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In my recent report, "The Party Is Over For Subaru", I received several comments from readers. One of the more interesting comments came from a reader who said he recently purchased a 2023 Subaru Solterra from Hertz at a deep discount. Here are his comments, and then I'll explain more about Subaru's future in the market with new EVs coming.
The Hertz EV firesale is on.
A report from CNN says, "Hertz, which has made a big push into electric vehicles in recent years, has decided it's time to cut back. The company will sell off a third of its electric fleet, totaling roughly 20,000 vehicles, and use the money they bring to purchase more gasoline-powered vehicles."
Why are EV prices so soft at Hertz?
"Collision and damage repairs on an EV can often run about twice that associated with a comparable combustion engine vehicle," Hertz CEO Stephen Scherr said in a recent analyst call.
Rick Goddard, a faithful reader of my reports, purchased one of the Hertz sales vehicles.
He says, "We just bought a 2023 Solterra with 7000 miles on it. It was a Hertz vehicle, and they are unloading all of their EVs at deep discounts (ours was $27,000), which could explain the soft pricing."
The Solterra price when it was new for the mid-level Limited trim was $49,720, which included destination and delivery fees ($1,225). I'm guessing the trim level Hertz sold to Rick was a Solterra Limited. I found a few on the Hertz website for sale at the $27,000 price.
With only 7,000 miles on the Solterra, that's a significant discount of nearly $23,000. This is not just a good deal, it's a smart financial move for EV shoppers, offering substantial savings on a high-quality vehicle.
As a Subaru owner, Rick Goddard is optimistic about the future. He says, "It's a great car, but any EV will suffer high depreciation for a while as new EVs with longer range and better charge times come on the market. As far as other Subarus go, interest rates will recede, their reliability and quality will be in demand, and pricing will hold. Not worried about Subaru's future at all."
His positive outlook should reassure potential buyers about the value of their investment.
What is Subaru's hybrid and EV future?
Subaru will develop and sell four new hybrid models and three new battery-electric vehicles (BEVs) by the end of 2028.
The Forester is the first Subaru hybrid coming next year, followed by the Crosstrek, Hybrid, Outback Hybrid, and possibly the Ascent Hybrid. Subaru may drop the Ascent, turn it into an EV, or redesign it in a new hybrid trim level. Read my Subaru Hybrid report here for more information.
Subaru will offer three new BEVs in North America.
- An "Ascent-sized" 3-Row EV built in Kentucky in collaboration with Toyota is coming for U.S. customers in late 2025.
- A Forester-sized compact SUV BEV developed in-house on the e-Subaru platform is set to debut in 2027. Subaru has yet to release any details.
- An Outback-sized electric wagon developed in-house on the e-Subaru platform will debut in 2028.
The new Subaru Wagon EV will likely be developed in-house on the e-Subaru Global Platform and manufactured in Gunma, Japan, alongside the new 2-Row electric compact SUV. Both will be available for North American customers. More details are coming. Check out my report here for more information.
In the meantime, if you are looking for a new Subaru Solterra, Hertz rentals is having a fire sale going on now. Check them out here for more details.
Have you purchased a Subaru Solterra or another car from Hertz? What kind of a deal did you get? If so, click the red Add New Comment link below and let us know.
I am Denis Flierl, a Senior Torque News Writer since 2012. I’ve invested over 13 years in the automotive industry in a consulting role, working with every major car brand. I am an experienced Rocky Mountain Automotive Press member. You'll find my expert Subaru analysis here. Follow me on my X SubaruReport, All Subaru, WRXSTI, @DenisFlierl, Facebook, and Instagram.
Photo credit: Adventure Subaru
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