All articles tagged with #gasoline cars
Electric vehicles were popular over a century ago, especially in cities like New York, but they declined due to the rise of cheaper, more convenient gasoline-powered cars and oil industry influence; the article explores whether electric vehicles could make a comeback.
Hertz plans to sell about a third of its global electric vehicle (EV) fleet and use the proceeds to buy gasoline-powered cars due to higher expenses and lower demand for EVs. The company cites increased costs related to collision and damage, as well as eroding resale values for EVs, as reasons for the shift. This move is expected to improve Hertz's net income in 2024 and 2025. The impact on GM, from which Hertz had ordered 175,000 EVs, remains unclear.