Hertz partners with Amazon Autos, Amazon’s used car retail platform, in a move that boosts confidence among investors, causing Hertz shares to rise. Amazon Autos expands its reach by offering non-Hyundai models and partnering with over 130 dealers in the US, including Hertz Car Sales locations.

Hertz emerges from bankruptcy with a turnaround plan focused on fleet management and vehicle sales. The company’s “Buy Right, Hold Right, Sell Right” strategy pays off, with depreciation per unit exceeding expectations. Hertz continues to refresh its rental fleet, selling older vehicles and replacing them with new models.

Despite positive strides, Hertz still faces challenges, including high borrowing costs and softening travel demand. Fitch maintains a negative outlook for the company, although it has the support of hedge fund billionaire Bill Ackman. Rival used car retailers like Avis, CarMax, and Carvana see their shares decline in response to Hertz’s partnership with Amazon Autos.

The announcement of Hertz’s partnership with Amazon Autos leads to a decline in shares for rival used car retailers. Despite this, the move could benefit all players in the industry as more buyers turn to the used car market. Subscribe to The Daily Upside for more finance, economics, and market analysis.

Read more at Yahoo Finance: Hertz Chooses New Route for Fleet Management With Amazon Autos Hookup