Off Topic » Hertz dumping 20K EVs on to the used car market

I saw an article in my newspaper recently (which I managed to misplace) that said that Hertz was selling off 20,000 of their electric rental cars. They gave several reasons for doing so, such as the cost to maintain them, the cost to repair them, the fact that they were getting into accidents more than their ICE cars, and the rapid drop in resale value of the cars. The article seemed to imply that Tesla's were the biggest thorn in their side.

Other recent articles have said that the public's interest in buying EVs is dropping. Interestingly, yesterday I heard a radio news report which reported that Toyota was designing and planned to manufacture a new type of ICE engine. It is starting to look like the vehicle market is not going to be ready for many countries mandate that no more ICE-powered cars be sold starting in 2035 (or earlier in some cases).

And of course, no one seems to know what is going to happen to the motorcycle market in eleven years. It would appear that the major motorcycle manufacturers are not exactly embracing the new technology and are likely just hoping that any ICE sales ending mandate will just fade away. it is certainly true that electric motorcycle startups don't seem to be making any money or even staying in business for very long.

Zitat von Richard230 im Beitrag #1

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I saw an article in my newspaper recently (which I managed to misplace) that said that Hertz was selling off 20,000 of their electric rental cars. They gave several reasons for doing so, such as the cost to maintain them, the cost to repair them, the fact that they were getting into accidents more than their ICE cars, and the rapid drop in resale value of the cars. The article seemed to imply that Tesla's were the biggest thorn in their side.

Other recent articles have said that the public's interest in buying EVs is dropping. Interestingly, yesterday I heard a radio news report which reported that Toyota was designing and planned to manufacture a new type of ICE engine. It is starting to look like the vehicle market is not going to be ready for many countries mandate that no more ICE-powered cars be sold starting in 2035 (or earlier in some cases).

And of course, no one seems to know what is going to happen to the motorcycle market in eleven years. It would appear that the major motorcycle manufacturers are not exactly embracing the new technology and are likely just hoping that any ICE sales ending mandate will just fade away. it is certainly true that electric motorcycle startups don't seem to be making any money or even staying in business for very long.

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Another news item that popped up earlier this week is that the city of San Jose, CA is proposing to require new apartment building developments to install an EV charging outlet next to every parking stall that they provide for their complex. That is going to do nothing to lower the very high construction costs in that city, plus can you imagine the ongoing maintenance costs for those outlets? I bet they would get vandalized every night, as that seems to be the sort of things that some young people like to do for fun in the SF Bay Area? My guess is that trial balloon might not float very high before it deflates.

Zitat von wessie im Beitrag #3

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looks like the story dropped on Reuters and has appeared elsewhere over the last couple of days
https://www.reuters.com/business/autos-t...eet-2024-01-11/

I think retail sales of EVs in the UK have tempered..... Will the retail buyer in the used market have any interest in a 3 year old Jaguar E-Pace with 50,000 miles on the clock?

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Add this to the great questions ............. Why?

Car Insurance.jpg - Bild entfernt (keine Rechte)

Based on the latest BLS inflation numbers, car insurance inflation is a major factor in elevating the US inflation rate. Someone is making money.

Zitat von Richard230 im Beitrag #4

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Another news item that popped up earlier this week is that the city of San Jose, CA is proposing to require new apartment building developments to install an EV charging outlet next to every parking stall that they provide for their complex. That is going to do nothing to lower the very high construction costs in that city, plus can you imagine the ongoing maintenance costs for those outlets? I bet they would get vandalized every night, as that seems to be the sort of things that some young people like to do for fun in the SF Bay Area? My guess is that trial balloon might not float very high before it deflates.

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Not surprised at the Hertz EV fleet being sold off. Good to see Kawasaki are still developing ICE alternatives. Although I was surprised to find panniers are just for fuel storage 🤔

It's in the duck curves. You've got the power generation, it needs to be stored until the time of day demand can use it.

https://www.eia.gov/todayinenergy/detail.php?id=61202

Zitat von wessie im Beitrag #9

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Zitat von Mr. 36654 im Beitrag #6

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Add this to the great questions ............. Why?


Based on the latest BLS inflation numbers, car insurance inflation is a major factor in elevating the US inflation rate. Someone is making money.

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Similar here with insurance inflation and risk aversion.

I am reading that a lot of people in London are finding it increasingly difficult to source insurance for new motorcycles. There seems to be an aversion to write a policy for any new bike costing over £15,000. Those who have ordered new R1300GS are getting quite stressed.

Based on the recent figures coming out from Shell, Tesco, Aldi, Lidl etc, these large corporates have been using the excuse, "sorry, not our fault, it's inflation, gov" to massively profiteer. Our government has been doing the same with their tax take on the increased turnover and wage inflation (especially as they have frozen the 0% income tax band, bringing more people, like students, parents and older people into paying tax on part time earnings over £12570)

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Here is a link to a short CBS news article regarding Hertz selling some of their EV inventory: https://www.cbsnews.com/news/tesla-cars-...count-ev-fleet/

Speaking of car insurance, yesterday I received a refund check from my car insurer CSAA in the amount of $6.10. I have no idea why they refunded that amount for a policy that I just renewed and I don't want to go to the trouble to call them to find out what it is for. They might realize that it is a mistake. You just never know. When it comes to refund checks from an insurance company I just take the money and run.....

I wonder if Watts, their competitor, will buy up the EVs.

The claim of dumping is interesting. These are 3 year old cars (2021 model year) being offered at 61.4%. That's the standard valuation of a luxury car (BMW, MB or Lexus) at the end of a 3-year lease.