Rental firm Hertz Global Holdings said on Thursday it would sell about 20,000 electric vehicles from its U.S. fleet due to higher expenses related to collision and damage, and will opt for gas-powered vehicles.
Shares of the company, which operates vehicles from Tesla Inc. and Swedish EV maker Polestar among others, fell about 3 per cent at market open.
Hertz had said it would order 100,000 Teslas by the end of 2022 and followed that with a decision to buy up to 65,000 units over five years from Polestar.
"Expenses related to collision and damage, primarily associated with EVs, remained high in the quarter," Hertz said in a regulatory filing on Thursday.
The company had previously set a target for 25 per cent of its fleet to be electric by the end of 2024.
Hertz expects about US$245 million of incremental depreciation expenses from the proposed sale in the fourth quarter of 2023 and warned of a hit to adjusted corporate core profit for the period.
The company said it would continue to focus on improving profitability for the remainder of its EV fleet.
Hertz's used car website lists more than 700 EVs on sale including BMW's i3, Chevrolet's Bolt and Tesla's Model 3 and Model Y SUVs.
The streets of downtown Ottawa are turning into a sea of orange with hundreds of people already in place on Parliament Hill ahead of a ceremony to honour the survivors of Canada's residential school system and the children who never made it home.
This week, Avery Haines follows migrants' harrowing journeys across the Darien Gap. Strict new rules to stem the flood of migrants through the notorious stretch of dense jungle appear to be working, but advocates fear it could backfire.
Officials tell The Associated Press that Israel has launched small, precision raids across the border in Lebanon and that a larger ground operation is being planned.
It had been 48 hours since the winds and rains from Hurricane Helene ripped through western North Carolina and Sam Perkins still had not heard from his parents.
Health Canada issued a recall last week for various sexual enhancement products for containing prescribed drugs like tadalafil and sildenafil.
Foreign Affairs Minister Mélanie Joly is asking members of the United Nations to counter growing political polarization abroad while taking shots at Conservative rhetoric at home.
Dikembe Mutombo, a Basketball Hall of Famer who was one of the best defensive players in NBA history and a longtime global ambassador for the game, died Monday after a battle with brain cancer, the league announced. He was 58.
Have you been caught in a bind, far from home, that could have been avoided with the timely purchase of an insurance package? We want to hear from you.
Thousands of years ago in the Himalayas, a river ate a smaller river and gave an unexpected boost to Everest's height, scientists have discovered.
A B.C. condo owner who was blamed for a cockroach infestation in her building and charged thousands of dollars for the cost of eradicating the bugs must be refunded, the civil resolution tribunal ruled.
The son of a Canadian couple killed during Israeli strikes on Lebanon last week says Ottawa must do more to help citizens leave the country as fighting between Israel and the Hezbollah militant group intensifies.
Seas of orange shirts have come to represent a growing awareness of Canada's history of oppressing Indigenous Peoples – but that awareness must translate into more "substantive changes" from the government, according to a B.C. chief.
A child was sent to hospital after being attacked by a coyote in northwest Calgary.
He may not have logged the fastest time or even gone the full distance, but residents of a Newfoundland town agree the goat who unexpectedly joined the local weekend half marathon was the event's undisputed champion.
Dockworkers kicked off a three-day strike at the Port of Montreal on Monday, shutting down two terminals that handle more than 40 per cent of the container traffic at Canada's second-largest port.
For the first time in Rwanda’s history, its health ministry is dealing with an outbreak of Marburg virus disease, a rare but deadly hemorrhagic disease similar to Ebola – but unlike Ebola, there is no treatment or vaccines for Marburg, and it has a fatality rate of 88 per cent.
A man who authorities say spent 12 hours camped outside Donald Trump's golf course before Secret Service spotted him with a rifle pleaded not guilty on Monday to federal charges including attempted assassination.
Republican JD Vance and Democrat Tim Walz will meet Tuesday in the lone vice presidential debate of the 2024 election, bringing together undercards who have spent two months going after each other and the opposing nominees who top the major-party tickets.
Nearly 6,000 people in Haiti are starving, with nearly half the country's population of more than 11 million people experiencing crisis levels of hunger or worse as gang violence smothers life in the capital of Port-au-Prince and beyond, according to a new report released Monday.
Officials tell The Associated Press that Israel has launched small, precision raids across the border in Lebanon and that a larger ground operation is being planned.
A California man charged with shooting and wounding two Jewish men as they left synagogues in Los Angeles last year was sentenced Monday to 35 years in prison, federal prosecutors said.
Foreign Affairs Minister Mélanie Joly is asking members of the United Nations to counter growing political polarization abroad while taking shots at Conservative rhetoric at home.
The Liberal government is announcing more details on its existing strategy and funding to fight hate crimes.
Migrant groups are pushing the federal government to reverse its cap on international study permits and tightening post-graduate work permit qualifications, claiming it will leave many students 'in limbo.'
Health Canada issued a recall last week for various sexual enhancement products for containing prescribed drugs like tadalafil and sildenafil.
The family of Kendyl Smith-Trimm, a young girl who bravely battled cancer, has raised a staggering $66,500 in her memory for the Children's Hospital of Eastern Ontario.
The fertility rate in Canada reached an all-time low in 2023, and the lowest rate was recorded in British Columbia, according to new data from Statistics Canada.
The two astronauts stuck at the International Space Station since June welcomed their new ride home with Sunday's arrival of a SpaceX capsule.
The space rock — 2024 PT5 — was first spotted in August by astronomers at Complutense University of Madrid using a powerful telescope located in Sutherland, South Africa.
Canadian innovators and technical leaders gathered in Ottawa Thursday to demonstrate the latest cutting-edge technology.
A New Mexico judge on Monday denied 'Rust' armorer Hannah Gutierrez Reed's request for new trial and upheld her involuntary manslaughter conviction for the 2021 death of cinematographer Halyna Hutchins.
Oasis shocked fans by announcing a reunion tour last month, ending a 15-year hiatus and, presumably, the long-held feud between brothers Liam and Noel Gallagher. But those were only U.K. dates. On Monday, the band shared that they're planning on heading to North America in 2025, too.
Kris Kristofferson, a Rhodes scholar with a deft writing style and rough charisma who became a country music superstar and an A-list Hollywood actor, has died.
Dockworkers kicked off a three-day strike at the Port of Montreal on Monday, shutting down two terminals that handle more than 40 per cent of the container traffic at Canada's second-largest port.
The COVID-19 pandemic and the resetting of the economy that followed it made hourly workers more aware of their value. Some experts think employers should expect to field demands for flexible hours and other workplace incentives even as the labor market weakens.
Ask Meta Platforms Inc.'s head of artificial intelligence research how the technology could be made safer and she takes inspiration from an unlikely place: the grocery store.
Have you been caught in a bind, far from home, that could have been avoided with the timely purchase of an insurance package? We want to hear from you.
Kim Ruether lifted her son's eyelid and saw his still, dilated pupil staring at the ceiling as he lay on a stretcher in a northwestern Alberta hospital hallway a decade ago. She says she didn't need a doctor to tell her the boy was dead.
Many people consider eating less meat, be it for health, environmental or animal-welfare reasons. (Livestock accounts for nearly half of agricultural emissions fueling climate change.) But they sometimes hesitate because they are concerned about how they would replace all that lost protein.
Toronto Raptors team president Masai Ujiri tried to lay to rest rumours that he has friction with Edward Rogers, the executive chair of Rogers Communications, Inc.
Dikembe Mutombo, a Basketball Hall of Famer who was one of the best defensive players in NBA history and a longtime global ambassador for the game, died Monday after a battle with brain cancer, the league announced. He was 58.
On Saturday night at her parents’ home in Delaware, Ont. the Olympic bronze medallist in pole vault welcomed everyone who played a role in getting her to the podium in Paris.
General Motors’ Cruise autonomous vehicle division will pay a US$1.5 million penalty after the unit failed to fully report a crash involving a pedestrian, the National Highway Traffic Safety Administration said Monday.
A tale about a taxicab hauling gold and sinking through the ice on Larder Lake, Ont., in December 1937 has captivated a man from that town for decades.
A U.S. driver somehow squeezed her vehicle through a parkade hallway at a Metro Vancouver casino Thursday, before getting stuck at an elevator bank.
On Saturday night at her parents’ home in Delaware, Ont. the Olympic bronze medallist in pole vault welcomed everyone who played a role in getting her to the podium in Paris.
A tale about a taxicab hauling gold and sinking through the ice on Larder Lake, Ont., in December 1937 has captivated a man from that town for decades.
When a group of B.C. filmmakers set out on a small fishing boat near Powell River last week, they hoped to capture some video for a documentary on humpback whales. What happened next blew their minds.
A pizza chain in Edmonton claims to have the world's largest deliverable pizza.
Sarah McLachlan is returning to her hometown of Halifax in November.
Wayne MacKay is still playing basketball twice at Mount Allison University at 87 years old.
A man from a small rural Alberta town is making music that makes people laugh.
An Indigenous artist has a buyer-beware warning ahead of Sept. 30, the National Day for Truth and Reconciliation.
Police are looking to the public for help after thieves broke into a Lethbridge ice creamery, stealing from the store.
The residential “school†survivor whose story sparked Orange Shirt Day — and the “Every Child Matters†movement — says she is worried the cause is being forgotten.
A B.C. condo owner who was blamed for a cockroach infestation in her building and charged thousands of dollars for the cost of eradicating the bugs must be refunded, the civil resolution tribunal ruled.
British Columbia's election campaign is entering its second week with each party's team of candidates in place and the leaders looking ahead to the upcoming televised debate.
Toronto police have charged a suspect with second-degree murder following a deadly stabbing at a Scarborough home on Sunday afternoon.
Toronto police say they have identified two suspects who allegedly assaulted and spat at police during a pro-Palestinian protest downtown earlier this month, and they are trying to identify one more.
Ryan Hunter's athleticism has been on full display since his arrival in the CFL, but the Canadian's versatility is now shining through.
The Calgary police homicide unit is investigating after two people were found dead in a home in the community of Penbrooke Meadows.
Blood Tribe Chief Roy Fox says the death of Jon Wells on Sept. 17 after a scuffle with police at a Calgary hotel has brought back memories of a public inquiry in the 1980s that “underscored the cultural gap†between his community and police.
A 14-year-old has been missing from Marlborough for two weeks, and police are hoping you can help find them.
The streets of downtown Ottawa are turning into a sea of orange with hundreds of people already in place on Parliament Hill ahead of a ceremony to honour the survivors of Canada's residential school system and the children who never made it home.
Health Canada has granted a three-year exemption under the Controlled Drugs and Substances Act to one of Lowertown's safe consumption sites that will allow the facility to continue operating.
The National Day for Truth and Reconciliation is a day of learning and confronting hard truths, and some schools in Ottawa attended the Beechwood Cemetery on Monday to understand the legacy of residential schools.
Several windows were damaged and spray painted with 'Free Gaza' during a protest at Concordia University Sunday night, Montreal police say.
A group of 23 bilingual municipalities are in Quebec Superior Court today to ask a judge to suspend the application of several portions of the province's 2022 language reform.
Dockworkers kicked off a three-day strike at the Port of Montreal on Monday, shutting down two terminals that handle more than 40 per cent of the container traffic at Canada's second-largest port.
Mike Hoffman's shot at a spot on the Edmonton Oilers' roster is over.
Mounties say one person is dead in the aftermath of a collision involving two vehicles south of Calmar on Sunday.
Kim Ruether lifted her son's eyelid and saw his still, dilated pupil staring at the ceiling as he lay on a stretcher in a northwestern Alberta hospital hallway a decade ago. She says she didn't need a doctor to tell her the boy was dead.
The St. Andrews Historical Society in St. Andrews, N.B., announced that it would exhibit “one of the most significant 18th-century treaties between Great Britain and two First Nations of Canada†at Drewhaven Town & Country on Thursday.
He may not have logged the fastest time or even gone the full distance, but residents of a Newfoundland town agree the goat who unexpectedly joined the local weekend half marathon was the event's undisputed champion.
This Monday, Sept. 30 is the National Day for Truth and Reconciliation, a federal statutory holiday and day of remembrance for the Indigenous children who never came home from Canadian residential schools, as well as those who survived them.
Residents in Tadoule Lake, Man., and Churchill can expect to see heavy rain trickle in Sunday afternoon, lingering until Monday evening.
Canadian Space Agency astronaut Jeremy Hansen touched down in Winnipeg this week, ahead of his lunar mission set to launch in a year’s time.
Winnipeg Fire Paramedic Service crews believe a candle caused a major house fire in the city’s William Whyte neighbourhood Sunday afternoon.
A man is in custody after allegedly robbing a business in McLean, Sask. with an edged weapon on Saturday.
The Friends of the Regina Public Library (FRPL) sponsored an architectural tour on Sunday, for folks looking to learn more about the history of the library's historic central branch.
With the writs expected to drop this week for the Saskatchewan general election, political experts say Scott Moe's Saskatchewan Party is on track for a fifth majority government but will lose seats to Carla Beck's NDP.
An Etobicoke resident was taken to hospital after he told a Guelph Police officer he had been stabbed during Homecoming celebrations near the University of Guelph.
A woman has been charged as part of a murder investigation in Brantford.
A Guelph woman has been charged after another woman said her boyfriend was shot with a BB gun during an argument over smoking.
With the writs expected to drop this week for the Saskatchewan general election, political experts say Scott Moe's Saskatchewan Party is on track for a fifth majority government but will lose seats to Carla Beck's NDP.
Monday marks the National Day for Truth and Reconciliation across Canada — a time to honour the Indigenous peoples impacted by the brutal legacy of residential schools.
The fourth and final walk in memory of Megan Gallagher drew around one hundred people in Saskatoon on Sunday.
A 73-year-old man on a mobility scooter was killed Sunday night in Sudbury after being hit by a vehicle on Lasalle Boulevard and Barry Downe Road.
There were some tense moments in downtown Sudbury on Saturday night after patrol officers found a pipe bomb in the trunk of a vehicle during a traffic stop.
A pedestrian has died after reportedly getting struck by an OPP cruiser in Bala early Sunday morning.
Students from three elementary schools in the Thames Valley District School Board (TVDSB) were taking part in a day of learning on the National Day for Truth and Reconciliation.
The City of London is informing drivers about temporary road restrictions on Wellington Street as part of the Downtown Loop Phase 3 finishing work and surface paving.
The very first -20 degree Celsius reading of the year has been recorded in Canada’s arctic – a good reminder that summer is officially behind us.
The fourth annual National Day for Truth and Reconciliation saw plenty of community members gathering across Barrie on Monday, reflecting on the impacts of residential schools and honouring survivors.
Around 20 South Simcoe Police officers attended the 47th annual Canadian Police and Peace Officers' Memorial Service in Ottawa on Sunday with three fallen constables in their hearts.
An early Sunday morning fire in Colgan that caused significant damage is under investigation.
U.S. Customs and Border Protection officers seized $11,000 US from an inbound American citizen at the Ambassador Bridge.
A section of Drouillard Road will close this week for an infrastructure renewal project.
The City of Windsor has unveiled plans for the “Park in Perfect Harmony†initiative in the downtown core.
The residential “school†survivor whose story sparked Orange Shirt Day — and the “Every Child Matters†movement — says she is worried the cause is being forgotten.
Seas of orange shirts have come to represent a growing awareness of Canada's history of oppressing Indigenous Peoples – but that awareness must translate into more "substantive changes" from the government, according to a B.C. chief.
British Columbia's election campaign is entering its second week with each party's team of candidates in place and the leaders looking ahead to the upcoming televised debate.
Fire crews in Vernon, B.C., responded to a large house fire early Saturday morning.
A pair of runaway pigs are in the custody of an animal sanctuary in the Okanagan after evading police and volunteers for hours earlier this week.
The Red Bridge, a historic landmark in Kamloops, B.C., was completely destroyed by fire early Thursday morning.
The sentencing for three men convicted of helping lead and coordinate the COVID-19 protest blockade at Coutts, Alta., in 2022 has been delayed.
A 10-year-old boy from Lethbridge is being praised as a hero after a routine summer outing at the pool nearly turned tragic for his friend.
A man and woman have been charged after a Lethbridge ice creamery was broken into earlier this week. Staff arrived at Cookie Crimes, in the 300 block of Sixth Street South, just before 5:30 a.m. on Monday to discover the front window broken.
Overnight on Thursday as the community of Elliot Lake was resting to prepare for the upcoming Kraft Hockeyville celebrations, when vandals struck a building that has been top of mind for the northern Ontario city for more than a year.
Ontario Provincial Police remind the public that ‘a case is never closed until it is solved,’ while highlighting the force's continued investigation of the 1996 disappearance of Melanie Ethier.
Sault residents may notice some commotion on the Algoma University campus over the next two weeks as a team conducts an archaeological search.
He may not have logged the fastest time or even gone the full distance, but residents of a Newfoundland town agree the goat who unexpectedly joined the local weekend half marathon was the event's undisputed champion.
A mother in a community where the cost of living is one of the highest in the country says grocery prices are 'inhumane' and retailers are putting profits ahead of people’s basic human right to food.
A soccer game in England on Tuesday night drove a spike in online traffic across the Atlantic to a website launched by the Newfoundland and Labrador government.
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