The Car and Truck Fleet and Leasing Management Magazine

Ford Considers Selling Hertz

April 21, 2005

DEARBORN, Mich. -– During a conference call to announce first-quarter financial results, Ford Motor Co. Chairman and CEO Bill Ford suggested the company is considering selling Hertz Corp.

"The market is pretty buoyant right now, Hertz is doing well, and it's probably the right time to take a look at it," Ford said in response to a question from a Merrill Lynch analyst.

Ford called Hertz "a great company," but also acknowledged that car rental is outside of Ford's core business in the long term.

The question about Hertz was raised by an earlier statement from Don Leclair, Ford's chief financial officer.

"We have to ensure that we have the right capital structure to support our business. In that regard, Hertz is a great, well-managed business," Leclair said. "As a result of their strong performance and our continued de-emphasis of selling vehicles to the daily rental companies, we are beginning to evaluate long-term strategic objectives for Hertz."

Hertz became a wholly owned subsidiary of Ford in March 2001, after Ford reacquired the outstanding 18.5% of Hertz's stock.

Twitter Facebook Google+

Comments

Please note that comments may be moderated. 
Leave this field empty:
 
 

Fleet Incentives

Determine the actual cost of owning and running a vehicle in your fleet. Compare vehicles by class and model.

FleetFAQ

Fleet Tracking And Telematics

Todd Ewing from Fleetmatics will answer your questions and challenges

View All

 

Fleet Management And Leasing

Merchants Experts will answer your questions and challenges

View All

 

Sponsored by

Terminology used in some European countries to identify fleet services provided on a fee basis, for example, the management of maintenance and authorizations for repairs and tires. Other services might include the buying of new vehicles for the customer’s account and the selling of used ones on the customer’s behalf.

Read more

Up Next

More From The World's Largest Fleet Publisher