Transportation
Rental Car Stocks Soar as Tariffs Seen Bolstering Fleet Value
Hertz saw its biggest gain since the company went public in 2021 after emerging from bankruptcy.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
US rental car company stocks soared on Thursday as sweeping new auto tariffs are expected to lead to greater demand for used cars, in turn raising the value of these companies’ fleet of vehicles.
Shares of Hertz Global Holdings Inc. and Avis Budget Group Inc. each surged by more than 20%. Hertz saw its biggest gain since the company went public in 2021 after emerging from bankruptcy, while Avis posted its best day since 2022.