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Hertz Tosses CEO over his EV Push

By Paddy Deighan MBA JD PhD

Real Estate Technology with http://www.medicalandspaconsulting.com

March 26, 2024 09:10 PM

I read on Zero Hedge that Hertz terminated its CEO as a result of his decision to dramatically shift the car rental emphasis over to EVs. Consumer demand did not warrant the investment in 100,000 Tesla EVs to the Hertz flee in 2022. He then ordered 65,000 Polestar EVs (Sweden) last year.

This is an example of corporate America putting its goals ahead of consumer demand. The CEO, Stephen Scherr performed no market testing and he did not listen to the desires (or lack thereof) of his customers. He was a longtime Goldman Sachs executive and he should have known better.

I rented a Tesla from Hertz in July of 2022 to drive to California from Las Vegas. The 500 mile roundtrip required 4 charges and a near calamity of almost not reaching a charging station in the California desert. The car was not fully charged when I rented it and of course you have to return them filly charged. When I asked another Tesla owner about the recharging frequency, he quipped, "well, it's July in the desert and you have the air on and its hot out and the road is hilly"

I relied, 'thank God I didn't have the radio on".

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Kat Palmiotti

eXp Commercial, Referral Divison - Kalispell, MT

Helping your Montana dreams take root

I know there are people who love their EVs, but on the few occasions lately where I needed a rental car I specifically chose a non-EV. Where I live, EVs do not make sense since getting anywhere is usually a relatively long ride and in the winter when it's cold, cars run out of juice faster. I read about someone who had a full charge which should have been enough to get over the mountain range. It wasn't. I'm not a fan.

Mar 27, 2024 04:55 AM

Paddy Deighan MBA JD PhD

Kat, there are many complaints of renters receiving EVs when they specifically requested non EV options...where is the consumer choice being paramount. I never wish anyone bad will but I am happy this idiot CEO got canned

Mar 28, 2024 11:08 PM

GilbertRealtor BillSalvatore

Arizona Elite Properties - Chandler, AZ

Realtor - 602-999-0952 / em: golfArizona@cox.net

We have a lot of bugs t work out with EV's still, great information. Thanks for sharing it.

Have a super fantastic week! Bill Salvatore with AEP

Mar 27, 2024 05:22 AM

Wayne Martin

Wayne M Martin - Oswego, IL

Real Estate Broker - Retired

Good morning Paddy. I am an old fashioned guy who likes his gas powered vehicle. For someone who never goes out of town and has a charging station at their home, I guess they are fine. That said renting an EV for a long road trip, not so much. Enjoy your day.

Mar 27, 2024 06:04 AM

Wayne...I am with you 100%...EVs give me a headache and EV drivers give me an even bigger headache!!!!!!!!!!!!

Mar 28, 2024 11:06 PM

Kathy Streib

Cypress, TX

Retired Home Stager/Redesign

Paddy- I prefer the option we drive...a Prius. I know I've mention ed this but a relative missed a family gathering because traffic caused a delay, which necessitated his having to search for a charging station (in the country) After he found one, he had to "get inb line" and after that it was hours to charge. Thanks but no thanks.

Mar 27, 2024 06:17 PM

Kathy...I cannot explain why hybrids are not more popular....they are a much better option than an EV!!!!!!!!!!!!!!!!!!!!

Mar 28, 2024 11:05 PM

Laura Cerrano

Feng Shui Manhattan Long Island - Locust Valley, NY

Certified Feng Shui Expert, Speaker & Researcher

He can always go elsewhere and then do what he needs to do as far as EV‘s.

May 23, 2024 10:59 PM

Hertz Tosses CEO over his EV Push

I read on Zero Hedge that Hertz terminated its CEO as a result of his decision to dramatically shift the car rental emphasis over to EVs. Consumer demand did not warrant the investment in 100,000 Tesla EVs to the Hertz flee in 2022. He then ordered 65,000 Polestar EVs (Sweden) last year.

This is an example of corporate America putting its goals ahead of consumer demand. The CEO, Stephen Scherr performed no market testing and he did not listen to the desires (or lack thereof) of his customers. He was a longtime Goldman Sachs executive and he should have known better.

I relied, 'thank God I didn't have the radio on".

Comments(5)

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