Word: hertz
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BIGGEST CAR DEAL in history will be closed by Hertz Corp. and local affiliates. For $33 million, nation's biggest auto rental outfit will buy 15,600 new 1957 models, 75% of them sedans (Chevrolets, Fords, Plymouths, Oldsmobiles, Buicks, Cadillacs), the rest convertibles, sports cars (probably Thunderbirds) and station wagons...
DRIV-UR-SELF MERGER will push Hertz Corp., already dominant in its field (1955 revenues: $39.1 million), into 25% expansion. Hertz is acquiring property of New England's big (5,400 cars and trucks, $10 million annual revenue) Avis Rent-a-Car System from Boston's Richard S. Robie (TIME, March...
Still far in front of the field is Hertz Corp., with a fleet of some 33,000 company-owned or franchised vehicles operating out of 717 cities in 22 countries. Hertz's leading competitor is Avis Rent-A-Car System, with roughly 15,000 cars and trucks. But business is so good that neither is worried by Greyhound's entry into the field. Says Avis' President Richard S. Robie: "We've only scratched the surface of this business. The potential is tremendous. The only competition we have is from the man who drives...
...Diners' Club. That competition has been steadily weakening ever since a Chicago auto salesman named Walter L. Jacobs started his car rental business with twelve model T Fords in 1918. He built the fleet to 565 cars in five years, then sold out to Taxicab Manufacturer John Hertz. Jacobs stayed on in the company, eventually rising to president, and has convinced millions of travelers that it makes sense to rent...
...push the idea still further, the renters have invented a dozen new schemes. Hertz, which has 227 rental facilities at airports, recently made the same deal with 17 major U.S. and Canadian railroads. The company has also made an agreement with the Diners' Club to charge car rentals. And to accommodate overseas travelers, Hertz last week set up an international division that will handle reservations, obtain international drivers' permits and border-crossing documents for customers...