Hertz partners with Carvana to develop online sales

Car rental company Hertz and online car retailer Carvana are teaming up in an initiative that will allow Hertz to use Carvana’s online transaction technology and logistics network to increase sales.

Carvana’s technology and logistics network gives Hertz the ability to more easily sell direct to consumers from its rental fleet, in addition to auctions, direct dealer offers and the 68 Hertz Car Sales outposts across the states. -United.

“Our new partnership with Carvana will help Hertz provide a technological and scalable channel throughout the lifecycle of our fleet,” said Mark Fields, interim CEO of Hertz, in the joint announcement.

“This is a further step towards the new Hertz – combining the strength of our brand and our global fleet expertise with new technologies and innovations to chart a dynamic new course for the future of travel, mobility and the automotive industry, ”he said.

Carvana has a fleet of over 45,000 vehicles for sale and offers financing, trade-in or sale of customers’ current vehicles to Carvana. Users can also sign contracts and schedule next day delivery or pickup from one of Carvana’s car vending machines.

“Carvana’s technology and infrastructure enables this partnership to deliver online car shopping experiences to more customers,” said Ernie Garcia, Founder and CEO of Carvana, in the joint announcement. “Our leading nationwide logistics network allows Hertz to expand its retail reach beyond its physical stores and into more than 300 markets across the country. “

Related: Carvana in the crosshairs of the government after an increase in complaints

Carvana customers have filed dozens of complaints with local authorities and hundreds more with the Better Business Bureau about incorrect documentation, delays in obtaining documentation for their vehicle, and other issues with the retailer. auto online nine years, according to the Wall Street Journal.

The Better Business Bureau received 899 complaints from Carvana buyers this year through the end of September, more than double the 411 issues reported to the BBB with CarMax. Carvana customers have also filed dozens of complaints with officials in Ohio, Texas, Georgia and North Carolina. The company’s operations are suspended in several states.

Read also : Car rental demand prompts Hertz to try again for IPO

Meanwhile, Hertz emerged from bankruptcy in June under a $ 6 billion deal that gave 42% ownership to Knighthead Capital Management, Certares Opportunities and Apollo Capital Management and filed new documents with the Securities and Exchange Commission (SEC) for a $ 100 million initial public offering. (IPO) on the Nasdaq, according to several reports.

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NEW PYMNTS DATA: 2021 HOLIDAY SHOPPING OUTLOOK

On: It’s almost time for the holiday shopping season, and nearly 90% of US consumers plan to do at least some of their purchases online, up 13% from 2020. The 2021 Holiday Shopping Outlook, PYMNTS surveyed over 3,600 consumers to learn more about what drives online sales this holiday season and the impact of product availability and personalized rewards on merchant preferences.


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David A. Albanese