Hertz To Dump Almost 200,000 Vehicles On To The Used Car Market

The Hertz bankruptcy saga is still ongoing. Not only does the company have to pay lenders $650 million to remain afloat, it now has until the end of the year to sell off nearly 200,000 vehicles. How this will impact the used car market going forward isn’t so clear.

Hertz will be required to “...dispose of at least 182,521 lease vehicles between June 1, 2020 and December 31, 2020,” as Carscoops reports citing a filing with the Securities and Exchange Commission. That is a lot of used cars. As to whether or not this inventory dump will cause a price drop in the used car market is another story and will depend on a variety of factors.

Car4life1 - 7/30/2020 9:57:25 AM

+2 Boost

That’s a lot of Nissans & Chryslers....

MDarringer - 7/30/2020 10:13:59 AM

-1 Boost

If they can dump them literally right now, they will sell. Not only are new cars severely depleted, the CPO cars are as picked over. We put undesirables like Nissans and Chryslers out on out mom-and-pops-appearing used car lots.

mre30 - 7/30/2020 11:53:55 AM

-1 Boost

Agree - this is an excellent time to dump a whole bunch of value priced, mainstream vehicles on the used car market. The US is a big country, they will be absorbed without cratering the use car market very much at all.

skytop - 8/3/2020 7:09:01 AM

+1 Boost

They mean 200,000 boring, banal and uninteresting cars.

MDarringer - 8/3/2020 9:32:38 AM

+1 Boost

You do realize that there are people of average means in the world don't you, Mr. Snob?