The MSRP declines in EVs over the course of 2023, driven primarily by Tesla, have driven the fair market value of our EVs lower as compared to last year, such that a salvage creates a larger loss and, therefore, greater burden...
Hertz expects to take a loss of about $245 million due to depreciation on the EVs, an average of about $12,250, per vehicle the company said in an SEC filing.