In an interview on CNBC’s Mad Money, Stephen Scherr said the Hertz (HTZ) brand is commanding of attractive pricing. Depreciation on EVs was higher because Tesla (TSLA) took prices down, he noted.” Depreciation is not something we can control,” he added. The cost to repair EVs is higher than ICE cars. He expects to have about 10,000 GM (GM) EVs by the end of year and sees that number growing. Scherr views the current stock price as “quite attractive.”
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Read More on HTZ:
- HERTZ REPORTS THIRD QUARTER 2023 RESULTS: REVENUE OF $2.7 BILLION, NET INCOME OF $629 MILLION AND ADJUSTED CORPORATE EBITDA OF $359 MILLION
- Hertz reports Q3 adjusted EPS 70c, consensus 76c
- Hertz Global Holdings put volume heavy and directionally bearish
- Hertz names Justin Keppy as COO, effective November 15
- Hertz price target lowered to $20 from $26 at Deutsche Bank