Hertz profits boost despite drop in US used-car prices

Hertz said its cars depreciated just $26 a month in the last quarter of 2021, reflecting unusually high demand and prices for used vehicles

Hertz earnings surpassed analysts’ consensus estimates as lower used-car prices helped pull down profits, which declined 45% from the year-earlier period.

Hertz Global is seeing a rebound in corporate and leisure travel toward pre-pandemic levels, even as profits have been pinched by lower used-car prices.

Hertz earnings surpassed analysts’ consensus estimates as lower used-car prices helped pull down profits, which declined 45% from the year-earlier period.