Developments at iconic rental car brand Hertz in the US would have warned local investors in mobility stocks to brace themselves for effects of Covid-19.
Last week Motus reported that the severe effects of the lockdown meant reducing the vehicle rental fleet by 40%, and a retrenchment process to reduce the workforce by at least half. Motus will also close 20 branches.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.