Hertz's EV Misstep: Selling 20,000 Electric Vehicles for Gas Cars

Hertz is selling 20,000 of its EVs and replacing them with fossil fuel–powered vehicles after facing unexpected challenges with the rollout for ride-share drivers, particularly related to higher-than-expected repair costs for collision damage. The company's initial push into the EV market, primarily targeting Uber drivers, was met with lower maintenance costs but higher repair expenses, especially for Teslas. This move serves as a cautionary tale for businesses entering new markets and highlights the importance of thoroughly assessing and introducing new products to customers.