Hertz Beats Earnings Estimates Despite Falling Used-Car Prices

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Hertz beats earnings estimates, as an increase in travel demand helped it manage through a period of weaker used-vehicle prices in the US

Hertz said travel demand rose in the quarter as the company reported a rise in both transactions and utilization of its fleet.

The company also saw depreciation of its cars nearly triple from a year ago to $195 a car per month. Rental companies and car dealers have been wrestling with a softening of used car markets, which has tumbled form near-record pricing a year ago and declined 11% in mid-July.

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