As ride-hailing companies like Uber and Lyft hurt rental car businesses, it has emerged that Hertz has inked a deal with Shift to help sell its used cars.
Hertz’s new partner, Shift, is a San Francisco start-up that easily connects buyers and sellers of used vehicles. Through this deal, Hertz will be able to sell its used rental vehicles directly to customers rather than offloading them at lower prices during auctions.
Shift’s services go far beyond simply providing an online outlet for people to sell vehicles. Instead, someone looking to sell a vehicle contacts Shift who will send out an agent to inspect the car. It will then be purchased by Shift, fixed if necessary and then listed for sale online.
According to Jeff Adams, Hertz vice president of vehicle remarketing, “We like Shift’s tech-centric customer base, which will further widen our sales channels and bring Hertz Car Sales exposure to new audiences.”
The Los Angeles Times reports that ride-hailing services have become so popular that in late 2015, they overtook rental cars for American professionals.
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