Turnover: 5.3 billion EUR (2020)
Country: United States
Hertz is the world's leading company in terms of sales in the short-term rental sector (second if we include the Avis Budget group). With a fleet of over one million vehicles, 93% of the company's sales are generated by passenger car and light commercial vehicle rentals, the remainder by equipment rentals.
Hertz has some 10,200 branches, including 429 in France. Mainly located in airports and train stations, its subsidiary Hertz France generated sales of 442 million euros in 2018, all activities combined (passenger car and light commercial vehicle rentals, as well as equipment and public works).
Finally, Hertz also offers long-term rental systems with FlexiRent (30-day rental renewable indefinitely) as well as a self-service vehicle rental system with Hertz 24/7.
may 7, 2021 - the crisis affects Hertz dangerously - source(Capital)
- Supply is dwindling, while demand for rental cars is increasingly last-minute
- Hertz to file for bankruptcy in spring 2020
april 28, 2021 - Hertz forced to tighten its belt - source(Ouest France)
- 51% of Hertz rental cars have disappeared from the international market
- 81 million vehicles sold to cope with crisis (25% of worldwide stock)
- Facing a shortage of vehicles as customers begin to return
News
Hertz continues to pay the price for its Tesla gamble 06/08/2024
- - Hertz to order 100,000 Model 3s from Tesla in October 2021.
- - 11% of Hertz's U.S. fleet was electrified, including 80% with Teslas, compared with an average of 2-3% for other rental companies.
- - Repair costs for electric models are on average twice as high.
- - Electric car sales growth of 1.3% in 2023.
Hertz changes boss after disastrous bet on electric cars 17/03/2024
- - Electric vehicle order: 100,000 electric cars to Tesla for $4.2 billion.
- - Hertz announces plans to sell 20,000 electric cars, representing a third of its "clean" fleet.
- - Repair costs for electric vehicles are on average twice as expensive as those for conventionally powered vehicles.
- - Its German counterpart, Sixt, has also expressed its intention to reduce the number of Teslas in its fleet.
United States: Hertz gets rid of its electric cars and switches back to gasoline 12/01/2024
- Hertz plans to sell 20,000 electric cars, or 20% of its "clean" fleet.
- By 2021, Hertz had placed an order with Tesla for 100,000 Model 3s.
- Currently, 11% of Hertz's US fleet is made up of electric vehicles, 80% of which are Tesla.
- Among Hertz's competitors, the proportion of electric vehicles in their fleets is generally between 2% and 3%.
- Repair costs for electric cars are on average twice as high as for internal combustion vehicles.
- Hertz has signed an agreement with General Motors for the purchase of 175,000 electric vehicles, and another agreement for the purchase of 65,000 Polestar models.
Hertz pays dearly for its giant deal with Tesla 20/11/2023
- In October 2021, Hertz ordered 100,000 Model 3s from Tesla
- Currently, around 11% of Hertz's fleet (590,000 cars) are electric cars, 80% of which are Tesla (Model 3 and Model Y).
- Avis and Enterprise's fleet of electric vehicles in the United States does not exceed 1 or 2% today, according to Morgan Stanley.
- The two main risks for Hertz in the coming years are "higher operating costs" and a risk "linked to the residual value" of the cars.
- Repairing an electric car costs "about twice as much" as a traditional car, according to Hertz's CEO.
- Lower prices have reduced the resale value of its cars and increased its depreciation.
Financial Data
DUNS: 377839667
Legal Name: HERTZ FRANCE
Address: 6 AVENUE GUSTAVE EIFFEL BATIMENT A1 IMMEUBLE DIAGONALE SUD, 78180 MONTIGNY-LE-BRETONNEUX
Number of employees: Entre 500 et 999 salariés (2021)
Capital: 153 683 698 EUR
Financial Data:
| Year | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|
| Turnover | 262 176 923 | 185 824 008 | 215 662 325 | 428 805 892 | 422 638 752 | 409 315 340 | 406 160 660 | 396 232 885 |
| Gross margin (€) | 220 894 983 | 148 127 923 | 141 023 444 | 314 266 562 | 322 129 747 | 315 129 500 | 309 245 432 | - |
| EBITDA (€) | 21 981 997 | -29 518 772 | -48 774 453 | -25 485 522 | -15 187 722 | -7 518 645 | -6 773 450 | - |
| Operating profit (€) | 23 101 224 | -32 494 314 | -48 233 846 | -26 686 599 | -25 036 680 | -10 137 587 | -46 492 491 | - |
| Net profit (€) | 18 704 016 | -33 350 988 | -53 667 919 | -26 818 439 | -26 988 635 | -69 536 648 | -58 303 398 | -76 130 660 |
| Turnover growth rate (%) | 41,1 | -13,8 | -49,7 | 1,5 | 3,3 | 0,8 | 2,5 | - |
| Ebitda margin rate (%) | 8,4 | -15,9 | -22,6 | -5,9 | -3,6 | -1,8 | -1,7 | - |
| Operating margin rate (%) | 8,8 | -17,5 | -22,4 | -6,2 | -5,9 | -2,5 | -11,4 | - |
| Working Capital (turnover days) | -67,1 | -135,1 | -63,1 | 16,3 | 41,4 | -161,8 | 95,6 | - |
| Working Capital requirements (turnover days) | -4,8 | -9,8 | -15,5 | -1,6 | 0,1 | 5,2 | 1,4 | - |
| Net margin (%) | 7,1 | -17,9 | -24,9 | -6,3 | -6,4 | -17 | -14,4 | - |
| Added value / Turnover (%) | 35,9 | 10,6 | 6,9 | 17,1 | 21,7 | 23,4 | 23,2 | - |
| Wages and social charges (€) | 48 387 945 | 38 374 407 | 38 772 808 | 62 669 382 | 64 447 111 | 62 564 368 | 60 787 226 | - |
| Salaries / Turnover (%) | 18,5 | 20,7 | 18 | 14,6 | 15,2 | 15,3 | 15 | - |
Company Managers:
| Position | First Name | Last Name | Age | |
|---|---|---|---|---|
| Président | Louis, Alexandre | DE Navailles-labatut | 49 | |
| Président | Rafael, Antonio | Girona Tome | 62 | |
| Président | Jeffrey | Adams | 53 |
Studies mentioning this company
The car rental market - France
Other companies mentioned:
- Europcar
- Hertz
- Avis Budget Group
- Sixt
- Ouicar
- Citiz
- Ubeeqo
- Enterprise holdings
- Ucar
- DriiveMe
- Drivalia
- Virtuo
- Getaround (Ex drivy)
- Rent a Car
- Hitech Software
The car rental market - Portugal
Other companies mentioned:
- Europcar
- Hertz
- Avis Budget Group
- Sixt
- Ouicar
The car rental market - Italy
Other companies mentioned:
- Hertz
- Sicily by Car
- Sifà- Società italiana flotte aziendali
- Leaseplan Italia
- Leasys S.p.A.
- ARVAL SERVICE LEASE ITALIA S.P.A.
- Avis Italia
- Unipol Rental
- Europcar