https://qz.com/hertz-ceo-stephen-scherr ... 1851341889
Last month, Hertz announced its biggest quarterly operating loss since 2020, going from a profit of $464 million to a loss of $348 million.
Scherr blamed EVs. The cars were more expensive to maintain than Hertz had initially thought, and the company couldn’t make as much money selling them when it needed to refresh its offerings. Hertz said it got rid of a third of its EV fleet.
“We obviously took and are taking 20,000 cars out,” Scherr told investors in February. “We think we’ve landed on an EV fleet that meets demand. But I can assure you, if those numbers don’t scratch to an adequate return, then we will take further action against that fleet.”
Mandating dead end tech is always a loser.
Last month, Hertz announced its biggest quarterly operating loss since 2020, going from a profit of $464 million to a loss of $348 million.
Scherr blamed EVs. The cars were more expensive to maintain than Hertz had initially thought, and the company couldn’t make as much money selling them when it needed to refresh its offerings. Hertz said it got rid of a third of its EV fleet.
“We obviously took and are taking 20,000 cars out,” Scherr told investors in February. “We think we’ve landed on an EV fleet that meets demand. But I can assure you, if those numbers don’t scratch to an adequate return, then we will take further action against that fleet.”
Mandating dead end tech is always a loser.
statistics: Posted by Rebcop — 3:38 AM - 1 day ago — Replies 2 — Views 76