Hertz To Sell 20,000 EV’s Mostly Tesla / Replace With ICE Vehicles

[Blue highway]

I thought the M3 RWD no longer has any tax credit eligibility as of 2024 ?

hmm just checked looks like you are right... the RWD Y still gets it but not the RWD 3.

Still... if you take any pride in your vehicle a 70K mile rental car is not for you

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[Ghost Ryder]

hmm just checked looks like you are right... the RWD Y still gets it but not the RWD 3.

Still... if you take any pride in your vehicle a 70K mile rental car is not for you

Still can get it if you lease.

 

[sukhoi_584th]

I don't want an EV as a rental car. Trying to DCFC in an unfamiliar area, and especially right before returning the car when in a hurry would be a PITA.

 

[mccdeuce]

50k to 90k miles on them. They have made their money off them. They unload ICE like this also.
Anybody ever rent a car that had a 100k miles on it?

the more I think about this the more this whole thing reminds me of basically click bait.

this is the normal refresh time for rental cars. Did Tesla give them a big break when buying and now they are not for replacing? I just feel like there is more to this.

 

[Trick.Mach-E]

50k to 90k miles on them. They have made their money off them. They unload ICE like this also.
Anybody ever rent a car that had a 100k miles on it?

This is exactly what is going on. Hertz gets rid of cars every year when they reach a certain point. Why is it such a shock now just because it's EV's? Hertz is not going to keep any rental with close to 100k on them in service. Hertz knows any rental nearing 100k will be a maintenance nightmare. The paint will be scuffed. The interior will be one Petri Dish ingredient away from turning everyone in to a real version of The Walking Dead.

Like ICE fires that never get headlines like an EV fire... rental companies dumping thousands upon thousands of 3-4 year old ICE rentals will never get the headlines like EV's being dumped.

 

[1969Mach1Mike]

You must buy from a used car dealer. Don't know if Hertz meets the qualifications.

??????

Hertz has been a used car seller for more than 40 years. Its literally part of their business model to refresh the fleets. https://www.hertzcarsales.com/used-cars-for-sale.htm

 

[tfitzgex]

The high miliage m3s are likely uber rentals. I drive for lyft, I see these guys charge the rentals to 100% every.single.time. 3 or 4 times a day. They don't care about the car because it is a rental. I would never ever ever buy a used EV that was used as a rideshare.

 

[RickMachE]

??????

Hertz has been a used car seller for more than 40 years. Its literally part of their business model to refresh the fleets. https://www.hertzcarsales.com/used-cars-for-sale.htm

Right. I had forgotten that they had a specific sales division.

 

[Trick.Mach-E]

The high miliage m3s are likely uber rentals. I drive for lyft, I see these guys charge the rentals to 100% every.single.time. 3 or 4 times a day. They don't care about the car because it is a rental. I would never ever ever buy a used EV that was used as a rideshare.

It's not just EV's that are used for rideshare. ICE rentals are also available for ridesharing and they are just as bad. Matter of fact it's pretty much a bad idea to buy a used rental vehicle. EV or ICE. All rentals are abused and mistreated. Those who rent regularly know this. Anything older than 1 year with more than 20k almost always shows signs of abuse, wear and neglect.

 

[nvabill]

the more I think about this the more this whole thing reminds me of basically click bait.

this is the normal refresh time for rental cars. Did Tesla give them a big break when buying and now they are not for replacing? I just feel like there is more to this.

The difference is they are selling EV’s to be replaced by ICE vehicles, this is not a normal update to the fleet.

 

[nvabill]

This is exactly what is going on. Hertz gets rid of cars every year when they reach a certain point. Why is it such a shock now just because it's EV's? Hertz is not going to keep any rental with close to 100k on them in service. Hertz knows any rental nearing 100k will be a maintenance nightmare. The paint will be scuffed. The interior will be one Petri Dish ingredient away from turning everyone in to a real version of The Walking Dead.

Like ICE fires that never get headlines like an EV fire... rental companies dumping thousands upon thousands of 3-4 year old ICE rentals will never get the headlines like EV's being dumped.

The difference is they are selling EV’s to be replaced by ICE vehicles, this is not a normal update to the fleet.

 

[mccdeuce]

The difference is they are selling EV’s to be replaced by ICE vehicles, this is not a normal update to the fleet.

its being reported as non normal but the miles on the cars are normal.
so the question I have is when Hertz bought these did they get major incentive? What specifically are they replacing them with?

from a business perspective the style of car itself doesn’t matter as much as the deal that Hertz gets on buying them.

 

[apwelsh]

I think new cars are expensive to repair regardless of whether they're EVs or not. It's all the integrated radars, cameras and sensors. Look at all the threads here about how much a simple small damage to the MME cost to repair. The lights alone are $5000. I had my 2 side mirrors replaced under warranty, and the dealer charged Ford 3k.

It's not isolated to Tesla.

Nope, but pricing is outrageous for more reasons too. As the video discussed, $150k for F150 Lightning. Should be $30-40k. The MME should be $30-35k as well. It’s not going to get better. Everyone is focused on stock value, instead of the business itself, so they gouge the consumer. We don’t have income levels commensurate to the costs of these trucks. If they were priced right, we should be not have to finance more than 3 years to get the payment we can afford. Rather than fix the cost/wage imbalance, we keep increasing what is considered acceptable debt. They know Americans don’t make enough.

Consider 15% of take home is max that should go toward total vehicle expenses. 150k over 3 years at 0% is $4k/month. Who the heck makes $27k/ month or $333k a year take home pay — in America?

Until they get prices down, or wages go up considerably, they will all fail before the vision to electrify America can be realized. And I blame it all on the ridiculous trend today of makers by share holders rich.

 

[Ghost Ryder]

Nope, but pricing is outrageous for more reasons too. As the video discussed, $150k for F150 Lightning. Should be $30-40k. The MME should be $30-35k as well. It’s not going to get better. Everyone is focused on stock value, instead of the business itself, so they gouge the consumer. We don’t have income levels commensurate to the costs of these trucks. If they were priced right, we should be not have to finance more than 3 years to get the payment we can afford. Rather than fix the cost/wage imbalance, we keep increasing what is considered acceptable debt. They know Americans don’t make enough.

Consider 15% of take home is max that should go toward total vehicle expenses. 150k over 3 years at 0% is $4k/month. Who the heck makes $27k/ month or $333k a year take home pay — in America?

Until they get prices down, or wages go up considerably, they will all fail before the vision to electrify America can be realized. And I blame it all on the ridiculous trend today of makers by share holders rich.

What are you talking about? Starting a new product line is expensive. If Ford price the MME at what it would take for them to break even (not even make a profit) it'll be well north of 90k. They lose 36k per EV sold.

There are no lightning with an MSRP of 150k.

Here's an idea, if you can't afford a 150k truck, then don't get one. In what world do you think it's reasonable to think that everyone is owed a 150k truck?

Do you know what will happen if everyone all of a sudden everyone makes 333k/year so that they can afford a 150k truck? Yeah, that truck will cost 1 million. Things don't happen in isolation.

Consumer demands are always going up. Standard equipment on Honda civics were luxury options on Mercedes 10 years ago. All that cost money. We have a demand/expectation/spending problem.

 

[Gloff]

Nope, but pricing is outrageous for more reasons too. As the video discussed, $150k for F150 Lightning. Should be $30-40k. The MME should be $30-35k as well. It’s not going to get better. Everyone is focused on stock value, instead of the business itself, so they gouge the consumer. We don’t have income levels commensurate to the costs of these trucks. If they were priced right, we should be not have to finance more than 3 years to get the payment we can afford. Rather than fix the cost/wage imbalance, we keep increasing what is considered acceptable debt. They know Americans don’t make enough.

Consider 15% of take home is max that should go toward total vehicle expenses. 150k over 3 years at 0% is $4k/month. Who the heck makes $27k/ month or $333k a year take home pay — in America?

Until they get prices down, or wages go up considerably, they will all fail before the vision to electrify America can be realized. And I blame it all on the ridiculous trend today of makers by share holders rich.

Lightnings aren't 150k and they never have been, base MSRP is actually $49995, but in actuality, the available trucks are around 60k for standard range XLT. You can actually get an XLT Lightning for LESS than a gas powered one before tax credits. The XLT Lightning is actually a tremendous value vs a gas one, but range anxiety is very real on EV pickups that are used as pickups.

Mach E/EV6/I5/ID.4/MY/M3 are all available for at or below the average transaction price of a new vehicle in the US.

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