So much for Biden’s transition to so-called clean energy.
Rental firm Hertz Global Holdings (HTZ.O) is selling about 20,000 electric vehicles, including Teslas, from its U.S. fleet about two years after a deal with the automaker to offer its vehicles for rent, in another sign that EV demand has cooled.
Hertz will instead opt for gas-powered vehicles, it said on Thursday, citing higher expenses related to collision and damage for EVs even though it had aimed to convert 25% of its fleet to electric by 2024 end.
CEO Stephen Scherr had last year at the JPMorgan Auto Conference flagged headwinds from higher expenses for its EVs, particularly Teslas.
Consumers have multiple concerns about electric vehicles, such as cost, a lack of charging stations and the lack of driving range which can be shortened during periods of high heat or extreme cold. Hertz’s announcement comes after the company announced during 2021 that they would purchase 100,000 electric vehicles. Now, according to Reuters, the company will have to sell at least 20,000 vehicles (including Teslas) while Hertz goes back to gas-powered cars and trucks.
The news also comes after almost 4,000 auto dealers across the country told Joe Biden late last year that his campaign to make two out of every three new cars sold by 2032 electric was highly unrealistic. According to Axios, car dealerships are not selling enough electric vehicles and the supply outweighs demand. Washington is spending billions of dollars to encourage electric vehicle production and sales, but consumer are not buying them.
The electric vehicle scheme is nothing more than an unrealistic money laundering racket geared to help the left feel good that they could somehow change consumer behaviors by holding out carrots for people. Like they old saying goes: You can lead a horse to water, but you can’t make them drink. The left got a hard lesson that people aren’t as simple as they think people are and, unfortunately, a lot of wealth stolen from Americans to bankroll Biden’s green fantasy went up in flames.