Fleet News

'Structural changes will see Hertz move into top three'

May 2000: HERTZ Lease claims that major structural changes at the company will unlock the potential of the Hertz brand and see the international leasing firm become a top-three player in Europe.

Earlier this year Hertz Corporation, owner of the international car hire company, reached an agreement with Ford Credit, owner of Hertz Lease (formerly Axus). This saw Hertz Corporation take over management responsibility for Hertz Lease, and license the leasing company to use the Hertz brand name - but Ford Credit still owns Hertz Lease.

'There is a very clear message that Hertz Lease needs to be a top three player in each market,' said Stephen Barrett, divisional vice-president and general manager of Hertz Lease.

He said Hertz would prove a more valuable brand than Axus, and identified back office synergies between the short and long term rental companies.

'From the buying of new vehicles to the disposal of used vehicles, both the Hertz rental and leasing operations do similar things, but over different time scales,' said Barrett.

Hertz rental and leasing organisations will retain separate sales forces in corporate markets, although franchisees in smaller countries may sell both rental and leasing products.

Across Europe, Hertz Lease has 10 sales people focused on international business - based in each of Hertz's corporately-owned markets, and reporting to its European headquarters in Northampton, UK.

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