Tag Archives: Hertz

SF Gate reports: After a deep investment in electric vehicles — Hertz purchased 100,000 Teslas three years ago — the country’s second-largest rental car company is starting to scale back on its Tesla stock by selling off its electrified fleet at eye-raising prices. A Hertz customer posted a screenshot on Reddit last week with a deal to purchase a 2023 …

Reuters reports: Tesla Inc on Monday (Oct 25) neared US$1 trillion (S$1.35 trillion) in market capitalisation as the company founded by Elon Musk received its biggest-ever order – 100,000 electric rental cars for Hertz. Tesla shares were up 7.5% at US$978, hitting a new record high Monday, following the order. Shares were also buoyed by news of the company’s Model …

USA Today reports: Weeks after filing for Chapter 11 bankruptcy protection on May 22, car rental company Hertz is selling vehicles in its fleet at discount prices. As of Saturday morning, Hertz had thousands of used cars available on its website HertzCarSales.com. The volume of cars for sale in an area depends on the location used in the search and …

Yahoo Finance reports: Global car rental company Hertz became the latest economic casualty of the coronavirus pandemic Friday, filing for bankruptcy in the US and Canada after more than a century in business. “The impact of COVID-19 on travel demand was sudden and dramatic, causing an abrupt decline in the Company’s revenue and future bookings,” Hertz said in a press …

MarketWatch reports: Shares of Hertz Global Holdings Inc. fell more than 30% in the extended session Friday after The Wall Street Journal reported the car-rental company’s bankruptcy could come as early as Friday night. Hertz has failed to reach a deal with top lenders, the newspaper reported, citing people familiar with the matter. Nationwide restrictions on travel put in place …

Yahoo Finance reports: Lenders granted Hertz Global Holdings Inc. an eleventh-hour reprieve from a potential bankruptcy, giving the struggling rental-car company more time to work out a rescue plan after it missed debt payments. The forbearances and waivers give Hertz until May 22 to “develop a financing strategy and structure that better reflects the economic impact of the Covid-19 global …