Hertz Stock Surges 6% on Amazon Autos Partnership
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Hertz shares accelerated to a 6% gain Wednesday, outpacing the S&P 500's 0.2% decline, after announcing a strategic partnership with Amazon Autos. The rental giant's car sales division will now offer its used vehicle inventory through Amazon's platform, featuring models from top manufacturers at prices frequently below Kelley Blue Book value.
Each vehicle undergoes a rigorous 115-point inspection, with buyers able to complete purchases online and collect at nearby Hertz locations. The service launches initially in Dallas, Houston, Los Angeles, and Seattle markets, leveraging Hertz's network of 45 sales outlets nationwide. Market reaction suggests strong approval for this digital distribution channel.
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