Hertz Increases Rental Rates in Australia

Hertz has increased vehicle rental rates throughout Australia by an average A$5 per day or A$30 per week, effective immediately.

The rise does not apply to corporate or group rates which have already been contracted.

Hertz blamed the rate increase has been made necessary by higher vehicle depreciation and maintenance costs, a significant fall in used vehicle resale values and a decline in rental revenue. 

“This economic climate is unprecedented, and is impacting both our rental and car sales businesses,” said Wayne Burgoyne, Director Sales and Marketing, Hertz Australia.

“We have been cutting costs throughout our global network, reducing expenses by more than US$500 million over the past two years,” Mr Burgoyne added. “But this is no longer enough. With costs continuing to rise and demand falling, our rental pricing in this market could not be sustained.”

In addition to increasing rental rates across the board, Hertz said it will continue to explore options to further reduce operating costs in order to remain competitive in the Australian market.

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