Hertz CEO: We're Buying Cars...Lots of Cars
Jun 25, 2009, 9:35 am
#1
Original Poster
Join Date: Mar 2006
Location: MOB / PNS / GPT
Programs: DL Gold Hopefully be DL nothing in 1 more year / Hertz Something / Hilton Honors Diamond
Posts: 838
Jun 25, 2009, 4:38 pm
#3
Join Date: Jun 2007
Posts: 1,090
Yeah, yeah, yeah...everything is just peachy when he's in front of reporters but in e-mails to employees it is the most difficult time in history. This guy had the audacity to send an e-mail saying how everyone was taking a 5-10% paycut a week after he took a stock award worth millions. Hmm...I wonder why employee surveys aren't very good.
Jul 12, 2009, 4:41 pm
#4
Join Date: Dec 2004
Location: BLI
Programs: Alaska Million Mile Flyer, Marriott Lifetime Titanium Elite
Posts: 3,194
I was at BOS this past week and saw brand-new cars being unloaded from a vehicle transport.
My own car was a Toyota Camry with 524 miles (or so) on it.
That was a great improvement from many previous Logan rentals. So this is good news.
My own car was a Toyota Camry with 524 miles (or so) on it.
That was a great improvement from many previous Logan rentals. So this is good news.
Jul 13, 2009, 12:43 am
#5
Join Date: May 2006
Programs: Hertz PC, QF Plat, Velocity Gold, HHonors Gold, SPG Gold
Posts: 2,803
Yes and they buy lots of cars each and every year.
What would be more interesting to know is:
What is the projected average fleet age for the end of this year
When will these cars be delivered
etc etc
Facts are always better than big talk
What would be more interesting to know is:
What is the projected average fleet age for the end of this year
When will these cars be delivered
etc etc
Facts are always better than big talk
Jul 13, 2009, 9:25 am
#6
Join Date: Sep 2005
Posts: 485
Many of my Hertz rentals in the past 4 months have featured cars that none were fewer than 20k miles on it. One rental two weeks ago in OKC was just a hair under 40k miles.
My last two rentals with Hertz I've had new cars. One in PHX last week had 35 miles on it. Another one in MSY also last week only had 1200 miles on it. I rented from Avis this past weekend as DEN and their car had 480 miles on it. I'm seeing a lot of temp tags in the rear windows of a lot of rental car lots in the past couple of weeks.
I wonder if the major car manufacturers is selling excess inventory to the car rental companies and a substantially reduced price?
My last two rentals with Hertz I've had new cars. One in PHX last week had 35 miles on it. Another one in MSY also last week only had 1200 miles on it. I rented from Avis this past weekend as DEN and their car had 480 miles on it. I'm seeing a lot of temp tags in the rear windows of a lot of rental car lots in the past couple of weeks.
I wonder if the major car manufacturers is selling excess inventory to the car rental companies and a substantially reduced price?
Last edited by Brick; Jul 13, 2009 at 3:03 pm Reason: Corrected typo
Jul 13, 2009, 12:59 pm
#7
Original Member and FlyerTalk Evangelist
Join Date: May 1998
Location: Kansas City, MO, USA
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Posts: 16,579
The Alamo/National lot in DEN was a sea of temp tags when I was there last week.
Jul 13, 2009, 6:16 pm
#8
Join Date: May 2006
Programs: Hertz PC, QF Plat, Velocity Gold, HHonors Gold, SPG Gold
Posts: 2,803
Jul 13, 2009, 7:14 pm
#9
Join Date: Jun 2007
Posts: 1,090
The incentives have been out there for months. Buying cars at cheap prices is only half the battle...you still need to sell the cars you already have. Used car values were so low that you would have lost a fortune on each unit and that is also why there are so many high mileage cars out there right now.
You don't see too many people getting high mileage Priuses. The Priuses sold very well, especially when gas was at $4...not exactly the same story for an Explorer.
You don't see too many people getting high mileage Priuses. The Priuses sold very well, especially when gas was at $4...not exactly the same story for an Explorer.
