Deals
Hertz Could Sell Inventory to CarMax, AutoNation, Jefferies Says
Vehicles sit parked at a Hertz rental location at Blue Grass Airport in Lexington, Kentucky.
Photographer: Luke Sharrett/BloombergThis article is for subscribers only.
Hertz Global Holdings Inc. could flip its roughly 150,000-car inventory as it looks to stay afloat after filing for bankruptcy last month, according to analysts at Jefferies.
Channel checks suggest used-car firms like CarMax Inc. and AutoNation Inc. could be among those eyeing Hertz in bankruptcy amid a rise in demand for used cars, analysts led by Hamzah Mazari and Bret Jordan wrote in a note to clients. The move could help ease some pressure for Hertz, as a sale of its used-car fleet would shore up some cash concerns and could fetch about $3 billion, the analysts said.