Hertz CEO says buying EVs was a big mistake and very costly to the company margins

If Hertz delivers a fully charged car it isn't an issue for many business travelers. I've been a heavy business traveler in the past and rarely put more than 50 miles on the cars. Just needed to get from the airport to the branch office I was visiting, that's it.
For you (and a small % of business travelers), it may work. In my industry, there’s a grand total of 2 plants within 50 miles each way of major airports, so… 👍🏻
 
I already explained this above. I did not get the tax credit either. I should be rioting right now.

Sorry I don’t fit the mold you think I came from. Sorry that I’m not the upset EV owner that you think I should be. I bought a car to use for 10 or more years. I was going to buy it either way and I’ll buy another. It’s a depreciating asset anyway. Am I supposed to profit from a write off check? No, it’s intended to replace the car. It doesn’t matter if the value of the car drops if it covers the replacement. You want to try and break this down and talk down to me about this too?

If you want some real insight to what the story says, it sounds like people whining that they took out 100% financed loans and now owe more on the car than it's worth by a larger margin than what it was when they first drove off the lot. Here's my insensitive side. Broke people borrowing money because "I can afford the payments". That's not how I do things. My finances aren't ruined by a price drop on a car. We all complain about inflation, but one company finds a way to legitimately lower the price on a vehicle and we're all up in arms.

I feel for people, I really do. I used to be that person, but I don't spend every dime I make to pay payments on vehicles I can't really afford. It's a vicious never ending cycle. Look at all the people who live paycheck to paycheck and then something happens to their paid off car and instead of fixing it they somehow find a way to start making the payment on a new car. That money didn't come out of thin air. It's not a financial problem, it's a behavior problem.

Does this explain a bit better why I'm not bothered by the price drops? I can get angry about something outside of my control, but if a price drop on something because I could barely afford the payments on an expensive car would be a me problem, not a Tesla problem. I don't have a crazy financed loan of more than the car is worth with a massive payment.
 
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The CEO misjudged the quantity of Teslas that were purchased. Nothing wrong with having some available either for current owners of Teslas to rent if they were travelling and who were already familiar with their operation, or for those who were curious and wanted to try one out.

But there were many reports of customers showing up to rent their car and finding out a Tesla was the only thing available. Not a good thing for tired and stressed out travelers who have already been through enough with the airlines.

A smart plan to buy some Teslas but poorly executed by someone who didn't do their homework before committing to a massive purchase of EV's.
Yeah. My dad rented a model y a few weeks ago. Lets say I'm not sure why people go crazy for these things. The interior is terrible, the ride was awful it wondered all over the road. I've ridden in many a sports car and have a street legal fb rx-7 that gets track time and none ride as rough as the Tesla did. Hertz forgot to add the adapters for charging. I keep hearing about how quiet electric vehicles are. It had way too much road noise.Call me when i can charge one to full with 600 miles of charge in 5 minutes.
 
Funny, I have borrowed my parents ID.4 for weeks at a time since they travel a lot. I find it very easy to adapt to and not a huge pain at all.

Now I will agree that a 120v charger is worthless if you need to get somewhere. It's fine if you don't drive a lot, like I don't. I am able to keep the ID.4 80% full using phase 1 only, not that hard if you're charging in the garage and only go to the office2 times a week max, but 1 time most weeks. Of course if I owned one, I'd get a Phase 2 charger put in.
So electric cars are great if you don't drive much. I would agree with that but that is the problem. Most people need a car they can use often
 
Yeah. My dad rented a model y a few weeks ago. Lets say I'm not sure why people go crazy for these things. The interior is terrible, the ride was awful it wondered all over the road. I've ridden in many a sports car and have a street legal fb rx-7 that gets track time and none ride as rough as the Tesla did. Hertz forgot to add the adapters for charging. I keep hearing about how quiet electric vehicles are. It had way too much road noise.Call me when i can charge one to full with 600 miles of charge in 5 minutes.
For some reason I just pictured this for charging speed.

😆
marty-the-delorean-time-machine-and-a-bolt-of-lightning-zpsyyd4s0zl-jpg.webp
 
So electric cars are great if you don't drive much. I would agree with that but that is the problem. Most people need a car they can use often
I can use it every day and plug it in everyday if I need to. I drive a lot and while I have extreme examples, I tend to do between 80-150 miles on days that I work which is doable with only charging at home. I'm sure you're the rare 500+ miles a day rare case though.
 
The Hertz I rented from had a 80% policy. They had someone who drove over to the supercharger and sat there to charge then. Not a great business practice.

The $35 charging fee seems like something that'll turn off people from renting it a second time or not care about charging when bringing it back since time is money.

Screenshot 2023-10-27 at 5.45.19 PM.webp
 
and zero knowledge that they would cost almost 100% more then ICE vehicles to maintain.
But who would have thought they were being swindled at the time?
It's amazing how some big companies just love to step on their own feet and mess up their companies. The lack of common sense and stupid decisions, good thing is, Hertz will get out of this one and consumers might pick up a bargain.
Another example of major mis-steps would be something like that beer company.

The article you referenced doesn't say that either, unless you are quoting another source.

Unless you meant to say 100% more than ice to repair?
 
I like EVs and own a Tesla. But I wouldn't rent one on a business trip or vacation.

As several of us have said, if you have a regular place to park and your own charging system an EV is easy to manage and nearly ideal. I'd highly recommend one for that situation. But keeping an EV charged otherwise (such as when you're a long way from home) takes a lot of effort. And who wants to do that on a business trip or vacation?

I wasn't able to pull up the article (paywall) but it sounds like they were renting Model S's. Model S's seem to have more repair problems than the average vehicle. They last a long time (reportedly hundreds of thousands of miles) but there will be repairs (some expensive) along the way. And if you add in the occasional abuse you might expect a high powered rental vehicle to receive you're asking for trouble.

The failure of a poorly thought out and poorly implemented plan is no reflection on EVs or on Tesla.
 
I already explained this above. I did not get the tax credit either. I should be rioting right now.

Sorry I don’t fit the mold you think I came from. Sorry that I’m not the upset EV owner that you think I should be. I bought a car to use for 10 or more years. I was going to buy it either way and I’ll buy another. It’s a depreciating asset anyway. Am I supposed to profit from a write off check? No, it’s intended to replace the car. It doesn’t matter if the value of the car drops if it covers the replacement. You want to try and break this down and talk down to me about this too?

If you want some real insight to what the story says, it sounds like people whining that they took out 100% financed loans and now owe more on the car than it's worth by a larger margin than what it was when they first drove off the lot. Here's my insensitive side. Broke people borrowing money because "I can afford the payments". That's not how I do things. My finances aren't ruined by a price drop on a car. We all complain about inflation, but one company finds a way to legitimately lower the price on a vehicle and we're all up in arms.

I feel for people, I really do. I used to be that person, but I don't spend every dime I make to pay payments on vehicles I can't really afford. It's a vicious never ending cycle. Look at all the people who live paycheck to paycheck and then something happens to their paid off car and instead of fixing it they somehow find a way to start making the payment on a new car. That money didn't come out of thin air. It's not a financial problem, it's a behavior problem.

Does this explain a bit better why I'm not bothered by the price drops? I can get angry about something outside of my control, but if a price drop on something because I could barely afford the payments on an expensive car would be a me problem, not a Tesla problem. I don't have a crazy financed loan of more than the car is worth with a massive payment.
I couldn't care less what you buy, what you can afford or not. I would not be happy if they dropped the price of the car after I just paid 6K more for it. I get it no one wants to admit they took a hosing, If the dropped the price by reducing some content I can see that.
 
I couldn't care less what you buy, what you can afford or not. I would not be happy if they dropped the price of the car after I just paid 6K more for it. I get it no one wants to admit they took a hosing, If the dropped the price by reducing some content I can see that.
I get what you're saying, but it's wasted energy. It also happened months after I took delivery. Maybe I'd feel different if it happened the week after, but I really didn't give it a second thought other than car shopping to replace the GTI and never pay for gas again if the numbers made sense.
 
You think the high paid CEO would realize, you go all the way with the investment, not keep the chargers in shipping box, have the car fully charged. Have the customer pay for what he used because that can be easily spit by the computer. Then have the head guy of the cleaning crew plug it in to the high rate charger, then move it to the pick up lot. It’s not brain surgery.
 
I'm surprised that they didn't just get them as a lease from the manufacturer but purchase them instead. What kind of crazy bet are they doing?
 
Rental EV's just sounds like an oxymoron.

  • People don't take as much care of a rental as they do their personal cars.
  • Repair costs will be much higher.
I wouldn't say it is EV but rather Tesla.

Tesla has a lot of body parts shortage after collision, there is nothing special about an EV fender and bumper but they have shortage. It is just Tesla not acting like a mature company and they are hurting their customers as a result. Another EV based off a gas car would have no problem. Another exotic low volume gas car would also have this problem.

You don't do much about an EV, they are all software limited to within what it can tolerate. Whether the company you buy from is competent is another matter, so just, buy from a responsible mature company. At least in a gas car you can wear out something if you didn't drive it right, but in EV it is all the design's fault if normal driving allows it to wear out prematurely in rental.
 
You think the high paid CEO would realize, you go all the way with the investment, not keep the chargers in shipping box, have the car fully charged. Have the customer pay for what he used because that can be easily spit by the computer. Then have the head guy of the cleaning crew plug it in to the high rate charger, then move it to the pick up lot. It’s not brain surgery.
You’ve got the wrong company.
 
I can use it every day and plug it in everyday if I need to. I drive a lot and while I have extreme examples, I tend to do between 80-150 miles on days that I work which is doable with only charging at home. I'm sure you're the rare 500+ miles a day rare case though.
Driving 80-150miles daily isn't possible with a 110v charger unless you absolutely don't leave after getting home. That would still be pretty nerve racking getting the battery down to 20% or whatever.
 
Dude...if you wreck the car, it needs fixed.
You totally missed the point.

People say that there are fewer parts than ICE. False unless you consider the thousands upon thousands of parts in a battery as one single part. The reality is that there are more and more sensitive parts.

People say that the cars never need to get maintenance. Of course we know that there are lubricated systems in these, coolant chemistry to be maintained, rubber parts, suspensions, brakes, etc.

It’s just such a farce to make statements on what is essentially a new fleet of cars, without seeing the long term ramifications. That goes waaaaay beyond fixing a car when wrecked, which is its own issue because a wrecked car could have liability with the battery. Even baking the car in a paint booth is an issue with the battery inside.

So there’s much more to it than your comment….
 
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