Hertz’s decision to sell off 30% of its recently acquired EV rental fleet shows that it is hard work renting out an EV. Early buyers of Teslas to electrify their offering they will now pause their buying and help push second hand EV prices down. More owners of EV s will lose more money on their purchase.
Many renters worry about range. EV owners are finding repair and insurance costs are high, whilst losses on resale are big. Car manufacturers are throttling back output and wanting more subsidy to go into the battery business.
The UK government should pause its EV subsidies and let the market sort out an EV enough people want to buy or rent.
Follow this news feed: John Redwood MP