Fleets don't go to jiffy lube, when a car isn't being rented (e.g. at the shop) it is costing the company money, and Tesla's price drops cause issues, as covere

Fleets don't go to jiffy lube, when a car isn't being rented (e.g. at the shop) it is costing the company money, and Tesla's price drops cause issues, as covered in Hertz's earnings call. https://ir.hertz.com/static-files/75a583c0-90e0-496a-8b45-9f9d9389a93a https://ir.hertz.com/static-files/75a583c0-90e0-496a-8b45-9f... > For context, collision and damage repairs on an EV can often run about twice that associated with a comparable combustion engine vehicle. > Second, where a car is salvaged, we must crystallize at once any difference between our carrying value and the market value of that car. The MSRP declines in EVs over the course of 2023, driven primarily by Tesla have driven the fair market value of our EVs lower as compared to last year, such that a salvage creates a larger loss and, therefore, greater burden. > Taking account of the impact on depreciation, collision and damage and RPU relating to our EV fleet, we estimate that had our fleet in Q3 been similarly sized but comprised solely of ICE vehicles our EBITDA margin would have been several margin points higher.