TESLA EVS ARE JUST TOO EXPENSIVE TO OWN - SAYS HERTZ CEO

EV Channels Review

The CEO of Hertz is reportedly slamming the brakes on the company's ambitious EV fleet expansion, primarily due to the high operating costs and poor resale value of Tesla vehicles. The transcript highlights that Hertz's initial plan to acquire nearly 200,000 EVs, including 100,000 Teslas, has proven to be a costly misstep. The reviewer criticizes the "green virtue signaling" aspect of the deal, suggesting it lacked a solid business case. Key issues cited include the significant expense of maintaining the EVs and their rapid depreciation, which has led to substantial financial losses for Hertz. The review also touches upon Tesla's own challenges, such as price slashing and increasing competition, suggesting a potential collapse of the brand if price cuts are its only strategy. Ultimately, the video argues that Hertz's focus on appearing "woke" has detracted from its core business of providing reliable rental services, leading to a costly and unsustainable EV strategy.