Rental car giant Hertz is significantly ramping up its program to sell off electric vehicles, with used Tesla Model 3s’s now priced below $20,000. This move comes as the company faces escalating depreciation costs on its EV fleet. Hertz’s large investment in Tesla electric vehicles has turned into a costly setback, resulting in substantial financial losses and the departure of its CEO.

According to Inside EVs, Hertz’s ambitious electric vehicle initiative has encountered a major setback, with the company revealing an 89% surge in EV depreciation costs, now averaging $537 per vehicle per month. In response, the rental car giant has pledged to sell off 30,000 electric vehicles from its fleet by the end of 2024, a significant shift from its previous strategy of expanding its EV inventory.

General Motors (GM), on the other hand, announced on Friday that it will be laying off approximately 1,000 employees globally as part of a cost-cutting effort to remain competitive in the crowded global automotive market. The Associated Press says the affected workers, primarily in white-collar positions, were notified early in the morning ahead of the weekend. While GM confirmed the layoffs in a statement, the company provided few additional details.

Biden and his environmentalist allies used strict emissions standards as a cover for their real agenda: to undermine the auto industry. This, in turn, limits access to affordable transportation, leaving only the elite able to own cars. Meanwhile, the administration promotes alternatives like buses and trolleys to give the illusion of offering a solution.

In reality, this is part of a broader effort to treat ordinary people as mere pawns while the elite maintain control. By imposing high taxes and harsh regulations on car ownership, the administration essentially strips people of their ability to provide their own transportation, then offers subsidized public transit as though it were a generous solution. It’s like a con artist who breaks your leg and later gives you crutches, claiming you’d never be able to walk without their help.

Thankfully, the American people rejected the Biden White House and environmentalists agenda. Hopefully, President Trump can soon revive the automobile market so automobile workers can work again and consumers can buy affordable cars for their transportation.

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