Hertz is accelerating its sales of Tesla vehicles and plans to sell tens of thousand more this year as their value crumbles.
Back in 2021, Hertz announced an important effort to electrify its fleet of rental cars, led by a massive purchase of 100,000 Tesla Model 3 vehicles. Later, the company added Model Y vehicles to the order.
The rental company’s Tesla fleet grew over the last few years, and it reported that Tesla vehicles are increasing Hertz’s customer satisfaction.
But the honeymoon phase ended quickly as Tesla started slashing Model 3 and Model Y prices in 2022 and 2023, resulting in crashing the resale value of its vehicles.
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