Why is EV failing?
Hertz’s venture into renting EVs proved an economic debacle of mismanagement. Recent claims that the electric vehicle market is collapsing without government mandates fundamentally misread the data and confuse corporate strategy adjustments with market failure. Why Is Leasing an EV a No-Brainer? Leasing an EV offers lower upfront costs, affordable monthly payments, and flexibility to upgrade to newer models as technology advances.Lower retail demand They bring lower rates of tax, and many businesses are incentivized to get their employees behind the wheel of an electric vehicle. As a result, fleet demand for EVs has skyrocketed—but retail has been left falling, which directly impacts electric vehicle depreciation.A recent AAA survey revealed that the top motivators against buying EVs included high purchase prices, range anxiety, and a lack of public charging stations—among others. Many automakers, including Toyota, see plug-in hybrid-electric vehicles as the best interim solution.Electric cars are still a bit more expensive to buy than an internal combustion engine vehicle, but overall they require much less maintenance and cost less to service and maintain as a result.