Hertz and Carvana today announced a way for customers to save time and money through online car buying and shopping. The two are partnering nationally – following a pilot in September – to enable Hertz to utilize Carvana’s online transaction technology and logistics network to expand vehicle disposition channels.
The rental car industry – which buys and sells millions of vehicles annually – is an integral part of the used car market. Historically, Hertz has sold vehicles from its rental fleet through auctions, direct-to-dealer programs and its retail network of 68 Hertz Car Sales locations. Using Carvana’s technology and logistics network will allow a more efficient direct-to-consumer sales channel, giving Hertz the opportunity to reduce its reliance on wholesale disposition. The partnership with Carvana is of particular importance to Hertz as the company embarks on an ambitious effort to transform its fleet and the rental car industry.
“Our new partnership with Carvana will help Hertz provide a tech-enabled and scalable channel through the lifecycle of our fleet,” said Mark Fields, Hertz interim CEO. “This is another step toward the new Hertz – combining our brand strength and global fleet expertise with new technology and innovations to chart a dynamic, new course for the future of travel, mobility and the auto industry.”
“Carvana’s technology and infrastructure enable this partnership to bring online car buying experiences to more customers,” said Ernie Garcia, Carvana Founder and CEO. “Our nationwide first-party logistics network allows Hertz to expand its retail reach beyond its physical stores and into over 300 markets across the country.”
Carvana offers its customers an intuitive and convenient online car buying, selling and financing experience. Carvana enables consumers to quickly and easily shop more than 45,000 vehicles, finance, trade in or sell their current vehicle to Carvana, sign contracts and schedule as-soon-as-next-day delivery or pickup at one of Carvana’s patented, automated Car Vending Machines.