Hertz Ordered to Release Records on Alleged Rental-Car Thefts

Hertz customers have issued complaints that the company falsely accused them of stealing rental cars. Numerous renters have made claims that they were stopped by police to be informed that the vehicle they had paid to borrow was reported stolen. Complaints became so prevalent that CBS News launched an investigative report last November to uncover whether individuals were simply lying about their innocence to avoid prosecution or if Hertz was habitually screwing things up.

By December, 191 claims had been filed in federal bankruptcy court on behalf of the people who said they were falsely arrested. But it took another two months for a Delaware bankruptcy court judge to issue a ruling that will require Hertz to make the number of renters it accuses of stealing its cars every year publicly available.

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Good Luck Getting Rental Cars This Summer

As you might have noticed, or heard from us, rental agencies have been hoovering up new and used vehicles to offset the 2020 selloff that stemmed from everyone mysteriously canceling their travel plans that year. Returning to normal, which is something anyone who didn’t assume the world was ending could have predicted, has resulted in increased pricing for vehicles — regardless of whether you’re renting or buying.

Rental companies typically try to play the vehicle market like the rest of use stocks or (if you’re hip) crypto. Buy low, sell high. But 2021 has created a perfect storm of increased demand coming after a long stretch of nothing and an auto industry that doesn’t seem to be capable of building cars thanks to all sorts of component shortages. But it’s no sweat for the big rental agencies because they’re now able to charge just about whatever they want. They’re keeping vehicles in their fleets longer, making more money off them, and selling them back at elevated prices.

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Rental Car Companies Reeling From Uptick in Travelers

Rental car companies are their own worst enemies, having sold off much of their fleets during the pandemic’s height. With travel restrictions easing in many places they find themselves with no inventory.

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The Great Car Rental Revival of 2020

Rental-car agencies, shunned by a population that didn’t know whether it was safe to go outside for most of the year, have reportedly started to turn things around. While the recovery didn’t come soon enough to save Hertz from having to declare bankruptcy, the summer months were much kinder to the industry as a whole. Despite the likelihood of 2020 remaining an unprofitable year, the final two quarters should help rental groups recoup some of the sustained losses.

A recent assessment conducted by the Wall Street Journal suggested that the industry is benefiting from a population that continues to shun air travel during the pandemic and elevated used vehicle pricing. While discount prices actually hampered Hertz right when it needed a miracle, secondhand auto rates surged through the latter half of the summer and helped stabilize the rest of the vehicle rental industry.

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Jack Taylor, Founder of Enterprise, Dies at 94

Jack Taylor has parked his car in the Emerald Aisle for the last time.

The man who built a rental-car company on top of a leasing business, birthed from a side office in a St. Louis Cadillac dealership, has died at the age of 94.

Enterprise Rent-a-Car grew in an unconventional way compared to its competitors, which focused mainly on airports. Mr. Taylor’s company instead leveraged home-town business with downtown locations to offer vehicles for purposes other than out-of-town travel.

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  • Corey Lewis Terribly unsafe in a crash. Almost to the point where I can't believe they sold them here.
  • Johnster My understanding is that the Mark VI Coupe was built on the shorter 114" wheelbase shared with the Panther-based LTD and Marquis, while the Mark VI sedan was built on the longer 119" wheelbase used by both the Continental Coupe and Sedan, and that the Mark VI Coupe was then slightly shorter and smaller than the Continental Coupe.
  • Varezhka Ugh, had one as a rental and no wonder they disappeared quickly.Now they still have the current gen. Quest as a Nissan Elgrand in the home market, but even in the minivan heaven that is Japan (where minivan has a 20% marketshare as a bodystyle) they only sell 2~3000 units annually.
  • Fred Look at me! I drive a weird truck thing made by a guy who is losing money running Twitter.
  • Fred The mid-engine Vette hasn't been as successful as the previous race car. They did just come in 2nd at Daytona 24hrs but I'm not sure it's enough for buyers to line up.