Hertz Global Holdings Inc. plans to sell a third of its U.S. electric vehicle fleet and reinvest in gas-powered cars due to weak demand and high repair costs for its battery-powered options.

For the first time since 1931, General Motors Co. isn’t the top-selling automaker in the U.S. The Detroit-based company lost its crown to Japanese rival Toyota Motor Corp., which boosted sales 10% last year despite a 28% decline in the fourth quarter.