By Jo Nova

With the western world hurtling into new cars that are more costly, inconvenient, slower to refuel, and prone to burning down carparks and cargo ships, it was only a matter of time before the cracks in the socialist car market started to show.

Around the world tonight headlines are sharing the news that Hertz is selling off 20,000 EVs, one third of their fleet, in order to buy some more fossil fuel cars. That can’t be inspiring news for customers thinking of giving up their gas guzzlers. As Oilprice said: Hertz’s Big Move Into EVs Turned Out To Be A Dud. And as Reuters headlined: Rental giant Hertz dumps EVs, including Teslas, for gas cars.

It was the perfect storm in a bad way. Apparently the customers didn’t want to rent them, and when they did and they scratched them, they cost too much to fix. (Repair costs were twice as high). Then the bottom fell out of the second-hand market, and to recover the depreciation losses, Hertz would have to raise the prices on a product customers already didn’t want. There was no way this was going to work.

The official dry Hertz announcement […]