Hertz's recent strategy allows renters to buy electric vehicles they've been renting, presenting offers that could be more appealing than traditional purchases, like a 2023 Tesla Model 3 for $17,913.
Facing lower demand and higher repair costs, Hertz has initiated a sell-off of a large portion of its EV fleet, which has contributed to unprecedented vehicle depreciation losses.
The offers to renters include attractive pricing, a 12-month powertrain warranty, and a buy-back option, indicating Hertz's push to shift its EV inventory quickly.
Hertz recorded $937 million in vehicle depreciation during the third quarter, signaling the depth of the impact from its aggressive fleet management and EV market challenges.
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