02.11.2008

Hertz to increase rates

Hertz Equipment Rental says that it has increased its short term rental rates in the USA and Europe by 10 percent, while longer term rates have been increased by five percent.

The announcement was made by Mark Frissora, chairman and chief executive of Hertz global holdings, the parent company and included increases for global car rental rates.

“Frissora said: “We are committed to our overall strategy, which will align rental revenues more closely with our overall costs. We assessed inflationary trends in key areas, including vehicle maintenance and repairs, depreciation and other fleet-related costs, facility expenses and commodity prices.”

“Additionally, we continue our companywide process, which began in early 2007, to restructure and right-size Hertz to further mitigate the effects of inflation and to operate as the lowest cost, highest quality rental provider in the world.”

In Europe Hertz Equipment operates mainly in Spain and France and has recently opened its first location in China.