According to a Bloomberg.com article, Hertz Global Holdings Inc.’s chief executive officer said, the rental-car business isn’t dead and working with ride-hailing companies will actually offset any market share lost to them.
“We don’t see ride-hailing as an enemy,” Chief Executive Officer Kathy Marinello said on a conference call with analysts Friday. “It is profitable for us and I see it being a growth area for the next several years.”
Hertz already makes money providing older cars in its fleet to drivers working for ride-hailing services like Uber Technologies Inc. and Lyft Inc., Marinello said. It has also been opening new locations catering specifically to ride-share drivers and partnering with auto-repair shop Pep Boys to inspect, certify and repair their vehicles. Pep Boys, Lyft and Hertz share an investor in billionaire activist Carl Icahn.
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