By Daniel Stefanski |

A major vehicle rental company is offloading thousands of electric cars in its fleet.

In a January 11, 2024, filing with the U.S. Securities and Exchange Commission, Hertz Global Holdings, Inc. wrote that it had “made the strategic decision to sell approximately 20,000 electric vehicles (EV) from its U.S. fleet, or about one-third of the global EV fleet.” Hertz plans on “reinvest[ing] a portion of the proceeds from the sale of EVs into the purchase of internal combustion engine vehicles to meet customer demand.”

Hertz added that the sale of these vehicles would “position the Company to eliminate a disproportionate number of lower margin rentals and reduce damage expense associated with EVs.” When addressing the financial results for the fourth quarter of 2023, Hertz asserted that “expenses related to collision and damage, primarily associated with EVs, remained high in the quarter, thereby supporting the Company’s decision to initiate the material reduction in the EV fleet.”

The Vice-Chairman of the Arizona Senate Committee on Transportation, Technology and Missing Children, Senator Frank Carroll, addressed this announcement from Hertz, telling AZ Free News, “When one of the largest worldwide vehicle rental companies decides to sell off a third of its electric vehicles, we should pay attention. This move sheds light on the lack of demand and increased costs associated with EVs, which is why we need to continue to stand up against liberal extremism attempts to force every American to transition to electric cars. Hertz hopped on the EV experiment and paid the price.”

Daniel Stefanski is a reporter for AZ Free News. You can send him news tips using this link.