Rental firm Hertz Global Holdings said on Thursday it would sell about 20,000 electric vehicles, including Teslas, from its U.S. fleet due to higher expenses related to collision and damage, and will opt for gas-powered vehicles.
Shares of the rental company, which also operates vehicles from Swedish EV maker Polestar among others, fell about four per cent. Tesla’s stock was down about three per cent.
Hertz also expects to record about $245 million US in costs related to depreciation expenses from the proposed sale of the electric vehicles in the fourth quarter of 2023.
CBC News has reached out to Hertz for clarification on whether Canadian vehicle fleets will be affected or included in
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