China Auto Rental has announced that USA-based Hertz has agreed to take a position in its operations because it continues to construct on its position as domestic market leader in brief and long-term car rentals. Hertz will acquire a stake of approximately 20 per cent, on a fully diluted basis, in CAR and hold a seat on the board of directors.  Hertz and CAR will be co-branded at the latter’s full service rental locations countrywide, and Hertz’s car rental locations and operations in China, which will provide premium rental services in key cities, will be contributed to CAR. Hertz will continue to manage its outbound sales team in China, and its equipment rental business in the country is unaffected by this announcement. The partnership fulfils Hertz’s objective to significantly increase...
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