Rental car giant Hertz’s big bet on electric vehicles hasn’t quite gone to plan. For a number of reasons, including worse-than-expected depreciation of its electric fleet, the company has been selling off EVs like mad.
Plummeting resale values are very bad for a company like Hertz, which has huge amounts of capital tied up in depreciating assets: its cars. But that same depreciation can be a boon for anybody in the market for a used EV. New electric cars are expensive, by and large. But if you’re down to buy secondhand, Hertz’s loss can easily become your gain.
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