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EVs Are Cheaper Than Ever. That's Bad For EV Owners

16 Jan 2024 | Abstracted from GMToday

"Hertz had sold about a third of its fleet to pay its creditors, but then had to bulk back up....Hertz's decision to buy 100,000 Model 3s in October 2021 - its first major policy since exiting bankruptcy earlier that year - look inexplicably foolhardy in retrospect..Depreciation is a key risk for rental companies, which can see a huge slice of their asset base wiped out at the at the stroke of an accountant's pen .

"Price parity now appears to be arriving. That's great news for the electric car industry, and for drivers who've not been able to afford a battery vehicle - but it offers a silver lining for the beleaguered rental companies..."

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