Hertz and Carvana team up to boost online sales

ESTERO, Florida and PHOENIX, October 27, 2021 / PRNewswire / – Hertz and Carvana today announced a way for customers to save time and money when buying and purchasing a car online. The two are partnering nationally – following a pilot in September – to allow Hertz to use Carvana’s online transaction technology and logistics network to expand vehicle disposition channels.

The car rental industry – which buys and sells millions of vehicles each year – is an integral part of the used car market. Historically, Hertz has sold vehicles from its rental fleet through auctions, direct-to-dealer programs, and its retail network of 68 Hertz car outlets. The use of Carvana’s technology and logistics network will enable a more efficient direct-to-consumer sales channel, giving Hertz the opportunity to reduce its reliance on wholesale. The partnership with Carvana is particularly important to Hertz as the company embarks on an ambitious effort to transform its fleet and the rental car industry.

“Our new partnership with Carvana will help Hertz provide a technological and scalable channel throughout the lifecycle of our fleet,” said Mark fields, Interim CEO of Hertz. “This is a further step towards the new Hertz – combining the strength of our brand and our global fleet expertise with new technologies and innovations to chart a dynamic new course for the future of travel, mobility and the automotive industry. “

“Carvana’s technology and infrastructure allow this partnership to deliver online car shopping experiences to more customers,” said Ernie Garcia, founder and CEO of Carvana. “Our leading nationwide logistics network enables Hertz to expand its retail reach beyond its physical stores and into more than 300 markets across the country.”

Carvana offers its customers an intuitive and convenient online car buying, selling and financing experience. Carvana enables consumers to quickly and easily purchase over 45,000 vehicles, finance, trade in or sell their current vehicle to Carvana, sign contracts and schedule next day delivery or pickup in any one Carvana’s patented and automated car vending machines. Machines.

About Hertz

The Hertz Corporation, a subsidiary of Hertz Global Holdings, Inc., operates the Hertz, Dollar and Thrifty car rental brands throughout North America, Europe, the Caribbean, Latin America, Africa, the Middle East, Asia, Australia and New Zealand. Hertz Corporation is one of the largest car rental companies in the world and the Hertz brand is one of the most recognized in the world. In addition, The Hertz Corporation operates the Firefly car rental brand and Hertz 24/7 carsharing business in international markets and sells vehicles through Hertz Car Sales. For more information on The Hertz Corporation, visit www.hertz.com.

About Carvana (NYSE: CVNA)

Founded in 2012 and based in Phoenix, Carvana’s (NYSE: CVNA) mission is to change the way people buy and sell cars. By removing the traditional dealer infrastructure and replacing it with exceptional technology and customer service, Carvana offers consumers an intuitive and convenient online car buying, selling and financing platform. Carvana.com allows consumers to quickly and easily purchase over 45,000 vehicles, finance, trade in or sell their current vehicle to Carvana, sign contracts, and schedule next day delivery or pickup in the city. one of Carvana’s patented systems, Car Vending Machines. Carvana is a Fortune 500 company, providing overnight delivery to customers in over 300 US markets.

For more information about Carvana, please visit www.carvana.com, or connect with us on Facebook, Instagram, Twitter or the Carvana blog.

Caution Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of federal securities laws. Words such as “expect” and “intend” and similar expressions identify forward-looking statements, which include, but are not limited to, statements relating to the timing of electric vehicle deliveries and the expansion. charging infrastructure and any other statements regarding future expectations, beliefs, plans, goals, events or future performance. We caution you that these statements are not guarantees of future performance and are subject to numerous risks and uncertainties that Hertz may not be able to predict or assess with precision, including those of the risk factors identified by Hertz in its annual reports on Form 10- K for the year ended December 31, 2020, as filed with the Securities and Exchange Commission (the “SEC”), and any updates thereto in subsequent filings with the SEC. We caution you not to place undue reliance on our forward-looking statements, which speak only as of their date, and Hertz makes no commitment to update such information.

SOURCE The Hertz company

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David A. Albanese

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