October 28, 2020

    Daily Auto News, Luxury Cars, Photos, Prices, Spy Shots, Videos, Incidents and more
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    Hertz to pay lenders $650 million to resolve dispute over fleet decrease

    Hertz Global Holdings, which in addition to its own rental car brand consists of the Dollar and Thrifty brands, stated on Friday it has reached an interim $650-million deal with its lenders for resolving a bankruptcy court fight over the company’s plan to decrease its leased fleet of rental cars. According to reports, the deal will slash […]

    American
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    Hertz drops plan to sell $500 million of stock after SEC review

    After the company missed a $400 million lease payment in early May, they had to file for bankruptcy protection. Hertz abandoned its plan to sell $500 million in common stock Wednesday pending a review from the Securities and Exchange Commission (SEC) after the rental car company stated the shares “could ultimately be worthless”. The company’s […]

    American
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    Hertz selling a fleet of cars at a discount after bankruptcy

    As the coronavirus has taken a toll on a number of big businesses, including rental car company Hertz, the company is now selling a fleet of cars at a discount. Hertz had to file for bankruptcy following a dramatic decline in rentals during the coronavirus crisis, resulting in the company to sell its fleet of vehicles at […]

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    Rental car prices see decrease due to coronavirus crisis

    After Hertz and Advantage filed for bankruptcy protection in May, some costumers worried that might mean a shortage in rental vehicles this summer. But the opposite may be true as bankruptcy protection does not mean companies are no longer doing business. With domestic air travel starting to pick up rental car companies are depending more […]

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    Hertz files for bankruptcy protection as coronavirus hits business

    Hertz, which started with a fleet of some Ford Model T’s a century ago and became one of the world’s largest auto rental companies, has filed for bankruptcy protection on Friday as the debt mounts on the company. The coronavirus pandemic has devastated the company by grounding business travelers and tourists, making it impossible for […]

    American
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    Hertz canceled most new-car orders as restrictions hit travel

    As Hertz Global Holdings Inc. makes attempts to stay out of bankruptcy, the company has canceled 90% of its new-car purchases for the 2020 model year, a move likely to depress fleet sales further by major automakers. CEO Kathy Marinello announced the cost-cutting move in a short 20-minute conference call Tuesday, one day after the […]

    American
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    Car rental company Hertz to lay off 10,000 workers due to COVID-19

    U.S. car rental company Hertz Global Holdings stated on Monday that it prepares to lay off 10,000 workers throughout its North America operations to cut costs amid the ongoing COVID-19 coronavirus crisis. Hertz had about 38,000 workers as of Dec. 31, 2019, of which 29,000 were at its U.S. operations. The company, which counts billionaire […]

    American
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    Hertz CEO stepping down in January 2017

    U.S. car rental business Hertz Global Holdings Inc stated this week that it would change its CEO and decrease its board size in January, moves backed by its most significant investor Carl Icahn. Hertz stated CEO John Tague would retire on January 2, a little more than 2 years after he got the position with […]

    American

    Hertz and Penske Racing reveal special edition Mustang GT

    The Shelby GT350H became an instant classic when it was introduced way back in 1966 and now Hertz is looking to recreate similar magic by teaming up with Penske Racing. Looking instantly recognizable, the Hertz Penske Mustang GT clearly resembles the iconic Shelby as it features a familiar black and gold paint scheme in the […]

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    If you're planning an Off-Road Adventure into the outback, as a minimum, you’ll need an air compressor. Be sure to read this guide to choose the best off road 12 volt air compressor.