HERTZ Signs Deals with Uber, Lyft to Supply Cars
Hertz Global Holdings Inc. reached agreements with Uber Technologies Inc. and Lyft Inc., the two largest U.S. ride-hailing start-ups, to supply drivers with vehicles the rental-car company rotates out of its fleet.
Midsize cars for Lyft and Uber drivers will rent for $180 a week, including all mileage and insurance costs, said Hertz spokesman Bill Masterson. A Lyft representative said the company’s drivers get a compact vehicle for $165 a week in Las Vegas and Denver, where it has had a pilot program with Hertz since last year.
The vehicles Hertz will supply to Uber and Lyft are well-maintained and in good condition, Chief Executive Officer John Tague said. Hertz rotates about 200,000 cars out of its fleet each year in the United States, Masterson said.
The Hertz-Lyft deal builds on their pilot program, with an expansion to Los Angeles and San Francisco and more markets expected to follow, the rental-car company said.
“We’re thrilled to be partnering with Hertz to offer a new rental option,” Uber said in an emailed statement, citing discounts from automakers and flexible vehicle financing as other ways the company assists its drivers.
“These options expand drivers’ choices and have helped drivers save over $20 million in car purchases across the globe.”