Hertz launches new car rental system
Jun 5, 2019
Hertz Global Holdings gained more than 8% in the stock market after the company announced a new vehicle-subscription program that will begin in Austin, Texas and Atlanta, Georgia. The new program consists of a monthly subscription service that will grant customers a wide range of vehicles to choose from the two subscription tiers; they will also have the chance to exchange cars for different models twice a month. The service will cost between $999 and $1,399 depending on the package that the customer selects; the initiative comes as an alternative to traditional car ownership, which has lost popularity in urban areas. Hertz shares have gained 12% this year and are 5% up in the last 12 months.