Deals
Carl Icahn, the Car Guy: Why He Bets on Hertz, Lyft and Pep Boys
- He also has Federal Mogul, and plans for more such investments
- In 20 years, will all the garages in the U.S. really be empty?
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Carl Icahn rarely takes his Mercedes out for a spin. And he figures many people in the U.S. will eventually treat their vehicles as dismissively as he does, if they bother owning any at all.
That’s part of why the billionaire expects he’ll make a bundle on the offbeat collection of investments he’s assembled, including a raft of auto repair and supply outfits, a small stake in Lyft Inc. and a controlling position in Hertz Global Holdings Inc. “If you look at these businesses as single things, I don’t think they’re that great,” he said in a recent interview. But they’re positioned as a group to cash in on the new car culture. “There’s a secular change happening, which we see as a great opportunity, and it will be good for Icahn Enterprises.”