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The move will ‘eliminate a disproportionate number of lower margin rentals and reduce damage expense associated with EVs,’ Hertz stated.
‘Mr. President, it is time to tap the brakes on the unrealistic government electric vehicle mandate,’ 3,882 car dealers say.
The true cost of EVs is masked by a litany of subsidies, transfers, and other expenses that are passed on to Americans who don’t own EVs, the report states.
The EV market is ‘a pretty brutal space,’ Mercedes CFO Harald Wilhelm said.
Demand for EVs doesn’t match the supply as private owners have been hit with a cost-of-living crisis, historically high inflation and high energy costs.
