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How Hertz Priced the EV Bet Then Reversed It
In early 2024, Hertz announced it was selling off roughly 20,000 electric vehicles from its rental fleet — about a third of its EV holdings — and reinvesting the proceeds into gasoline cars. The decision was a stunning reversal for a company that had, in 2021, placed one of the largest EV orders in history: 100,000 Teslas by the end of 2022, plus a deal with Polestar for another 65,000 vehicles. What went wrong? This episode of Pricing Power drills into the specific pricing miscalculations that undid Hertz's EV strategy. We look at the collision of three forces: the rapid depreciation of…
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