Hertz Stock Plunges 19% as It Continues to Lose Money on Ill-Fated Tesla EV Plan
HTZHertz(HTZ) Investopedia·2024-04-26 06:25

Key Takeaways Hertz Global Holdings announced it was cutting its EV fleet by another 10,000 and took a 195millionchargeinthefirstquarter.Thatchargewaspartofa195 million charge in the first quarter. That charge was part of a 588 million increase in vehicle depreciation, leading to a per-share loss that was more than double estimates. In January, the company took a 245millionchargeasitmovedtoshed20,000EVs.Hertzsharesfell19245 million charge as it moved to shed 20,000 EVs. Hertz shares fell 19% on Thursday. Hertz Global Holdings (HTZ) shares cratered after the rental car giant said it will incur an additional 195 mi ...