hertz
In 2021, after a pandemic wrecked its business and forced it into bankruptcy, Hertz announced a bold new plan to add hundreds of thousands of new electric vehicles to its fleet. In October 2021, the car rental company announced that he would add 100,000 Tesla Model 3 and Model Y to its fleet by the end of 2022. This is the first of several EV purchase announcements.
However, according to the company’s recently filed annual financial report, it falls well short of its goal of making 20% of its rental fleet Tesla vehicles by the end of 2022. By the end of the year, Tesla will have 9% of its total fleet. and only 11% of the North American fleet, suggesting less than half of the 100,000 Model 3s delivered.
That said, a quick look at Hertz’s booking site reveals plenty of Teslas available for rent here in Washington, DC, and Hertz says EVs can be rented at 500 locations in 38 states.
-
Hertz may have less than half its Tesla fleet, but there are still plenty available for rent here in Washington, DC.
hertz
-
DC didn’t have a Polestar 2 for rental, but you can reserve one from Los Angeles International Airport.
hertz
Hertz doesn’t explicitly explain Tesla’s underdelivery in 10-K, but hints at possible reasons when discussing risk factors to the business. These include “the inability to ensure adequate vehicle supply within the timeframes expected by us and our customers”, although inadequate charging infrastructure may also play a role. Some have speculated that Tesla’s price hike for 2022 may have influenced the plans.
That said, rental companies have not given up on their electrification efforts. Hertz now has a goal of making 25% of his rental fleet battery EVs by 2024. In addition to Tesla, Hertz plans to buy 65,000 Polestars. Most of them are Polestar 2 Fastbacks, which are already available for rent in some locations such as Los Angeles.
And in September 2022, Hertz agreed to buy up to 175,000 EVs from General Motors over the next five years, starting with the Chevrolet Volt and Volt EUV.
