Hertz says it lost another $195M from EV bet
HTZHertz(HTZ) Fox Business·2024-04-27 00:41

Hertz said Thursday that the rental car giant's failed investment in an electric vehicle fleet continues to be an expensive mistake, reporting it lost another 195millionlastquarterindepreciationvaluefromwritingofftheremainingEVsthecompanyhasheldforsale.Thecompanystotallosseswere195 million last quarter in depreciation value from writing off the remaining EVs the company has held for sale. The company's total losses were 588 million, greater than Wall Street expectations. The news sent shares down more than 24% on Thursday. The stock pared some losses on Friday. Ticker Security LastChangeChange % HTZ HERTZ GLOBAL4.50 -0.18 ...