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Avis Soars After Hertz Increases Prices for Summer Travelers

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Hertz Global Holdings Inc. and Avis Budget Group Inc. rose after Hertz said it’s raising prices by as much as $5 a day in June in expectation of a busy summer travel season.

Hertz is raising prices $20 a week at airports and $10 a week in its neighborhood locations, starting June 14, because it expects “strong seasonal demand,” the company said in a statement. Hertz has been winnowing and improving its fleet and has increased by 47 percent the number of vehicles with 30,000 miles or less. Hertz said it will buy fewer 2015 vehicles and sell more of the cars and SUVs in its fleet.