Hertz has begun contacting electric vehicle (EV) renters with offers to purchase their rental cars at prices reflecting its used car sales program. Renters of vehicles such as the Tesla Model 3, Chevrolet Bolt, and Polestar 2 have reported receiving offers that mirror listings on the Hertz Car Sales site, with some deals appearing particularly competitive.
A renter of a 2023 Tesla Model 3 shared on Reddit that they were offered the car for $17,913. The vehicle had about 30,000 miles on it, which is fewer than other similar listings currently available. Another renter reported being offered a 2023 Chevy Bolt for $18,442, while a Polestar 2 was priced at $28,500. These offers come with a limited 12-month, 12,000-mile powertrain warranty and a seven-day buy-back guarantee.
Hertz’s communications director, Jamie Line, explained the initiative to The Verge, saying the company regularly connects rental customers to its sales channels, particularly those who have opted into email communications. “We’re not only building awareness of the fact that we sell cars but also offering a unique opportunity to someone who may be in the market for the same car they have on rent,” Line noted.
This approach, while not new, aligns with Hertz’s efforts to monetize its fleet while addressing shifts in customer demand. The company scaled back its EV expansion plans last year, citing low rental interest and repair challenges with certain models, including the Tesla Model 3. Earlier this year, Hertz decided to discontinue purchases of Polestar 2 vehicles and announced plans to sell off 30,000 Teslas from its rental fleet.
The initiative reflects Hertz’s strategy to connect its rental business with its used car sales operations, providing renters with a straightforward path to ownership while optimizing the lifecycle of its EV inventory.
Featured Image courtesy of Matthew Staver/Bloomberg via Getty Images
Follow us for more tech news updates.
Source: https://digitalmarketreports.com/news/31698/hertz-offers-renters-a-chance-to-buy-their-evs/