Is Hertz's Decision To Abandon the EV Market Bad for the Industry?

It's been the top headlines in news this week: Hertz has decided to offload a majority of the electric vehicle offers, reporting that the choice was made a result of high repair costs relating to damage and collision after originally stating that they were expecting a fleet of 25% electric vehicles. Not only has this news been the hot gossip of the town, it is also a major statement in the automotive market that will not go without repercussions.

Electric Vehicle Depreciation

The biggest factors in the Hertz decision to sell off a reported 20,000 electric vehicles, all to be replaced with traditional gas powered vehicles, will hit the EV market hard. This influx in vehicles back into the market will cause an oversaturation that will become a typical sellers worst nightmare with rapid depreciation.

In a market where consumer's perspective on electric vehicles is already so volatile, this decision will not be easily overlooked by buyers. In fact, it does a lot to show the unease in the market surrounding EVs with a high potential to collapse the already fragile bridge between standard ICE-vehicle consumers and electric vehicles.

I Hate for this to Sound like a Sales Pitch But…

I hate for this to sound likes a sales pitch, but it more or less is. Hear me out though, because I genuinely believe what I am writing to be true: most people should not OWN an electric vehicle. Not yet, anyways.

The commitment of ownership itself means a long-term investment, not just financially but also for your daily lifestyle. Consumers are facing genuine fears when it comes to the decision to purchase an EV, and with very few buyers having an real-life experience behind the wheel daily it is hard for them to lean on anything other than the overwhelming negative press that has been flooding the papers, online publications, and every corner of social media.

Here's where we come in. MotorEnvy. Hi. We are a flexible-term, or short term luxury car leasing company, and we are trying to help bridge this gap for consumers in a way that no other company is. By offering the option to genuinely test out a vehicle like a Tesla Model 3 for a time that is long enough to get experience and develop your own opinions on a day-to-day, but without the year long commitment and high financial risk of ownership or traditional leasing.

Why should you listen to me? Because I've been there. As a traditional gasoline-powered car owner I'm not without my skepticism of electric vehicles. Is this a fad? Is it sustainable? Are they as problematic and dangerous as click-bait articles make them out to be? Following along for my series as I put myself behind the wheel of a Tesla Model 3 for my first time experiencing an EV as a truly skeptical car enthusiast to see what our special Tesla Model 3 promo is really all about.