Hertz sells hundreds of thousands of vehicles per year, in addition to managing its signature car rental activity.
With the kind authorization of Hertz
Hertz Wednesday announced that it would start selling used vehicles on Amazon Autos, a move intended to strengthen the retail operations of the car rental company while it seeks to provide more profits.
Hertz’s shares soar on Wednesday.
As part of the partnership, customers can browse thousands of used Hertz vehicles on Amazon Autos, sign documents, complete their online purchase and take their vehicle in Hertz locations.
Customers who live less than 75 miles from the four initial cities – Dallas, Houston, Los Angeles and Seattle – can start to travel Amazon on Wednesday, and Hertz ultimately plans to extend the arrangement to 45 locations on a national scale.
The partnership gives Hertz, known for its car rentals, more visibility and a potential increase in profits for its automotive sales activity.
It also marks an expansion for Amazon’s emerging automotive automotive activity, which it launched in December thanks to a partnership with Hyundai. Before that, buyers could browse digital exhibition halls and compare prices on Amazon, but do not buy cars directly via the electronic commerce giant.
Amazon Autos added used and used certified vehicles to its selection of offers earlier this month from Los Angeles, after having already sold exclusively new vehicles. Hertz Car Sales is the first Amazon Autos fleet dealer and will offer brand -used vehicles, especially Ford,, Toyota,, Chevrolet And Nissan.
Hertz said that he sells hundreds of thousands of vehicles a year, in addition to managing his signature car rental activity.
“Our goal is to reinvent the shopping experience of cars and meet customers where they are – whether online or in person – with convenience, confidence and scale,” said Jeff Adams, executive vice -president of Hertz because Sales. “Amazon Autos is the ideal partner to help us deliver this, because customers can buy our large inventory of high -quality used cars on the same trusted market where millions of assumptions buy every day.”
The partnership with Amazon Autos aims to expand the digital retail presence of Hertz and make its inventory of used vehicles more accessible to customers. This is part of a wider strategy that Hertz stated earlier this year, led by CEO Gil West, to stimulate his retail activity by increasing his retail footprint, raising awareness of the sales brand of Hertz cars and establishing strategic partnerships.
After going bankrupt during the Pandemic COVID-19 in 2020 and dealing with a strategy of electric vehicles failed shortly after, Hertz presented its recovery plan of the roadmap “back to the base” last year. The emphasis is placed on the management of the fleet, the optimization of income and profitability.
Hertz said that the first quarter of this year had marked its strongest quarter for retail vehicle sales.
During the call of the results of August 7 of the company, West said that Hertz experienced a strong momentum in its Ret2Buy program, which allows customers to bring back a second -hand car for a rental period of three days before committing to buy it. Hertz announced last week that the program should reach more than 100 cities.
– Annie Palmer of CNBC contributed to this report.
