Seeking Alpha

Hertz Global to sell cars amid weak demand

  • Hertz Global (HTZ) will reduce its fleet over the next six months as demand at U.S. airports continues to disappoint.
  • The company will look to sell some of its fleet to U.S. consumers, according to CEO Mark Frissora.
  • HTZ -0.7% premarket.
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Comments (8)
  • KJP712
    , contributor
    Comments (454) | Send Message
     
    U.S. consumers are not in the Market for cars that have been run into the ground.Matter of fact I see more people riding bicycles lately or waiting for the bus.
    7 Oct 2013, 11:42 AM Reply Like
  • TFCAB
    , contributor
    Comments (2011) | Send Message
     
    KJP - What does that have to do w/ renting a car at an airport?? or do you have a bike waiting for you upon arrival?
    7 Oct 2013, 11:56 AM Reply Like
  • KJP712
    , contributor
    Comments (454) | Send Message
     
    It is quite possible that there is no one at the airports to rent cars.That is why Hertz is selling the used vehicles but who will buy them is my point.Not a great position for them to be in.
    7 Oct 2013, 12:06 PM Reply Like
  • TFCAB
    , contributor
    Comments (2011) | Send Message
     
    Gotcha.......
    7 Oct 2013, 12:41 PM Reply Like
  • spald_fr
    , contributor
    Comments (2803) | Send Message
     
    Anyone old enough to remember OJ running through airports for Hertz?
    7 Oct 2013, 02:03 PM Reply Like
  • CaladesiKid2
    , contributor
    Comments (275) | Send Message
     
    Weak demand for car rentals at airports? It seems reasonable to assume that most Hertz car rentals are for business travelers. Perhaps we have another 'coincidental indicator' of a softening business environment.
    7 Oct 2013, 12:44 PM Reply Like
  • dieuwer
    , contributor
    Comments (2561) | Send Message
     
    Why don't you look at the amount of taxes and fees added to your airport rental car. When all is said and done, your bill will easily increase by 50%.
    People are sick and tired of being gauged at the airport rental desk and rather rent off-airport or not at all.

     

    Here is an example at BOS (10/21-10/25):

     

    Car rental for 4 days at $39.49/day = $157.96

     

    ADDED FEES:
    Airport Concession Fee Recovery On Flight Arrivals: $18.76
    Customer Facility Charge: $24.00
    Convention Center Surcharge & Parking Fine Recovery: $10.60
    Vehicle Licensing Cost Recovery and Excise Tax Reimbursement: $9.32
    Energy Surcharge: $1.49

     

    TOTAL FEES: $64.17!
    TAXES: $11.17!

     

    FINAL TOTAL: $233.84!!
    7 Oct 2013, 02:42 PM Reply Like
  • charlesetravel
    , contributor
    Comment (1) | Send Message
     
    Airport demand is being affected by the tax and fee and price increases on airport car rentals. Some travelers take cabs to off airport locations for multiple day rentals.
    Black car service is very competitive on cost with short term rentals when total cost is calculated. This especially applies to major cities.
    7 Oct 2013, 03:31 PM Reply Like
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