(Boursier.com) — Hertz Global Holdings will sell around 20,000 electric vehicles from its American fleet, or around a third of its overall EV fleet! The American car rental group intends… to reinvest part of the proceeds from the sale of EVs by purchasing gasoline vehicles in order to meet customer demand, according to a regulatory notice. The group has observed low demand for the rental of its electric vehicles. The sales would represent a depreciation of approximately $245 million in the fourth quarter of 2023. The measures should improve adjusted corporate Ebitda this year, but they will weigh on the fourth quarter of 2023…
Collision and damage costs for electric vehicles remained high in the fourth quarter, the group said. The depreciation charges announced for Q4 are in addition to those of depreciation that the group plans to record during the quarter as part of the normal management of its fleet. Hertz will continue to offer EVs but will implement measures to increase profitability, developing infrastructure such as charging stations and strengthening relationships with vehicle manufacturers. Hertz “will continue to actively manage the total size of its electric vehicle fleet, as well as the distribution of electric vehicles between customer segments, including leisure, business, government and ride sharing,” details the group.
Hertz also revealed preliminary fourth quarter revenues ranging from 2.1 to 2.2 billion dollars, against 2.2 billion consensus.
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