[UPDATE, Jan. 11, 2024: Hertz Global Holdings will sell about 20,000 electric vehicles from its U.S. fleet, representing about one-third of its worldwide EV inventory. The disposition will affect multiple makes and models. Hertz will reinvest a portion of the funds from the sales into buying internal combustion engine vehicles “to meet customer demand.” The…
Negotiating a discount off floating market rates is the prevailing model in airline corporate deals and a component of corporate hotel agreements. Is car rental the next sector to take this plunge with its medium-sized and larger accounts? There’s talk, but most observers don’t see that happening in the near term. “Hertz has always maintained…
As fuel costs increase, travel buyers may want to revisit and refresh their car rental policies, negotiations and traveler communications. Corporate travel policies typically recommend or require travelers to fill up before dropping off rentals. When car rental companies do the refueling, the rate may be as much as a few dollars more per gallon,…
Hertz emerged last year from bankruptcy as a leaner company with a new outlook on corporate sales. It used reorganization to get out of what it deemed unfavorable corporate deals and now, according to interim CEO Mark Fields, “We do not chase unprofitable business.” That’s easier to justify when there is tight supply relative to…
Some companies’ biggest travel management headaches these days are coming from one of the smaller-spend categories — ground transportation, particularly car rental. Renters face tight availability, poor vehicle condition and rising rates. Avis Budget Group and Hertz reported record earnings for the quarter ended Sept. 30. They cited strengthening demand, cost reductions realized during the…
Travelers taking advantage of rates negotiated by companies they don’t work for is one of the oldest tricks in the book. With car rental rates rising amid recovering demand and limited inventory, Avis Budget is telling customers they must prove they are entitled to discounted rates by producing verification of their employer. Small businesses must…
A settlement between Avis Budget Group and the U.S. government regarding allegations that the car rental company overcharged the world’s largest business travel spender holds some lessons for corporate buyers and program managers. The biggest is to remain vigilant, but that’s often easier said than done. On Thursday, the U.S. Department of Justice said Avis…
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