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28 Sep, 2022

Hertz CEO: Tesla rental demand ‘very, very solid’

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CEO Stephen Scherr of Hertz, which ordered 100,000 Tesla vehicles in October 2021 , says demand for the vehicles is very strong. Hertz is looking to have 25% of its fleet be electric vehicles by the end of 2024, up from 5% today.

Demand has been very, very solid. And remember, we’re seeing demand not only among leisure travelers but also corporate travelers, where in fact, corporations want their employees in an electric vehicle to satisfy some of their carbon footprint objectives. And of course, we’ve been renting to Uber and Lyft as part of their ride-sharing network. Demand across all three has been very strong.

Scherr also said the vehicles are less costly to maintain:

I’d also point out from a financial point of view. For Hertz, the maintenance is appreciably lower on (the) electric vehicles. We’re seeing it 40-50% lower, just given the nature of the car itself.