15 NOVEMBER 2021
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Whilst Hertz Corporation filing for Chapter 11 protection in May 2020 has not affected its UK or worldwide vehicle hiring business its return on Nasdaq last week will be seen as a confidence builder for the future.
The shares ae now at $26.97 with little movement.
Hertz recently hit the headlines with a massive $4.2bn order for 100,000 vehicles from Tesla. Based in Estero, Florida, it operates approximately 12,000 corporate and franchisee locations, both domestically and internationally. It also manages the Thrifty Car Rental and Dollar Rent A Car brands.
Hertz is now worth slightly more than it was in 2019. Hertz had about $5bn of revenue in the first nine months of the year, a third more than last year but about half what it was in the total year for 2019. Avis is still slightly smaller in market value terms.
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