After bad bet on electric vehicles, Hertz reportedly selling low-mileage 2023 Teslas for under $18K

Hertz announced in November it would offload 30,000 electric vehicles by the end of 2024, which may be resulting in bargain offers. 

With the vehicles rapidly depreciating and demand low, the rental company, Carscoops reports, offered to a renter a Tesla Model 3 for $17,913, according to a screenshot of the email the renter received from Hertz, which was shared on Reddit. 

While the information in the Reddit post can’t be verified, Carscoops reports that other Reddit users have shared screenshots of emails from Hertz offering low prices on vehicles. The Hertz car sales website also shows 2023 Tesla Model 3s with under 60,000 miles going for less than $24,000, which is close to Kelly’s Blue Book value. 

Hertz initiated a plan to transition a large chunk of its fleet to electric vehicles, but the vehicles turned out to be expensive to maintain, and they depreciated quickly. In March, Hertz CEO Stephen Sherr, who set the company on its EV course, stepped down. 

A Hertz spokesperson told Just the News that its car sales are part of a business strategy. The company rotates its rental fleet regularly, the spokesperson explained, and this ensures their rental cars are "fresh and modern" and align with customer preferences. 

"Our commitment to a modern, diverse fleet means we offer well-maintained vehicles nationwide at competitive prices, typically below Kelley Blue Book value. From luxury models and SUVs to sedans and EVs, we've got options at great prices. And if you're renting a vehicle that will soon join our sales inventory, we often let you know," the spokesperson said.

The spokesperson added that every car sold by Hertz undergoes a rigorous 115-point inspection and includes a 12-month/12,000-mile limited powertrain warranty.