Hertz and Avis Cancel Orders in Setback for Ailing Carmakers
- GM takes back vehicles it had agreed to sell to rental firms
- Fiat shopped list of almost 30,000 cars to other fleet buyers
Customers load a vehicle at a Hertz rental location at Louisville International Airport.
Photographer: Luke Sharrett/BloombergThis article is for subscribers only.
Rental-car companies struggling to survive the coronavirus pandemic’s catastrophic blow to their business have been working with automakers to call off purchases, in some cases even redirecting vehicles in transit to their now largely neglected parking lots.
General Motors Co. is taking back cars it agreed to sell that were on their way to Hertz Global Holdings Inc., Avis Budget Group Inc. and closely held Enterprise Holdings Inc., a spokesman said. Hyundai Motor Co. also confirmed it has redirected some vehicles to its retailers that it was planning to produce for fleet customers.