Hertz may be sold, Ford chairman says
Fierce competition and financial losses may lead Ford to sell its profitable Hertz unit in-order-to generate a lot of cash to improve the automaker’s balance sheet.
Hertz earned just under $500 million in pretax profit last year.
Ford chairman and chief executive officer Bill Ford acknowledged that the company was exploring selling Hertz outright, selling part of the company or some other new arrangement, reports the Detroit Free Press.
“We can’t share all of our plans with you today,” Ford said to industry analysts on a conference call, “but we can tell you that we have plans and we’ll be rolling out our plans to you as it makes sense over the next several months.”
Hertz and Ford Motor have had a close relationship since Walter L. Jacobs founded a car-rental business in 1918 with a dozen Model T’s. The company later known as Hertz has had a variety of owners over the years, including General Motors Corp.
Charles Kao
Have your say Cancel reply
Subscribe/Login to Travel Mole Newsletter
Travel Mole Newsletter is a subscriber only travel trade news publication. If you are receiving this message, simply enter your email address to sign in or register if you are not. In order to display the B2B travel content that meets your business needs, we need to know who are and what are your business needs. ITR is free to our subscribers.
































Qatar Airways offers flexible payment options for European travellers
Airlines suspend Madagascar services following unrest and army revolt
Phocuswright reveals the world's largest travel markets in volume in 2025
Digital Travel Reporter of the Mirror totally seduced by HotelPlanner AI Travel Agent
Strike action set to cause travel chaos at Brussels airports