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Hertz Global Holdings, originally known as Rent-a-Car Inc., was founded by Chicago, Illinois native Walter L. Jacobs in 1918. [9] This small car rental operation began with a dozen Model T Ford cars. [10] [11] Within five years, Jacobs' fleet expanded to 600 vehicles—generating annual revenues of approximately US$1 million. [11]
2001 - 130,252 cars in service with 540 locations in the US (includes 162 airport locations) 2003 - 310 company-owned and 513 franchisee locations in the US [11] 2006 - 407 US corporate locations with revenue of US$1,534,000,000 (equivalent to $2,318,472,103 in 2023) [13] [14]
The Dollar Thrifty Automotive Group was separated into two subsidiaries, Thrifty Car Rental and Dollar Rent A Car, under the Hertz Corporation. Each operates with its own sales, marketing, rental fleets, and franchise locations from Hertz's headquarters in Estero, Florida under President and CEO Kathryn V. Marinello.
The LAX Consolidated Rent-A-Car Facility is currently under construction at Los Angeles International Airport. When completed in mid-2024, the US$ 1.5 billion building will be the largest CONRAC in the world at 6,300,000 square feet (590,000 m 2) and will host up to 21,000 rental vehicles.
Hertz also expects to book an about $245 million charge related to depreciation expenses from the proposed EV sale in the fourth quarter of 2023. Rental giant Hertz dumps EVs, including Teslas ...
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