Overview

Hertz Global Holdings, Inc. is an American vehicle-rental company headquartered in Estero, Florida. Its principal business is renting cars, vans and other vehicles through Hertz, Dollar, Thrifty and Firefly. The company serves airport, downtown, leisure, corporate and replacement-rental customers through company-operated and franchised locations across major markets in North America, Europe, Latin America, Africa, Asia, Australia, the Caribbean, the Middle East and New Zealand. The business traces its origins to Rent-a-Car Inc., established by Walter L. Jacobs in 1918 with a small fleet of Ford Model T automobiles. John D. Hertz acquired the operation in 1923 and developed it under the Hertz Drive-Ur-Self System. The brand passed through several corporate owners, including General Motors, The Omnibus Corporation, Radio Corporation of America, UAL Corporation, Ford Motor Company and a private-equity consortium. These ownership changes helped transform a small local rental operation into an international fleet and mobility business. Hertz has historically competed through broad geographic coverage, airport presence, recognizable branding, fleet scale, corporate accounts and technology-enabled reservations and rental processing. Its portfolio expanded materially when Hertz acquired Dollar Thrifty Automotive Group in 2012, adding the Dollar and Thrifty brands. Firefly serves value-oriented customers in selected markets. Hertz has also operated vehicle-leasing, fleet-management and used-vehicle-disposition activities at different points in its history. The company experienced severe financial stress during the COVID-19 pandemic, when travel collapsed, rental demand fell and the value of fleet vehicles weakened. Hertz filed for Chapter 11 bankruptcy protection in May 2020. It exited bankruptcy in July 2021, returned to public trading later that year and resumed expansion with a stated emphasis on fleet electrification. In October 2021 it announced an agreement to purchase 100,000 Tesla vehicles, presenting the move as a major electric-vehicle initiative. Hertz remains a major global rental-car brand, but its history also includes significant legal and operational controversies. The most prominent recent controversy involved allegations that customers were incorrectly reported to police as having stolen rental vehicles, leading to arrests and lawsuits. Hertz announced a settlement in 2022 covering hundreds of pending claims. The company continues to operate in a market affected by travel cycles, fleet financing, used-car prices, vehicle availability, insurance costs, digital distribution and competition from Enterprise Holdings, Avis Budget Group and other mobility providers.

History

Hertz began in 1918, when Walter L. Jacobs established a small automobile-rental operation in Chicago. John D. Hertz acquired the business in 1923 and renamed it Hertz Drive-Ur-Self System. Under Hertz's direction, the company developed a recognizable rental brand, expanded beyond its original fleet and introduced early industry innovations, including a rental-car charge card and one-way rentals. It opened an airport location at Chicago Midway in 1932 and expanded into Canada in 1938 and France in 1950. The brand was sold to General Motors in 1926–1927 and remained associated with GM for decades. John Hertz repurchased it in 1953 through the Omnibus Corporation, which was renamed The Hertz Corporation. Hertz became publicly traded on the New York Stock Exchange in 1954. It expanded into truck leasing and international markets, while a program to reacquire independent franchises helped create a more integrated global network. Ownership changed several times in the second half of the twentieth century. Hertz became a subsidiary of RCA in 1967, was sold to UAL Corporation in 1985, and was acquired by Ford Motor Company through Park Ridge Corporation in 1987. Ford later sold the company in 2005 to a private-equity consortium led by Clayton, Dubilier & Rice, with The Carlyle Group and Merrill Lynch Global Private Equity. Hertz returned to public trading on the New York Stock Exchange in 2006. The company experimented with lower-cost rental formats, including Simply Wheelz, later associated with Advantage Rent a Car. It acquired Dollar Thrifty Automotive Group in 2012, bringing Dollar and Thrifty into the corporate portfolio, and subsequently sold Advantage. Hertz also expanded its relationships in China and other international markets. In 2013 it announced the relocation of its worldwide headquarters from Park Ridge, New Jersey, to Estero, Florida; the new facility was completed in 2015. The COVID-19 pandemic produced an acute liquidity and fleet-financing crisis. With travel demand collapsing and used-vehicle values falling, Hertz filed for Chapter 11 on May 22, 2020. Its stock was delisted from the New York Stock Exchange in October 2020. Hertz emerged from bankruptcy on July 1, 2021, and returned to public trading on the Nasdaq in November 2021 under the HTZ ticker. Post-bankruptcy management emphasized fleet renewal, digital operations and electric vehicles, including the announced Tesla order. The company subsequently faced continuing operational, financial and legal pressures, including customer disputes concerning theft reports and the economics of maintaining electric vehicles in a rental fleet.

2022
Vehicle-theft-reporting settlement
[1]Hertz Global Holdingsen.wikipedia.org
Hertz announced resolution of hundreds of pending customer claims.
2021
Emergence from bankruptcy and EV strategy
[1]Hertz Global Holdingsen.wikipedia.org
Hertz exited Chapter 11 and announced a major Tesla fleet order.
2020
Chapter 11 filing
[1]Hertz Global Holdingsen.wikipedia.org
Hertz filed for bankruptcy protection during the COVID-19 travel collapse.
2015
Florida headquarters completed
[1]Hertz Global Holdingsen.wikipedia.org
Hertz completed the relocation of its worldwide headquarters to Estero, Florida.
2012
Dollar Thrifty acquisition completed
[1]Hertz Global Holdingsen.wikipedia.org
Hertz completed its acquisition of Dollar Thrifty Automotive Group.
2006
Return to public markets
[1]Hertz Global Holdingsen.wikipedia.org
Hertz Global Holdings became publicly traded again on the New York Stock Exchange.
2005
Ford sells Hertz
[1]Hertz Global Holdingsen.wikipedia.org
A private-equity consortium agreed to acquire Hertz from Ford.
2002
Entry into China
[1]Hertz Global Holdingsen.wikipedia.org
Hertz became the first international car-rental company to open in China, according to the cited reference.
1954
Public listing
[1]Hertz Global Holdingsen.wikipedia.org
The Hertz Corporation began trading on the New York Stock Exchange.
1953
Brand repurchased from General Motors
[1]Hertz Global Holdingsen.wikipedia.org
John Hertz repurchased the brand through the Omnibus Corporation.
1932
First airport rental location
[1]Hertz Global Holdingsen.wikipedia.org
Hertz opened a rental location at Chicago Midway Airport.
1923
John D. Hertz acquires the rental business
[1]Hertz Global Holdingsen.wikipedia.org
The operation was acquired and developed as the Hertz Drive-Ur-Self System.
1918
Rent-a-Car Inc. founded
[1]Hertz Global Holdingsen.wikipedia.org
Walter L. Jacobs established the rental operation that later became Hertz.

Products and positioning

A large, internationally recognized rental and mobility platform combining airport reach, multiple price-positioned brands, corporate services and a substantial vehicle fleet.

Car rental
Hertz Rent a Car
The flagship Hertz brand provides short-term vehicle rentals through airport, city and other locations. Its customer base includes leisure travelers, business travelers, replacement-rental users and organizations requiring temporary fleet capacity.
Value-oriented car rental
Dollar Rent A Car
Dollar is a rental brand incorporated into Hertz Global Holdings through the 2012 acquisition of Dollar Thrifty Automotive Group. It is positioned toward price-conscious leisure and everyday rental customers in selected markets.
Value-oriented car rental
Thrifty Car Rental
Thrifty is a major rental brand acquired with Dollar Thrifty Automotive Group. It serves value-sensitive customers through airport and neighborhood locations in the markets where the brand operates.
Low-cost car rental
Firefly Car Rental
Firefly is Hertz's low-cost rental brand, used in selected international markets and aimed at customers seeking basic rental transportation at competitive prices.
Electric vehicle rental · 2021
Electric vehicle rental fleet
Hertz expanded its electric-vehicle offering after bankruptcy and announced a planned purchase of 100,000 Tesla vehicles in 2021. The initiative was presented as a fleet-electrification and consumer-access strategy.

Controversies

2022
Customer vehicle-theft reporting controversy
Numerous customers alleged that Hertz reported vehicles as stolen despite active or disputed rental agreements. Reports described arrests, detention and professional or financial consequences. Court proceedings required disclosure of reporting practices, and Hertz later announced a settlement covering 364 pending claims.
Source
2021
Customers pursue claims against Hertz over stolen-car reports
A lawsuit involving 165 plaintiffs was being heard in bankruptcy court. Customers alleged that Hertz reported their legitimate rental cars stolen, leading to arrests. The claims were filed before Hertz's bankruptcy, according to the article.
Source
2021
Herbert Alford files lawsuit against Hertz over delayed receipt
Herbert Alford filed a lawsuit against Hertz, alleging that the company failed to produce in a timely manner a receipt that could have proved his innocence in a murder case. He is seeking financial compensation.
Source

Marketing campaigns

2021Hertz electric-vehicle fleet initiative
United States
Hertz promoted a large-scale transition toward electric rental vehicles and announced a planned Tesla order, linking the initiative to broader consumer access to electric mobility.
Outcome. The announcement became a central element of Hertz's post-bankruptcy strategy, although the long-term economics and fleet composition evolved afterward.
Source

Brand decisions

2021
Announce 100,000 Tesla vehiclesProduct launch
Background
Post-bankruptcy management identified fleet electrification as a forward-looking growth and sustainability initiative.
Action taken
Hertz announced plans to buy 100,000 Tesla vehicles and make electric rentals more broadly available.
Aftermath
The announcement positioned Hertz as a highly visible participant in electric mobility, while subsequent fleet decisions reflected operational and financial considerations.
Source
2020
File for Chapter 11 bankruptcy protectionOther
Background
The COVID-19 pandemic sharply reduced travel, rental demand, revenue and future bookings while fleet financing remained a major obligation.
Action taken
Hertz filed for Chapter 11 protection on May 22, 2020.
Aftermath
The company exited Chapter 11 on July 1, 2021, and later returned to public trading.
Source
2012
Acquire Dollar Thrifty Automotive GroupM&A
Background
Hertz sought to expand its brand portfolio and geographic scale in the rental market.
Action taken
Hertz agreed to acquire Dollar Thrifty for approximately $2.3 billion, and the transaction was completed in November 2012.
Aftermath
Dollar and Thrifty became part of Hertz Global Holdings, while Advantage was subsequently sold.
Transaction value. Approximately $2.3 billion (2012)
Source

Recent events

2026-10-21
Oro Mobility secures $80 million strategic equity investment[5]Oro Mobility获得8000万美元战略股权投资ai-online.com
Reported: 2026-10-21
Hertz announced that Oro Mobility secured an $80 million strategic equity investment from a consortium of investors, including Cohen Private Ventures and funds or accounts affiliated with Certares Opportunities and Knighthead Capital Management. Hertz will retain majority economic ownership of Oro and support it as a fleet and corporate services partner.
2022-02-15
Hertz and UFODRIVE announce partnership and investment[6]Hertz与UFODRIVE宣布合作及投资prnewswire.com
Reported: 2022-02-15
Hertz announced an investment in UFODRIVE and a partnership to pilot ways to use UFODRIVE's digital platforms for rental and fleet management. Hertz and Certares co-led UFODRIVE's $19 million Series A financing round, alongside Knighthead Capital and existing shareholders.
2021-11-17
Hertz prices $1.5 billion private notes offering[7]Hertz为15亿美元私募票据发行定价prnewswire.com
Reported: 2021-11-17
Hertz Global Holdings announced that its wholly-owned indirect subsidiary, The Hertz Corporation, entered into an agreement to sell $1.5 billion in senior notes in a private offering. The offering was expected to close on or about November 23, 2021, subject to customary closing conditions.
2021-11-10
Customers pursue claims against Hertz over stolen-car reports[3]Customers pursue claims against Hertz over stolen-car reportsautoblog.com
Reported: 2021-11-10
A lawsuit involving 165 plaintiffs was being heard in bankruptcy court. Customers alleged that Hertz reported their legitimate rental cars stolen, leading to arrests; the article says the claims were filed before Hertz's bankruptcy.
2021-10-27
Uber and Hertz announce Tesla rentals for U.S. drivers[8]Uber与Hertz宣布为美国司机提供特斯拉租车服务sg.news.yahoo.com
Reported: 2021-10-27
Uber announced a partnership with Hertz to offer Tesla vehicles as a rental option for Uber ride-hail drivers in the United States. Rentals were planned to begin in four cities on November 1, with the program later expanding nationwide; the companies said they would offer 50,000 vehicles by 2023.
2021-10-27
Hertz and Carvana announce used-car sales partnership[8]Uber与Hertz宣布为美国司机提供特斯拉租车服务sg.news.yahoo.com
Reported: 2021-10-27
Hertz announced a partnership with online used-car dealer Carvana under which Hertz would sell vehicles from its rental fleet directly to consumers through Carvana's sales channels, reducing its reliance on mass auctions.
2021-10-27
Hertz Gold Plus Rewards wins Loyalty360 award[9]Hertz Gold Plus Rewards 获得 Loyalty360 奖项finanznachrichten.de
Reported: 2021-11-02
Hertz Gold Plus Rewards won Platinum in Customer Loyalty Innovation at the 2021 Loyalty360 Awards.
2021-10-16
Hertz files IPO paperwork[10]Hertz 提交 IPO 文件ktvz.com
Reported: 2021-10-16
Hertz filed paperwork with the Securities and Exchange Commission for an initial public offering.
2021-04-29
Uber announces Valet car-rental feature[11]Uber宣布Valet租车功能aninews.in
Reported: 2021-04-29
Uber announced its Valet feature, which lets users book rental vehicles from providers through the Uber app and have them delivered to and picked up from their homes. The service was planned to launch in Washington, D.C., in May.
2021-03-30
Hertz sells substantially all Donlen business assets to Athene[12]赫兹将Donlen业务绝大部分资产出售给Atheneprnewswire.com
Reported: 2021-05-07
Hertz Global sold substantially all assets of its Donlen vehicle leasing and fleet management business to Athene Holding Ltd. on March 30, 2021, for $891 million in cash proceeds, subject to certain adjustments.

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