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Higher volume, lower operating expense drove record net income and EBITDA for Hertz.
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Overall industry revenues grew an astounding 24.7% over 2021, easily outpacing the previous record set in 2019.
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Hertz's Q3 earnings are up 12% year over year, yet car sales gains came in lower as residual values declined steeper than expected.
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The U.S. car rental industry’s expected revenues of $28.1 billion in 2021 represent the largest year-over-year gain in recorded history.
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