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The rental-car business isn't dead and working with ride-hailing companies will actually offset any market share lost to them, the CEO of Hertz says.
Carl Icahn imagines the next two decades or so of transportation the way a lot of experts do: Americans will ditch personal cars. He sees the migration playing into his hands.
The immediate challenge is a declining new-vehicle market. Long term, the companies face disruptions to their business model from sharing services and autonomous technology.
Apple is leasing a small fleet of cars from Hertz to test self-driving technology, an agreement that echoes a larger deal between competitors Waymo and Avis.
By selling still-fewer vehicles to Enterprise and Hertz, GM hopes to boost residual values and improve the economics of its leasing business.
As investor concern spreads about the plunging prices of used cars in the U.S., one company and its top investor are enduring the biggest beating: Hertz and Carl Icahn.
Hertz hopes to turn around its fortunes by adding more midsize and large vehicles to its fleet in the first half of the year. It also may be unloading more of its smaller cars.
Hertz supplying Apple's autonomous test cars; GM lowers '17 sales outlook; Aston scales back plan for RapidE EV; Elon Musk takes 'Boring' idea to Chicago; Gold rush for suppliers?
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