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The company
behind the car rental, Hertz Global holdings, has
reported their third quarter revenues for 2009 as
being at $2 billion. The figure has dropped by more
than 15 per cent year-on-year on their entire worldwide
holdings.
However, the third quarter on their
own was only down by 11.5 per cent showing there is
some strengthening to their product. As to be expected
their ancillary items such as car seats, satellite
navigation and other extras were also down by 35.2
per cent against the previous year.
Their pre-tax income showed an improvement
compared to last year with a 15. per cent rise to
$195.3 million, last year was set at $169.1 million.
The chairman and CEO, Mark Frissora said the figures
are showing that their cost cutting measures are working
with restructuring the way they work and the slow
but steady increase of rental days has helped with
the financial side later in this year.
Like many car rental firms, Hertz
took action against the worldwide recession that was
affecting the globe and restructured the company.
Branches had to unfortunately be closed down, fleets
were reduced or new cars were not bought. In some
areas of the world this lead to a shortage of cars
during the European summer and many people were left
having to pay-out large sums of money for cars at
different hire firms they would not have used. This
lead to much debate over the period and many complaints
to hire firms throughout Europe. Car rental firms
for next year should be in a much better position
with increasing numbers and great deals to be taken. |
