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They Can't even RENT these POS. NO ONE wants one!!
They Can't even RENT these POS. NO ONE wants one!!
By Beekeeper
15 Jan 2024 8:10 am in No Holds Barred Political Forum
15 Jan 2024 8:10 am
Hertz is selling off it's MASSIVE "EV FLEET" that no one wants to rent or OWN!!
Hertz official SEC statement;
Hertz official SEC statement;
Item 2.02 Results of Operations and Financial ConditionHertz Global Holdings, Inc. (the “Company” or “Hertz”) has made the strategic decision to sell approximately 20,000 electric vehicles (“EVs”) from its U.S. fleet, or about one-third of the global EV fleet. These vehicle dispositions, which were initiated in December 2023 and are expected to take place in an orderly fashion over the course of 2024, will cover multiple makes and models. EVs held for sale will remain eligible for rental within the Company’s fleet during the sales process. The Company expects to reinvest a portion of the proceeds from the sale of EVs into the purchase of internal combustion engine (“ICE”) vehicles to meet customer demand.
The Company’s decision to reduce its EV fleet will result in the recognition, during the fourth quarter of 2023, of approximately $245 million of incremental net depreciation expense related to the sale. This non-cash charge represents the write down of the EVs’ carrying values as of December 31, 2023 to their fair values, less related expenses associated with the disposition of the vehicles. This charge is in addition to the depreciation expense that the Company will report for the fourth quarter in the ordinary course with respect to the remainder of its fleet. Future depreciation expense on the specific vehicles held for sale is expected to be limited to impacts from changes in the vehicles’ condition and general market factors. Any gain or loss associated with the ultimate disposition of any specific EV will be recognized in the period of sale. The Company does not expect this EV fleet reduction and the corresponding addition of ICE vehicles to have a material impact on its asset-backed securitization facilities, nor does it anticipate the need to make additional cash contributions to such facilities as a result of this strategic action.
The Company expects this action to better balance supply against expected demand of EVs. This will position the Company to eliminate a disproportionate number of lower margin rentals and reduce damage expense associated with EVs. The Company will continue to execute its strategy around EV mobility and offer customers a wide selection of vehicles. The Company continues to implement a series of initiatives that it anticipates will continue to improve the profitability of the remaining EV fleet. These initiatives include the expansion of EV charging infrastructure, growing relationships with EV manufacturers, particularly related to more affordable access to parts and labor, and continued implementation of policies and educational tools to help enhance the EV experience for customers. Going forward, the Company will continue to actively manage the total size of its EV fleet, as well as the allocation of EVs among customer segments, including leisure, corporate, government and rideshare.
It is expected that the planned reduction in the EV fleet and reinvestment in additional ICE vehicles will improve Adjusted Corporate EBITDA across 2024, as vehicles are rotated, and in 2025, by which time all of the vehicles included in this plan are expected to be sold. By year end 2025, it is expected that the aggregate two-year benefit to Adjusted Corporate EBITDA related to the sale will approximate the incremental net depreciation expense to be recognized in the fourth quarter of 2023. It is expected that this benefit to the Company’s financial results will be derived from higher revenue per day and lower depreciation and operating expenses related to its remaining fleet. The Company further anticipates that incremental free cash flow generation related to this action will approximate $250 million to $300 million in the aggregate over 2024 and 2025.
Liberals are spoiled children, miserable, unsatisfied, demanding, ill-disciplined, despotic & useless. Liberalism is a philosophy of sniveling brats ~O'Rourke
The Democratic Party seems intransigent on their position of keeping the party ‘woke,’ detached, exclusionary, and totally insane.
The Democratic Party seems intransigent on their position of keeping the party ‘woke,’ detached, exclusionary, and totally insane.
15 Jan 2024 8:11 am
They would rather LOSE $245 MILLION than have to carry these BOAT ANCHORS in their rental inventory that NO ONE WANTS!!
!!
!!
Liberals are spoiled children, miserable, unsatisfied, demanding, ill-disciplined, despotic & useless. Liberalism is a philosophy of sniveling brats ~O'Rourke
The Democratic Party seems intransigent on their position of keeping the party ‘woke,’ detached, exclusionary, and totally insane.
The Democratic Party seems intransigent on their position of keeping the party ‘woke,’ detached, exclusionary, and totally insane.
15 Jan 2024 10:28 am
Beekeeper » 15 Jan 2024, 9:11 am » wrote: ↑ They would rather LOSE $245 MILLION than have to carry these BOAT ANCHORS in their rental inventory that NO ONE WANTS!!
The same **** must be running that company as InBev Budweiser division.
The world is **** up. Makes population control seem more and more like a good solution.
Please seat yourself.
I like the very things you hate.
I like the very things you hate.
15 Jan 2024 10:35 am
Most don't want to rent them, the maintenance cost is high, as is collision repairs and such. Going back to the tried and true internal combustion engine.
BV is in question time out indefinitely, until he takes the pledge to answer questions one for one.
The Pledge viewtopic.php?f=3&t=100927
Popular Vote Totals 2024 viewtopic.php?p=2685476#p2685476
BV's Sporter Losshttps: viewtopic.php?p=2610828#p2610828
BV 33 miles: viewtopic.php?p=2747521#p2747521
Sources viewtopic.php?p=2589152#p2589152
The Pledge viewtopic.php?f=3&t=100927
Popular Vote Totals 2024 viewtopic.php?p=2685476#p2685476
BV's Sporter Losshttps: viewtopic.php?p=2610828#p2610828
BV 33 miles: viewtopic.php?p=2747521#p2747521
Sources viewtopic.php?p=2589152#p2589152
15 Jan 2024 11:54 am
DeezerShoove » 15 Jan 2024, 11:28 am » wrote: ↑ The same **** must be running that company as InBev Budweiser division.
The world is **** up. Makes population control seem more and more like a good solution.
Why would ANY company take a risk on totally PROVEN to be failures? Even with President Doofus telling them how great they are, they are STILL a **** up POS. People aren't going to rent a car only to discover that they need to sit for 3 hours to get back to their hotel after a day long trip. AND that the price to charge is IN ADDITION to their rental car costs and they have saved NOTHING in gas prices either.
The bottom line- people WORLDWIDE are totally rejecting these PIECE OF **** in mass.
Liberals are spoiled children, miserable, unsatisfied, demanding, ill-disciplined, despotic & useless. Liberalism is a philosophy of sniveling brats ~O'Rourke
The Democratic Party seems intransigent on their position of keeping the party ‘woke,’ detached, exclusionary, and totally insane.
The Democratic Party seems intransigent on their position of keeping the party ‘woke,’ detached, exclusionary, and totally insane.
15 Jan 2024 3:09 pm
15 Jan 2024 3:17 pm
Liberals are spoiled children, miserable, unsatisfied, demanding, ill-disciplined, despotic & useless. Liberalism is a philosophy of sniveling brats ~O'Rourke
The Democratic Party seems intransigent on their position of keeping the party ‘woke,’ detached, exclusionary, and totally insane.
The Democratic Party seems intransigent on their position of keeping the party ‘woke,’ detached, exclusionary, and totally insane.
15 Jan 2024 3:33 pm
The only time it makes sense for someone to rent an EV is if they aren't planning on driving it any farther than the initial charge and/or are positive they have a way to recharge the battery wherever they are staying or going.Beekeeper » 15 Jan 2024, 9:10 am » wrote: ↑ Hertz is selling off it's MASSIVE "EV FLEET" that no one wants to rent or OWN!!
Hertz official SEC statement;
If I were only in town for the day and had to drive myself to a couple of meetings and then back to the airport after for the flight home, it would make sense to use an EV... so long as they didn't charge me an arm and a leg to charge it back up after I dropped it off... which they probably would.
Lack of reliable infrastructure is the EV market's biggest hurdle.
Of course the idiots pushing this **** put the cart before the horse, like they typically do.
The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people
15 Jan 2024 3:34 pm
^^IGNORANT SON OF A BITCH NEVER HEARD OF A TESLA SUPERCHARGERBeekeeper » 15 Jan 2024, 12:54 pm » wrote: ↑ Why would ANY company take a risk on totally PROVEN to be failures? Even with President Doofus telling them how great they are, they are STILL a **** up POS. People aren't going to rent a car only to discover that they need to sit for 3 hours to get back to their hotel after a day long trip. AND that the price to charge is IN ADDITION to their rental car costs and they have saved NOTHING in gas prices either.
The bottom line- people WORLDWIDE are totally rejecting these PIECE OF **** in mass.
15 MNUTES. BAM! 200 MILE CHARGE READY TO GO
15 Jan 2024 5:17 pm
Subsidies.Beekeeper » 15 Jan 2024, 12:54 pm » wrote: ↑ Why would ANY company take a risk on totally PROVEN to be failures? Even with President Doofus telling them how great they are, they are STILL a **** up POS. People aren't going to rent a car only to discover that they need to sit for 3 hours to get back to their hotel after a day long trip. AND that the price to charge is IN ADDITION to their rental car costs and they have saved NOTHING in gas prices either.
The bottom line- people WORLDWIDE are totally rejecting these PIECE OF **** in mass.
16 Jan 2024 5:37 am
TYPICAL LWNJ response thinking that GOVERNMENT is supposed to pay for peoples STUPID ****!!
"Subsidies" don't pay the bills, renting cars does, *******!! Of which your answer only PROVES how much of a scum sucking PIECE OF **** YOU ARE!!
Liberals are spoiled children, miserable, unsatisfied, demanding, ill-disciplined, despotic & useless. Liberalism is a philosophy of sniveling brats ~O'Rourke
The Democratic Party seems intransigent on their position of keeping the party ‘woke,’ detached, exclusionary, and totally insane.
The Democratic Party seems intransigent on their position of keeping the party ‘woke,’ detached, exclusionary, and totally insane.
16 Jan 2024 5:51 am
KILL YOURSELFBeekeeper » 16 Jan 2024, 6:37 am » wrote: ↑ TYPICAL LWNJ response thinking that GOVERNMENT is supposed to pay for peoples STUPID ****!!
"Subsidies" don't pay the bills, renting cars does, *******!! Of which your answer only PROVES how much of a scum sucking PIECE OF **** YOU ARE!!
16 Jan 2024 5:52 am
16 Jan 2024 5:53 am
He's too stupid to figure that one out. Your best bet.....
POM, who is currently on your ignore list, made this post.
Display this post.
Liberals are spoiled children, miserable, unsatisfied, demanding, ill-disciplined, despotic & useless. Liberalism is a philosophy of sniveling brats ~O'Rourke
The Democratic Party seems intransigent on their position of keeping the party ‘woke,’ detached, exclusionary, and totally insane.
The Democratic Party seems intransigent on their position of keeping the party ‘woke,’ detached, exclusionary, and totally insane.
16 Jan 2024 5:54 am
My ignore list? When did I create that?Beekeeper » 16 Jan 2024, 6:53 am » wrote: ↑ He's too stupid to figure that one out. Your best bet.....
POM, who is currently on your ignore list, made this post.
Display this post.
16 Jan 2024 5:55 am
16 Jan 2024 5:56 am
^^DUMB **** READS MY POSTS AND I AM ON HIS IGNORE LISTBeekeeper » 16 Jan 2024, 6:53 am » wrote: ↑ He's too stupid to figure that one out. Your best bet.....
POM, who is currently on your ignore list, made this post.
Display this post.
END YOUR MISERY TODAY!
16 Jan 2024 5:57 am
No, that's what I do with complete and total MORONS!!
She's even resorted to sending me PM's with threats!!
Liberals are spoiled children, miserable, unsatisfied, demanding, ill-disciplined, despotic & useless. Liberalism is a philosophy of sniveling brats ~O'Rourke
The Democratic Party seems intransigent on their position of keeping the party ‘woke,’ detached, exclusionary, and totally insane.
The Democratic Party seems intransigent on their position of keeping the party ‘woke,’ detached, exclusionary, and totally insane.
16 Jan 2024 5:59 am
You just can't get past the IMBECILE FILTER!!!
POM, who is currently on your ignore list, made this post.
Display this post.
POM, who is currently on your ignore list, made this post.
Display this post.
Liberals are spoiled children, miserable, unsatisfied, demanding, ill-disciplined, despotic & useless. Liberalism is a philosophy of sniveling brats ~O'Rourke
The Democratic Party seems intransigent on their position of keeping the party ‘woke,’ detached, exclusionary, and totally insane.
The Democratic Party seems intransigent on their position of keeping the party ‘woke,’ detached, exclusionary, and totally insane.
16 Jan 2024 6:01 am
KILL YOURSELFBeekeeper » 16 Jan 2024, 6:57 am » wrote: ↑ No, that's what I do with complete and total MORONS!!
She's even resorted to sending me PM's with threats!!
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