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The declining residual value of its car fleet also cost Hertz a $1 billion non-cash impairment charge during the period. Although Hertz stock tumbled early, it stabilized mid-day, trading roughly ...
A failed bet on Tesla But before Tesla was a thorn in Hertz’s side, it was actually its saving grace. The pandemic gutted the tourism and travel industries in early 2020, launching Hertz into ...
The company also recorded a $1 billion impairment charge in the quarter due to a decline in its fleet residual values. ... It wasn't fully clear why Hertz shares recovered and jumped into positive ...
Hertz said last month it would take a $245 million charge from the sale of those cars due to high depreciation costs, in addition to higher costs for repairs for EVs, which dragged on the bottom line.
The rental car giant's shares are reliving a bit of their 2021 glory today. But recent troubles don't inspire confidence in the rally.
Hertz Global Holdings, Inc. (formerly The Hertz Corporation), known as Hertz, is an American car rental company based in Estero, Florida. The company operates its namesake Hertz brand, along with the brands Dollar Rent A Car , Firefly Car Rental and Thrifty Car Rental .
Hertz, which has made a big push into electric vehicles in recent years, has decided its time to cut back. The company will sell off 20,000 electric vehicles and use the money they bring to ...
Hertz filed for bankruptcy protection Friday, unable to withstand the coronavirus pandemic that has crippled global travel and with it, the heavily indebted 102-year-old car rental company’s ...