The American vehicle rental company Hertz will sell around a third of its electric fleet worldwide to adjust its offering to less sustained demand than expected (AFP/Archives/SAUL LOEB)
The American vehicle rental company Hertz will sell around a third of its electric fleet worldwide to adjust its offer to less sustained demand than expected, but assures that it will not give up on its ambitions in the field.
The Estero group (Florida) explains, in a document filed with the American market regulatory authority (SEC), that the sale of these 20,000 vehicles aims to “enable a better balance between supply and demand forecasts. of electric models”.
The operation will also “eliminate a disproportionate amount of low-margin rentals and reduce maintenance costs associated with damage to electric vehicles,” Hertz said.
The sale of part of the electric fleet will cause a depreciation of $245 million, which will be included in the accounts for the fourth quarter of 2023.
Despite this sale, Hertz says it remains committed to “implementing its electric vehicle strategy”.
The rental company made a big splash in October 2021 by announcing an order for 100,000 Tesla brand cars, spread out until the end of 2022.
Nearly two and a half years after this communication, Hertz only has around 60,000 electric vehicles, a fleet which will therefore be reduced by a third.
In its 2022 annual report, published in February 2023, the group said it was aiming for a quarter of its vehicle fleet to be electric by the end of 2024.
At the end of 2022, Hertz had around 550,000 vehicles worldwide.
Noting that demand was not growing as quickly as expected, several American automakers have eased off on electric vehicles in recent months.
Although growing, the American market is penalized by the drop in gasoline prices, delays in the deployment of a sufficient network of charging stations and the still high purchasing cost of electric vehicles.
Around 8:20 p.m. GMT, the company’s shares fell 4.44% on Wall Street.
In the document released Thursday, Hertz said it forecast revenue of between $2.1 billion and $2.2 billion, a slightly more moderate range than the $2.19 billion expected by analysts, according to an established consensus. by FactSet.
© 2024 AFP
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