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Hertz’s 2024 EV Sell-Off: Could Former Rental Cars Be Bargains?

Hertz’s EV sell-off is complete, but its filings do not establish current bargains. Here’s what the fleet figures mean and what to check on any used EV.
Entry688 Date Time3 min MechanicCarCody Team
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Hertz’s large EV sell-off was a completed 2024–25 fleet move, not an ongoing announcement of cars available at discount prices. The company initially said it would sell about 20,000 U.S. electric vehicles; by February 2025, it reported its announced 30,000-vehicle reduction complete. Those figures describe different stages or scopes of Hertz’s reporting. Whether a former Hertz EV is a bargain today depends on the specific car and a current listing—neither price nor current inventory is established by the company filings.

What Hertz announced—and when the sales ended

On January 11, 2024, Hertz said it planned to sell approximately 20,000 electric vehicles from its U.S. fleet, describing that number as about one-third of its global EV fleet. Dispositions had begun in December 2023 and were expected to continue during 2024. Hertz also said vehicles held for sale could remain eligible for rental while the sales process was underway. Hertz’s January 2024 filing

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Hertz’s 2024 Form 10-K described disposal groups identified in December 2023 and an additional group identified in March 2024. It said the sales were substantially complete as of December 31, 2024. In February 2025, the company said its announced 30,000-vehicle reduction was complete. The initial 20,000 U.S.-vehicle announcement and later 30,000 completion figure refer to different reporting stages or scopes; they should not be read as conflicting counts of the same single group. Hertz’s 2024 Form 10-K Hertz’s February 2025 results release

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Why Hertz reduced its EV fleet

Hertz’s management attributed the decision to EV supply exceeding customer demand, elevated damage and collision costs, and declining residual values. These are the company’s stated reasons for changing its fleet strategy; they do not establish that every former rental EV is in poor condition or that EV repairs are universally expensive. Hertz’s 2024 Form 10-K

What the $223 million figure does—and doesn’t—mean

For the year ended December 31, 2024, Hertz reported $223 million in incremental net depreciation expense related to EV sales: $175 million in write-downs and $48 million in losses on vehicles sold. Those are Hertz accounting charges, not a total discount passed on to buyers, a per-car savings figure, or evidence that a specific listing is priced below market. Hertz’s 2024 Form 10-K

How to tell whether a former Hertz EV is a bargain

The filings establish that Hertz sells fleet vehicles through retail and other channels, but they do not identify live inventory, today’s asking prices, mileage, condition, or which individual cars belonged to the EV disposal groups. Hertz says its U.S. company-operated Hertz Car Sales locations sell vehicles from its rental fleet. It also describes dealer-direct wholesale, third-party direct sales, retail, and auction channels for vehicles not repurchased by manufacturers. These are sales routes, not confirmation that a particular advertised vehicle is an EV from the sell-off. Hertz’s 2024 Form 10-K

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Evaluate any candidate against comparable vehicles and the total cost of ownership, using vehicle-specific documentation rather than the seller’s former-fleet label alone.

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  • Total out-the-door price: Compare the full price, including taxes and fees, with similar model years and trims in the same market.
  • Vehicle history and use: Check the odometer, disclosed rental or commercial use, accident and title history, and maintenance records.
  • Battery and charging: Ask for available battery-health information and verify that the car charges correctly with compatible equipment.
  • Inspection and warranty: Arrange an independent inspection and confirm what factory or other warranty coverage remains and whether it applies to the specific car.
  • Local fit: Consider location, charging access, range needs, and current alternatives before treating a low sticker price as a saving.

Hertz’s fleet-level disclosures cannot answer these questions for an individual vehicle. A current listing and vehicle-specific inspection are necessary to assess an actual offer.

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EUHOMY 19QT 12 Volt Refrigerator, -4℉~68℉ Electric Cooler for Car
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Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.

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