After renting a Tesla from Hertz, this renter shares ideas on how to make the experience better.
Hertz’s massive EV rental initiative will have impacts in the corporate and B2B sectors. It will also provide a hedge against supply shortages and deflated pricing, whenever that comes. But blazing a trail is never easy.
Earnings fared even better, as Hertz posted $614 million in adjusted corporate EBITDA — its best performance in the first quarter since 2007.
Ned Ryan steps in as the new chief product development officer for Hertz, to oversee the company's efforts to deliver connected products and technology.
The collaboration will allow Hertz to leverage its electric vehicle fleet and build its global electric vehicle charging infrastructure.
The new global strategic partnership between the two brands is part of a plan to accelerate electric vehicle adoption.
As part of its plan to add 100,000 Tesla vehicles to its fleet by the end of 2022, Hertz will be offering the Model Y SUV at select locations in April. The company has offered the Model 3s since October.
Hertz’s 2021 fourth quarter and full year earnings call shed light on its post-bankruptcy future, the near-term prospects for car rental fleet and demand, progress in EV rentals, and a new corporate mindfulness.
The court case represented 230 Hertz customers who claim they were wrongly accused and arrested. Most of the cases appear to have been created by Hertz's computer system that wasn't able to locate a car or if a customer's payment didn't go through.
Revenues were 78% higher than the fourth quarter of 2020 yet were 9% below the fourth quarter of 2019. Adjusted corporate EBITDA of $628 million for the quarter was a record for the company.
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