Hertz (HTZ) EV fleet reaches 50,000 in Q1, 10% of its overall vehicles
Car rental giant Hertz (HTZ) ended the first quarter with 50,000 EVs in its fleet, accounting for 10% of its total vehicles. In Q1, Hertz credited its electrification strategy for the company’s growth and positive outlook for the remainder of the year.
In the first three months of 2023, Hertz generated $2 billion in revenue, up 13% year-over-year (YOY) on higher leisure and corporate demand.
Hertz CEO Stephen Scherr said the company is seeing continued growth across all customer segments alongside sustained pricing. He explained:
Our continued investments in the business, particularly in the areas of technology and electrification, are improving our operational cadence, extending our reach in rideshare, and enabling the revitalization of our value brands.
Hertz has been at the forefront of the electric vehicle transition in the rental industry. The company first announced a massive 100,000 Tesla Model 3 order last year while, more recently, adding Model Y options.
Shortly after adding Tesla models to its fleet, Hertz formed a new partnership with Uber to allow its drivers access to electric vehicles.
Hertz has since added several new EVs to its fleet from different OEMs, including an order for 65,000 Polestar models and, more recently, another considerable order for 175,000 GM electric cars.
Hertz expands its EV fleet in Q1 2023
On the company’s Q1 earnings call, Scherr said Hertz had about 50,000 EVs in its fleet at the end of the quarter.
Scherr says electric cars represent roughly 10% of its total car fleet right now as it continues to expand its zero-emission offerings. He says Hertz has begun taking deliveries of GM EVs and other OEM electric cars in the first quarter, giving customers more options to experience sustainable driving at various price points.
Since its fleet acquisition costs are typically aligned with vehicle delivery timing, Hertz says it has benefitted from the recent EV price declines sparked by Tesla’s price cuts.
Hertz predicts two million EV rentals in 2023, approximately five times the number of trips this past year. The EV rental company also continues expanding its EV charging network buildout through its partnership with BP Pulse at Hertz locations in major cities.
Through Hertz Electrifies, the company aims to increase EV utilization and access to charging with Houston, Denver, and Atlanta already signed up.
As for its rideshare business, Hertz says demand continues growing for electric options. According to Hertz, drivers renting an EV can increase their payout by 10% to 15% compared to an ICE model.
Electrek’s Take
Although 50,000 may seem like alot, it’s not much more than the 48,344 disclosed in its annual filing at the end of the year.
More importantly, Hertz revealed it took delivery of half its 100,000 Tesla order in February, so the numbers are not exactly adding up. It wouldn’t make sense for Hertz to have only 50,000 EVs in its fleet at the end of Q1 after confirming it had nearly 50,000 uber drivers renting a Tesla through its program in January.
Either way, Hertz says it remains focused on increasing EV penetration in the rental business with “considerable growth from here” according to Scherr.
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With new models rolling out from General Motors, Porsche, Honda, and several others, US EV sales increased by over 10% in the first three months of 2025. Nearly 300,000 EVs were sold in the first quarter of 2025. These were the top-selling models.
New EVs drive US sales growth in Q1 2025
Electric vehicle sales showed mixed results in the first quarter. Although Tesla is the center of attention as it continues to lose market share, several new EV models made an impressive debut.
With over 30,000 EVs sold in the first quarter, more than double the number sold last year, GM surpassed Ford and Hyundai Motor, placing second behind Tesla. GM’s Chevy is now the fastest-growing EV brand in the US, with the new electric Equinox, Blazer, and Silverado arriving.
GM sold 10,329 Chevy Equinox, 6,187 Blazer, and another 2,383 Silverado EVs in Q1. Thanks to its partnership with GM, Honda had an impressive sales quarter, selling over 14,000 EVs, including its luxury Acura brand.
The Prologue SUV remained one of the top-sellers with 9,561 units sold in the first quarter, while the Acura ZDX added another 4,813.
According to Cox Automotive, Honda led EV sales growth for new entrants in Q1, followed by Acura, Jeep, and Dodge.
Jeep sold 2,595 Wagoneer S models during the quarter, its first electric SUV sold in the US. Dodge, another Stellantis-owned brand, sold 1,947 Charger EVs, or what it calls the world’s first electric muscle car.
Although Chevy’s Equinox EV made a statement in Q1, Ford’s Mustang Mach-E remained the top-selling non-Tesla with 11,607 models sold.
| Rank | EV model | Q1 2025 sales |
| 1 | Tesla Model Y | 64,051 |
| 2 | Tesla Model 3 | 52,520 |
| 3 | Ford Mustang Mach-E | 11,607 |
| 4 | Chevrolet Equinox EV | 10,329 |
| 5 | Honda Prologue | 9,561 |
| 6 | Hyundai IONIQ 5 | 8,611 |
| 7 | Volkswagen ID.4 | 7,663 |
| 8 | Ford F-150 Lightning | 7,187 |
| 9 | BMW i4 | 7,125 |
| 10 | Tesla Cybertruck | 6,406 |
After introducing the upgraded 2025 IONIQ 5 (which now has even more range and an NACS charging port), Hyundai sold 8,611 electric SUVs in Q1, an increase of 26% from last year.
Porsche had the highest EV sales volume growth after launching the electric Macan. With 3,339 units added, the Macan EV made up for Porsche Taycan sales falling 18% to just 1,019.
As Cox Automotive Analyst Stephanie Valdez Streaty noted, “The year certainly started strong, but the road ahead will be anything but smooth.”
Trump ending federal incentives and introducing new tariffs will “pose a monumental challenge for many automakers,” according to Valdez Streaty. Despite several new models arriving and significant incentives being offered (at least for now), the rest of 2025 “will likely be a volatile one for EV sales in the US.”
Ready to score some savings while they are still here? We can help you get started. You can use our links below to find deals on the top-selling EVs in your area.
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![Electric concrete pump truck can drive 30 miles, pump 65 cubic yards [video]](https://i0.wp.com/electrek.co/wp-content/uploads/sites/3/2025/04/putzmeister_electric-pump.jpg?resize=1200,628&quality=82&strip=all&ssl=1)
Based on a capable Volvo FM Electric 8×4 chassis, Putzmeister revealed one of the world’s largest all electric concrete pump trucks at the bauma equipment expo in Munich, Germany this week. The zero-emission concrete pumper can up to 50 km and pump approximately 50 cubic meters of concrete on a single charge.
50 km (a little over 30 miles) and 50 cubic meters (about 65 cubic yards) may not seem like impressive numbers, but consider this: a single cubic yard of concrete weighs a little over 4,000 lbs. (2 tons). A bit of simple math later, and you’ve got a quiet, vibration-free machine blasting (65 cu. yds ×4,100 lbs./yd = 266,500 lbs.) of construction material nearly 140 feet (42 meters) in the air.
That’s over 130 tons of construction material moved a really long way, and that’s (of course) without the use of diesel or gas.
“Volvo Trucks is the innovator when it comes to new technologies in combination with electric trucks. After presenting electric concrete mixers and heavy applications for mining, we are proud to show yet another world-class innovation for the construction segment here at bauma,” says Christoph Fitz, Head of Sales at Volvo Trucks in Germany. “With this electric pump truck, customers can have a zero-exhaust emission solution, low-noise operation and an efficient process thanks to the work-while-charging capacity.”
The Volvo FM Electric-based concrete pump is motivated by a pair of electric motors developing a continuous 330 kW (442 hp) of output through the company’s proprietary I-Shift gearbox. The truck’s four battery packs add up to 360 kWh of capacity, which can DC fast charge at speeds up to 250 kW or operate continuously (pumping even more material) with grid power or PU500 remote power connection.
Electrek’s Take
There will surely be a few nay-sayers who’ll try to cite the relatively short-sounding range of trucks like this, or the 100-ton Tadano mobile electric crane, but the range is typically more than enough to operate in urban environments and motivate the asset across even the largest job sites. Additionally, the ability to plug in to grid power and operate 24/7 makes all of that quieter, safer, cleaner … and moot.
SOURCES | IMAGES: Putzmeister; Volvo Trucks.
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This week on Electrek’s Wheel-E podcast, we discuss the most popular news stories from the world of electric bikes and other nontraditional electric vehicles. This time, that includes an analysis of how the Trump tariffs will affect e-bike pricing in the US, USB-C chargeable e-bikes launched by Ampler, Specialized e-bike recall, Juiced Bikes revived as a brand, kayak camping with the JackRabbit XG Pro, Walkcar’s new device that does the walking for you, and more.
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