Organizations

Hertz

Avis serving customers at SFO

Covid-19 Slammed Rental-Car Firms, Then Business Turned Around

By: Nora Naughton
Source: The Wall Street Journal
Date of Publication: November 2nd, 2020
After a big collapse in bookings this spring, Avis, Enterprise are benefiting from higher used-car prices and a preference for traveling by auto.
No windfall for consumers from shrinking car rental fleets

No windfall for consumers from shrinking car rental fleets

By: Ann Carrns
Source: Star Tribune
Date of Publication: June 27th, 2020
The coronavirus and the related drop-off in travel have pummeled the rental-car industry. That means car shoppers may find deals on used vehicles this summer as the rental companies trim their fleets — but not necessarily bargain-basement discounts.
Bankrupt Hertz files to sell up to $500 million in stock, with warning they could be 'worthless'

Bankrupt Hertz files to sell up to $500 million in stock, with warning they could be 'worthless'

By: Tomi Kilgore
Source: Market Watch
Date of Publication: June 15th, 2020
Shares of Hertz Global Holdings Inc. HTZ, -13.78% plunged 20% in premarket trading Monday, after the bankrupt car rental company filed for the sale up up to $500 million worth of common stock. The filing comes after Hertz received approval on Friday from a bankruptcy court to sell up to $1 billion in stock. The company warned in the filing that because the company is bankrupt, the common stock could be rendered "worthless."
Hertz's, Avis Budget's and Enterprise's business has ground to a near halt. This is what that means for automakers and car buyers

The rental car industry has ground to a near halt. This is what that means for automakers and car buyers

By: Chris Isidore
Source: CNN
Date of Publication: May 25th, 2020
The nation's rental car companies are in deep trouble. And that's another blow for the already struggling auto industry.
Hertz files for bankruptcy

Hertz files for bankruptcy

By: Chris Isidore
Source: CNN Business
Date of Publication: May 24th, 2020
Hertz filed for bankruptcy Friday night, the latest victim of the sudden economic downturn sparked by the Covid-19 pandemic.
Hertz Bankruptcy And Fleet Liquidation Threaten To Make Mess Of Used-Vehicle Prices With Burst Of 'Pent-Up Supply'

Hertz Bankruptcy And Fleet Liquidation Threaten To Make Mess Of Used-Vehicle Prices With Burst Of 'Pent-Up Supply'

By: Wolf Richter
Source: Seeking Alpha
Date of Publication: May 25th, 2020
Here come the “bankruptcy-remote special-purpose subsidiaries” and $14.5 billion in rental-vehicle-backed securities. The Chapter 11 bankruptcy filing of Hertz Corporation and its US and Canadian subsidiaries threatens to make a royal mess of used-vehicle wholesale prices. Further valuation pressures and bigger losses for Hertz creditors, the entire rental car industry, and leasing companies that also have to dispose of their vehicles.
Hertz Healthcare Honor.pdf

Hertz thanks our healthcare workers.

By: Kathy Marinello
Source: Hertz
Date of Publication: April 26th, 2020
Hertz letter to its customers and healthcare workers and outlining the company's response to the coronavirus crisis.