Flooded EV Market: Hertz Dumps Teslas

By Douglas McIntyre  •  December 25, 2024

Douglas McIntyre, Editor-in-Chief of Climate Crisis, reports on Hertz’s decision to offload 20,000 used Teslas at prices under $20,000—half their original cost. This stems from Hertz’s 2021 purchase of 100,000 Teslas, a move intended to make EVs 20% of their fleet. However, low rental demand, driven by user confusion and charging challenges, coupled with Hertz’s financial struggles, led to the sell-off. The influx of these Teslas into the market is expected to affect EV inventory and prices significantly in the coming months.

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