Hertz To Sell Used Vehicles Through Amazon
Rental car company Hertz (HTZ) has announced plans to start selling pre-owned or used vehicles online via Amazon (AMZN) Autos.The deal is aimed at bolstering Hertz’s retail operations and boosting profits.Customers will be able to browse thousands of used Hertz vehicles on the Amazon Autos platform, e-sign the paperwork to buy a vehicle, then pick-up their car at a Hertz location.The Amazon deal is being piloted in four U.S. cities — Dallas, Houston, Los Angeles and Seattle. However, Hertz plans to expand the arrangement to its 45 locations nationwide.The partnership gives Hertz, known for its car rentals, more visibility and a potential profit boost from its used car sales.The arrangement also expands Amazon’s nascent automotive business, which it launched in December 2024. Shoppers previously could browse digital showrooms and compare prices on Amazon but not purchase cars directly through the e-commerce company.Also, Amazon Autos initially sold new vehicles on its platform but added used vehicles to its selection of offerings earlier this August. Hertz said it plans to sell used vehicles from brands including Ford (F) and Toyota (TM) via Amazon’s online sales site. Hertz typically sells hundreds of thousands of vehicles per year, in addition to running its car rental business.After entering bankruptcy during the Covid-19 pandemic and dealing with a failed electric vehicle strategy, Hertz is looking to boost sales and profits through a “Back-to-Basics” strategy.HTZ stock is up 10% in premarket trading on news of the Amazon partnership. The company’s share price has declined nearly 80% over the last five years.
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