insufficient charging infrastructure and poor execution of the EV strategy as key factors in the company's struggles with its electrification efforts.