Hertz 2009 Annual Report Download - page 9

Total Mobility Solutions…
Hertz has developed hourly car
sharing and multi-month rentals to
compliment our daily and weekly
rental business. With the addition
of Advantage Rent A Car and
rental programs serving younger
drivers, Hertz is providing total
mobility solutions to the broadest
range of car rental customers in
the industry. Today, customers over 21 in certain
markets can rent a vehicle for as little as one hour up to one year and
beyond. With a rental eet ranging from compact through luxury cars,
and SUVs, superior service and a variety of pricing points, Hertz is
providing more car rental options and exibility than any company in
the industry.
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The U.S. airport and off-airport car rental markets
are estimated to generate annual revenues of $10
billion each. Hertz is the leading brand on-airport
with over a quarter of the market share. Over the
past ve years, the Company has rapidly gained
market share off-airport, with 11% share estimated
at the end of 2009. Despite economic conditions,
Hertz opened 109 new U.S. off-airport locations last
year, bringing our total to 1,700. Hertz is poised to
capture a greater stake over the next few years.
Many consumers access the off-airport car
rental market after a car accident or breakdown.
The insurance replacement and repair market
is signicant for Hertz which has provider
relationships with 189 of the top 205 U.S. auto
insurers, as well as major body/repair shops across
the nation. We are particularly proud to have a
preferred vendor agreement with CARSTAR,
the largest multi-shop, collision repair franchise
(257 shops) in the U.S. Additionally, the off-airport
market serves vacationers whose primary vehicle
isn’t suitable for a holiday or special trip, business
people who choose to drive rather than y to
meetings, and ex-pats or relocated business people
who need extended car rentals. In fact our multi-
month leasing program expanded by over 14%
last year, and is expected to be a growth segment
throughout 2010 and beyond.
Hertz has the most diverse eet in the car rental
industry, enabling us to serve all customer segments,
meeting the needs of vacationers, business people
and local residents whose car is being serviced or
repaired. We will expand our off-airport network
again in 2010, which are included in our plans to
open an additional 150 new locations.
Off-Airport Car Rental:
Our Most Advanced Revenue
Diversication Initiative
Hertz has created a $1 billion business by providing the
best service at competitive prices in the U.S. off-airport market.