That may well be the best reason. I can't help but think that Hertz getting publicly shafted on resale values did provide some influence to go with a financing deal rather than price cut though. Unless someone spills the beans we'll never know.
Not to further get off topic but think Hertz lack of success with Tesla was completely misreading the market. Of course buying at top of market hurt the residual values but more so their renter market's willingness to go with an EV.
I own a Tesla, love driving a Telsa but every time I rent a car I usually plan to be a little more "off the grid" than I am at home - at least for part of the trip. At home I can have a full tank every morning ; on a trip the last thing I want to think about is how do I organize my time so I can make super charger stops or will I run out of range.
If me an owner has these concerns, how to you think average Joe feels?
Unless staying in a city or staying the entire trip at a hotel with a charger I will not rent an EV away from home.
I am a Hertz President's Club member and like Hertz a good amount. A couple times I have rented a Telsa on the app becuase it was renting for less than a midsize car knowing I could upgrade for free at the location to a non electric midsize, SUV, etc...
To make matters worse, when they first started with Telsa rentals were high because prospective Telsa buyers saw it as a chance to test drive the car, there was a shortage of these cars at the centers so you could not easily schedule demo drives like you can today, that was a temporarily boost and likely caused them to increase their order volume with Telsa prematurely.
Lastly many of the Telsa renters were rideshare folks absolutely abusing the cars and running up crazy mileage. For the ride share folks the lower operating costs made the Tesla rental a great option.
Add that all up and it did not work well for Hertz to go all in on Telsa vehicles as rentals.