[C]ollision and damage repairs on an EV can often run about twice that associated with a comparable combustion engine vehicle, Hertz CEO Stephen Scherr said in a recent analyst call.
The MSRP declines in EVs over the course of 2023, driven primarily by Tesla, have driven the fair market value of our EVs lower as compared to last year, such that a salvage creates a larger loss and, therefore, greater burden, Scherr said.
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