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The car-rental firm said it's selling 20,000 EVs — about one-third of its electric fleet of Teslas, Volvos, Polestars, and more — partly due to repair and maintenance costs.
AdvertisementIt's also a warning about the cost of EV ownership to drivers thinking about switching from gas to electric.
Mitchell, which supplies data for insurance and repair companies, has found EVs — and particularly Teslas — are more expensive than gas-powered cars to repair.
Among all EVs, Tesla's Model 3 has the best resale value, falling by only 42.9% in five years.
Persons:
Hertz, —, Adam Jonas, Morgan Stanley, It's, Jonas, Mitchell, Kelley, Power, iSeeCars
Organizations:
EV, Service, Automotive, Energy Innovation, Insurance, quicken
Locations:
West Coast