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Ford and Hertz Agree to Extend Deal

July 19, 2005

DETROIT — Hertz Corp. has agreed to continue buying and promoting Ford Motor Co. vehicles through 2010, even if Ford sells off the Hertz rental car unit as planned, according to a new agreement between the companies, reported the Associated Press. Under the deal, Ford promises to pay half of Hertz’s advertising costs each year from 2005 through 2010. In exchange, Hertz has agreed to buy a certain number of Ford, Lincoln, and Mercury brand vehicles, according to documents filed this week with the U.S. Securities and Exchange Commission. The filing didn’t say how many vehicles are involved in the deal. In a previous filing, Hertz said approximately 41 percent of the vehicles it acquired domestically in 2004 were made by Ford and its subsidiaries. Ford and Hertz signed a similar agreement in 2004 that was set to expire Aug. 31, 2007. The new agreement expires Aug. 31, 2010, according to the Associated Press.
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