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Hertz to buy 65,000 vehicles from Polestar over next five years

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On Monday, Swedish electric vehicle manufacturer Polestar and Hertz Corporation announced a deal that sees the carmaker sell 65,000 EVs to the rental company....
Musk

Elon Musk named ‘TIME’ Person of the Year 2021

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The CEO of the electric car brand Tesla has a new title to add to his extremely busy Twitter profile. TIME Magazine has named Elon Musk as Person of the Year 2021, putting a stamp on the billionaire’s banner year. Though the title certainly comes with some honor, the designation paints his influence and demeanor […]
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Hertz

Hertz places largest fleet order of Tesla EVs to date

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Early on Monday, rental car company Hertz confirmed in a press release that they have ordered 100,000 Tesla EVs for their fleet operations. The deal is worth $4.2 billion, and the vehicles are to be delivered to Hertz by the end of 2022. In addition to the EV purchases, Hertz will implement their own charging […]
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Hertz

Hertz names Mark Fields as Interim CEO

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ESTERO, Fla., Oct. 5, 2021—Hertz announced today it has named Mark Fields as interim CEO and Paul Stone as president and chief operations officer, as the company accelerates its...
auto sales

CBT automotive newscast: September 14, 2020

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Today’s Featured Interview: CBT News Market Update: Michael Tyman, Professional Success & Giovanna Scognamiglio, LotLinx The first half of September is behind us, and here is...
rental

Hertz navigating bankruptcy, but rental car industry expecting growth

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The goliath car rental corporation Hertz Global Holdings continues to battle their way through bankruptcy proceedings post-COVID. On May 22, 2020, Hertz filed for bankruptcy protection in the throes of the pandemic with roughly $19 billion in debt and almost 700,000 rental vehicles sitting idle. In Q2 2020 alone, a net loss of $847 million […]
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J.D. Power

J.D. Power’s Larry Dixon Examines Used-Car Market Performance as We Near...

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On today’s show, we’re pleased to welcome back Larry Dixon, Senior Director of Valuation Services at J.D. Power, who was recently featured in the WardsAuto article, “Car Dealers Stop ‘Freaking Out’ About Used-Vehicle Sales.” In this segment, Larry gives us his take on how the used car market has fared amidst the pandemic, as we […]
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rental car

Struggling Rental Car Market Could Be Solution for Pre-Owned Inventory

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After more than a century in business, Hertz Global Holdings Inc. filed for bankruptcy on May 22, 2020. The Estero, Florida-based corporation operates more than 10,200 Hertz car rental locations in 150 countries and includes Hertz Car Rental, Thrifty Car Rental, and Dollar Rent a Car under its umbrella. Collectively, the three rental companies have […]
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