Car rental giant Hertz Global Holdings has seen losses narrow significantly over the fourth quarter of financial year, following a recovery in the key US car rental market and a cost cutting drive.
The Hertz Corporation (NYSE: HTZ), the world’s largest general use car rental brand, today announced it has entered a joint commitment with Nissan to bring zero-emission mobility to car rental in the US and Europe by early 2011.
The Hertz Corporation (NYSE: HTZ) and its equipment rental subsidiary, Hertz Equipment Rental Corporation (HERC), have entered into a Joint Venture with Saudi Arabia based Dayim Holdings Company Ltd.
Hertz announced today it will temporarily stop renting vehicles named in Toyota’s voluntary recall.
Hertz is rolling out a new photographic inspection system that takes pictures of cars before and after they are hired in a bid to eliminate disputes over damage. The equipment takes multiple hi-res images of each car, which show up every scratch and dent, and replace the need for customer-staff manual inspections.
Holidaymakers across the UK and Europe are facing significant hikes in car rental fees due to a shortage of vehicles. The collapse of lending has left car hire firms unable to replace their fleets, which has also coincided with the expectation of lower tourist numbers and cost-cutting programmes. However a surge last-minute summer bookings has led to tourists reporting huge price inflation, and in some cases unable to find cars.
Hertz is to cut more than 4,000 jobs in a worldwide restructuring as it makes further cost savings amid slackening demand.The car rental giant has already cut its workforce by 22% in the last two years. The new losses takes the figure to 32% since August 2006.
Alfredo Ruiz Plaza, 46, has been promoted as Vice President of Regional Operations, Europe at Hertz.
Hertz has acted on customer feedback and made it even easier to make and modify car rental bookings online at www.hertz.co.uk, or over the phone.
boo.com, the new travel and social networking site from Web Reservations International, has secured an advertising deal with Hertz.
Hertz UAE has opened a new branch in Dubai, situated in the Radisson SAS Hotel in Dubai Media City.
Hertz has signed a two-year deal with Online Travel Corporation (OTC) to become its exclusive car rental supplier.