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Hertz files bankruptcy

P

purkey

Heisman
Feb 5, 2003
195,480
20,699
113
surprising. That's a huge deal. Makes you wonder how many more are hanging on to the last thread. I've been told that Enterprise pays cash for everything so they'll be fine.
 
R

Renegade Bullet

Senior
May 29, 2001
40,500
631
0
Enterprise is privately held but still has debt. They have had massive furloughs and layoffs. They will be okay but they took a big hit obviously
 
F

FMPoke

Heisman
Jan 12, 2002
65,191
17,891
113
Another blow for O.J.

Seriously this is a classic case of a historically dominate company that didn't keep up with the times and got eaten alive by younger competition. Hertz was built on servicing the premium corporate business and didn't adapt to the times. Their market share dropped from over 50% in their heyday to under 15% in the last available data (2017) I found online.

I can't tell you the last time I rented from Hertz. I can tell every time I went to book a rental in the past 20 years they were not price competitive. Without exception one of if not the highest rates. Enterprise offered better prices and better service.
 
T

tcpoke

Heisman
Oct 21, 2004
22,045
25,166
81
FMPoke said:
Another blow for O.J.

Seriously this is a classic case of a historically dominate company that didn't keep up with the times and got eaten alive by younger competition. Hertz was built on servicing the premium corporate business and didn't adapt to the times. Their market share dropped from over 50% in their heyday to under 15% in the last available data (2017) I found online.

I can't tell you the last time I rented from Hertz. I can tell every time I went to book a rental in the past 20 years they were not price competitive. Without exception one of if not the highest rates. Enterprise offered better prices and better service.
Click to expand...

Seems like over the last 15 years or so Hertz really started to put their focus into commercial equipment and vehicle rentals. They spun that business off into its own entity two years ago and I believe it’s doing very well.
 
P

purkey

Heisman
Feb 5, 2003
195,480
20,699
113
Hertz tried to copy enterprise with the local offices off airport and failed. They haven't been competitive price wise for a while. I'm wondering how many employees are still working there...it used to be a great job.
 
A$$hole Consulting

A$$hole Consulting

Heisman
Jun 11, 2001
25,668
30,022
68
purkey said:
Hertz tried to copy enterprise with the local offices off airport and failed. They haven't been competitive price wise for a while. I'm wondering how many employees are still working there...it used to be a great job.
Click to expand...
Was 38k. 12k recently let go. 4K furloughed.
 
O

OSUIvan

All-Conference
Dec 10, 2002
9,119
2,112
113
tcpoke said:
Seems like over the last 15 years or so Hertz really started to put their focus into commercial equipment and vehicle rentals. They spun that business off into its own entity two years ago and I believe it’s doing very well.
Click to expand...

Amazon rents lots of Hertz vans in the Tulsa area for deliveries.
 
lovethempokes

lovethempokes

All-Conference
Oct 9, 2006
897
2,137
63
Enterprise just buys the base model cars. Hertz and others bought the bells and whistle cars so they could sell them back to the manufacturer. Enterprise has their own used car selling unit in place. I know Alamo/National had a issue with some of the customers complaining after Enterprise bought them that the cars weren’t as nice. That’s how they saved money. To this day I still don’t understand how Enterprise’s model worked as they are the most decentralized company I’ve ever seen.
 
R

Renegade Bullet

Senior
May 29, 2001
40,500
631
0
lovethempokes said:
Enterprise just buys the base model cars. Hertz and others bought the bells and whistle cars so they could sell them back to the manufacturer. Enterprise has their own used car selling unit in place. I know Alamo/National had a issue with some of the customers complaining after Enterprise bought them that the cars weren’t as nice. That’s how they saved money. To this day I still don’t understand how Enterprise’s model worked as they are the most decentralized company I’ve ever seen.
Click to expand...

This was the case a LONG time ago. It hasn’t been the case in probably 10-15 years. Enterprise sometimes gets cars with all the bells and whistles. Sometimes they don’t. It’s really a mixed bag.

Also, not all of the cars that Enterprise sells were rentals or leases...
 
P

purkey

Heisman
Feb 5, 2003
195,480
20,699
113
Renegade Bullet said:
This was the case a LONG time ago. It hasn’t been the case in probably 10-15 years. Enterprise sometimes gets cars with all the bells and whistles. Sometimes they don’t. It’s really a mixed bag.

Also, not all of the cars that Enterprise sells were rentals or leases...
Click to expand...
I agree...I'm a heavy renter for the most part and Enterprise cars have just as many bells and whistles as the rest...especially if you get the premium cars. And the pricing at Enterprise is substantially less than anyone else. Throw in you don't have to drive out to the airport and it's not fair competition. One of the features I have grown to like is the adaptive cruise...it's something I'd want on my own car.
 
O

OSUIvan

All-Conference
Dec 10, 2002
9,119
2,112
113
purkey said:
I agree...I'm a heavy renter for the most part and Enterprise cars have just as many bells and whistles as the rest...especially if you get the premium cars. And the pricing at Enterprise is substantially less than anyone else. Throw in you don't have to drive out to the airport and it's not fair competition. One of the features I have grown to like is the adaptive cruise...it's something I'd want on my own car.
Click to expand...

higher end cars base package has a lot of bells and whistles now days.
 
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J

JonnyVito

Heisman
Mar 12, 2008
24,405
10,422
0
purkey said:
I agree...I'm a heavy renter for the most part and Enterprise cars have just as many bells and whistles as the rest...especially if you get the premium cars. And the pricing at Enterprise is substantially less than anyone else. Throw in you don't have to drive out to the airport and it's not fair competition. One of the features I have grown to like is the adaptive cruise...it's something I'd want on my own car.
Click to expand...
I both love and hate the adaptive cruise on my wife’s car. I do find if I am talking to her and get behind a slow car I forget it will slow the car down.
 
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