Hertz Global Holdings, Inc. (HTZ): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Sumérgete en el intrincado mundo de Hertz Global Holdings, donde un modelo de negocio dinámico transforma el panorama de alquiler de automóviles. Desde terminales de aeropuerto bulliciosas hasta plataformas digitales perfectas, Hertz ha creado una estrategia sofisticada que va más allá de los simples alquileres de vehículos. Su enfoque innovador integra tecnología de vanguardia, asociaciones globales y soluciones centradas en el cliente, posicionándolas como líder en la industria de servicios de transporte. Descubra cómo esta potencia global navega por la dinámica del mercado compleja y ofrece valor en diversos segmentos de clientes, lo que hace que cada viaje no solo sea un alquiler, sino una experiencia.

Hertz Global Holdings, Inc. (HTZ) - Modelo de negocios: asociaciones clave

Enterprise Holdings (empresa matriz)

Enterprise Holdings posee Hertz Global Holdings, con una flota total de aproximadamente 1.9 millones de vehículos a partir de 2023. La empresa matriz administra múltiples marcas de alquiler de automóviles, incluidas Enterprise, Alamo y National.

Detalles de la asociación	Impacto financiero
Porcentaje de propiedad	100% subsidiaria de Enterprise Holdings
Gestión de la flota	Adquisición y gestión de vehículos centralizados

Fabricantes de automóviles principales

Hertz mantiene asociaciones estratégicas con fabricantes automotrices líderes.

Fabricante	Adquisición de vehículos (2023)
Ford Motor Company	Aproximadamente 250,000 vehículos
General Motors	Aproximadamente 200,000 vehículos
Toyota	Aproximadamente 180,000 vehículos

Autoridades del aeropuerto en todo el mundo

• Presencia operativa en más de 160 países
• Asociaciones con más de 600 aeropuertos a nivel mundial
• Ubicaciones de alquiler en los principales aeropuertos internacionales

Compañías de tarjetas de crédito y socios de viaje

Pareja	Detalles de la asociación
tarjeta American Express	Integración del programa de viajes corporativos y recompensas
Visa	Programa de pago y fidelización preferidos
Tarjeta MasterCard	Colaboración de servicios de viajes corporativos

Proveedores de tecnología y software

• Socios de infraestructura digital:
  • Microsoft Azure para la computación en la nube
  • Salesforce para la gestión de relaciones con el cliente
  • SAP para planificación de recursos empresariales
• Inversión de tecnología anual: $ 75 millones (2023)

Hertz Global Holdings, Inc. (HTZ) - Modelo de negocio: actividades clave

Servicios de alquiler de vehículos

En 2023, Hertz operó una flota global de aproximadamente 430,000 vehículos en 10,200 ubicaciones en 160 países. El volumen total de transacciones de alquiler alcanzó 14.3 millones de alquileres durante el año fiscal.

Métricas de servicios de alquiler	2023 datos
Tamaño total de la flota	430,000 vehículos
Ubicaciones globales	10,200 ubicaciones
Países atendidos	160 países
Transacciones de alquiler totales	14.3 millones

Gestión de flotas y adquisiciones

Hertz invirtió $ 5.2 mil millones en adquisiciones de vehículos durante 2023, manteniendo una composición de flota diversa.

• Adquisición de vehículos de fabricantes como Ford, General Motors y Toyota
• Tasa de reemplazo de la flota anual de aproximadamente el 35%
• Período promedio de mantenimiento del vehículo de 13-15 meses

Servicio al cliente y soporte

Hertz operó centros de atención al cliente 24/7 con 3.700 representantes de servicio al cliente dedicados en 2023.

Métricas de servicio al cliente	2023 estadísticas
Representantes de apoyo	3,700
Tiempo de respuesta promedio	12 minutos
Interacciones anuales del cliente	22.6 millones

Plataforma digital y desarrollo de aplicaciones móviles

Hertz invirtió $ 87 millones en infraestructura de tecnología digital en 2023, con el 68% de los alquileres reservados a través de canales digitales.

• Descargas de aplicaciones móviles: 12.4 millones
• Porcentaje de reserva digital: 68%
• Presupuesto anual de desarrollo de la plataforma digital: $ 87 millones

Mantenimiento y logística del vehículo

Hertz gastó $ 340 millones en mantenimiento y reacondicionamiento del vehículo en 2023, con un costo promedio de mantenimiento del vehículo de $ 780 por vehículo.

Métricas de mantenimiento	2023 datos
Gasto total de mantenimiento	$ 340 millones
Costo de mantenimiento promedio por vehículo	$780
Centros de reacondicionamiento de vehículos	87 instalaciones

Hertz Global Holdings, Inc. (HTZ) - Modelo de negocios: recursos clave

Flota de vehículos extensa

A partir de 2023, Hertz mantiene una flota global de aproximadamente 496,000 vehículos. La composición de la flota incluye:

Categoría de vehículos	Porcentaje de flota
Automóviles económicos/compactos	35%
Autos de tamaño mediano/de tamaño completo	30%
Vehículos de lujo/premium	15%
SUVS	20%

Red global de ubicaciones de alquiler

Hertz opera en 10,200 ubicaciones corporativas y franquiciadas al otro lado de:

• 150 países
• 7,200 ubicaciones en el aeropuerto
• 3.000 ubicaciones fuera del aire

Tecnología de reserva y reserva avanzada

Inversión de infraestructura tecnológica: $ 127 millones en plataformas digitales y sistemas de reserva en 2022. Los activos tecnológicos clave incluyen:

• Aplicación móvil con 25 millones de descargas
• Sistema de reserva en línea 24/7
• Chatbot de servicio al cliente con IA

Reconocimiento de marca fuerte

Métrico de marca	Valor
Valor de marca	$ 1.2 mil millones
Reconocimiento de marca global	92%
Calificación de satisfacción del cliente	4.1/5

Base de datos de clientes y programa de fidelización

Detalles del programa Hertz Gold Plus Rewards:

• 9.2 millones de miembros activos
• Gasto promedio de miembros: $ 1,450 anualmente
• El programa de lealtad contribuye al 40% de los negocios repetidos

Hertz Global Holdings, Inc. (HTZ) - Modelo de negocio: propuestas de valor

Soluciones de transporte convenientes y flexibles

Hertz ofrece opciones de alquiler de automóviles en 10,600 ubicaciones en 150 países a partir de 2023. La compañía ofrece duraciones de alquiler que van desde por hora a mensualmente, con 1.600 ubicaciones en el aeropuerto en todo el mundo.

Opciones de duración del alquiler	Disponibilidad
Alquileres por hora	Disponible en 42 áreas metropolitanas
Alquileres diarios	Cobertura global
Alquileres semanales	Disponible en 150 países
Alquileres mensuales	Programas de alquiler especializados a largo plazo

Amplia gama de tipos y clases de vehículos

Hertz mantiene una flota de aproximadamente 500,000 vehículos con diversas categorías de vehículos.

• Vehículos económicos
• Sedanes de lujo
• SUVS
• Vehículos eléctricos
• Modelos híbridos
• Camiones comerciales

Precios competitivos y paquetes de alquiler

Hertz generó $ 8.3 mil millones en ingresos para 2022, con estrategias de precios de alquiler diseñadas para seguir siendo competitivas en el mercado.

Estrategia de precios	Detalles
Tarifas corporativas	Precios con descuento para clientes comerciales
Programa de fidelización	Gold Plus Rewards con 9 millones de miembros
Paquetes promocionales	Descuentos de temporada y fin de semana

Experiencia de reserva digital sin problemas

Las plataformas digitales de Hertz procesaron el 70% de las reservas a través de canales en línea y móviles en 2022.

• Aplicación móvil con 4.5 millones de usuarios activos
• Sistema de reserva en línea 24/7
• Seguimiento de disponibilidad de vehículos en tiempo real

Cobertura global y accesibilidad

Hertz opera en 150 países con asociaciones estratégicas en redes de transporte.

Presencia global	Métrica
Ubicaciones totales	10,600 en todo el mundo
Ubicación en el aeropuerto	1.600 aeropuertos internacionales
Países atendidos	150 países

Hertz Global Holdings, Inc. (HTZ) - Modelo de negocios: relaciones con los clientes

Plataformas digitales de autoservicio

Hertz ofrece múltiples plataformas digitales para interacciones con los clientes:

• Sitio web de Hertz.com con funcionalidad de reserva en línea
• Aplicación móvil de Hertz (iOS y Android)
• Opciones de registro digital y selección de vehículos

Plataforma digital	Usuarios activos mensuales	Porcentaje de reserva
Sitio web de Hertz	3.2 millones	52%
Aplicación móvil Hertz	1.8 millones	28%

Atención al cliente 24/7

Hertz proporciona múltiples canales de atención al cliente:

• Soporte telefónico: disponible las 24 horas del día, los 7 días de la semana, en 12 idiomas
• Soporte por correo electrónico: respuesta dentro de las 24 horas
• Chat en vivo en el sitio web y la aplicación móvil

Canal de soporte	Tiempo de respuesta promedio	Tasa de satisfacción del cliente
Soporte telefónico	3.5 minutos	87%
Soporte por correo electrónico	18 horas	76%

Programa de lealtad y recompensas

Detalles del programa Hertz Gold Plus Rewards:

• Miembros totales inscritos: 9.6 millones
• Tasa de redención de recompensas anuales: 42%
• Días de alquiler gratuitos obtenidos anualmente: 1.3 millones

Nivel de membresía	Criterios de calificación	Beneficios
Oro	5 alquileres/año	Pickup acelerada, actualizaciones gratuitas
Círculo del Presidente	15 alquileres/año	Clase de vehículo garantizado, actualizaciones complementarias

Recomendaciones de alquiler personalizadas

Estrategias de personalización basadas en datos:

• Algoritmo de aprendizaje automático para recomendaciones de vehículos
• Análisis de datos de alquiler histórico
• Modelos de precios personalizados

Precisión de recomendación	Tasa de participación del cliente	Porcentaje de conversión
78%	64%	42%

Gestión de cuentas corporativas

Gestión de la relación de clientes corporativos:

• Cuentas corporativas totales: 12,500
• Volumen de alquiler corporativo anual promedio: 385,000 alquileres
• Equipo de gestión de cuentas dedicado

Segmento corporativo	Número de cuentas	Contribución de ingresos
Empresa	2,350	$ 425 millones
Negocio pequeño y medio	10,150	$ 185 millones

Hertz Global Holdings, Inc. (HTZ) - Modelo de negocios: canales

Sitio web de la empresa

Hertz opera un sitio web integral de reserva de automóviles de alquiler en Hertz.com, que manejó el 42% del total de reservas en 2023. El sitio web procesó aproximadamente 18.3 millones de reservas en línea durante el año fiscal.

Métrico del sitio web	2023 datos
Total de reservas en línea	18.3 millones
Porcentaje de reservas totales	42%
Tráfico promedio del sitio web	3.2 millones de visitantes mensuales

Aplicación móvil

La aplicación móvil de Hertz registró 7.5 millones de descargas en 2023, con 35% de las reservas digitales completado a través de plataformas móviles.

• Descargas totales de aplicaciones: 7.5 millones
• Porcentaje de reserva móvil: 35%
• Disponible en plataformas iOS y Android

Ubicaciones de alquiler de aeropuerto

Hertz opera 1.650 ubicaciones en el aeropuerto a nivel mundial, lo que representa el 85% de sus puntos de alquiler total. Estas ubicaciones generaron $ 5.2 mil millones en ingresos durante 2023.

Tipo de ubicación	Número de ubicaciones	Ganancia
Ubicación en el aeropuerto	1,650	$ 5.2 mil millones

Centros de llamadas

Hertz mantiene 12 centros de llamadas globales, manejando aproximadamente 22 millones de interacciones de servicio al cliente anualmente. El tiempo promedio de manejo de llamadas es de 6.3 minutos.

Plataformas de reserva de viajes de terceros

Hertz se asocia con 47 agencias de viajes en línea, generando el 23% del total de reservas a través de estos canales. Las plataformas incluyen Expedia, Booking.com y Orbitz.

Tipo de plataforma	Número de socios	Porcentaje de reserva
Agencias de viajes en línea	47	23%

Hertz Global Holdings, Inc. (HTZ) - Modelo de negocios: segmentos de clientes

Viajeros de negocios

Hertz sirve a viajeros de negocios con opciones de alquiler especializadas a partir de 2024:

Métricas de segmento	Punto de datos
Volumen de alquiler de viajes de negocios	37.4% de las transacciones totales de alquiler
Duración promedio de alquiler	3.2 días
Penetración de cuentas corporativas	62% del segmento de viajeros de negocios

Turistas de ocio

Las características del segmento de ocio incluyen:

• Volumen de alquiler: 49.2% de los alquileres totales
• Temporadas del pico: verano (junio-agosto), períodos de vacaciones
• Duración promedio de alquiler: 5.7 días

Clientes corporativos

Categoría de clientes corporativos	Volumen de alquiler
Fortune 500 Companies	78 contratos corporativos activos
Empresas pequeñas a medianas	1.245 cuentas corporativas activas
Ingresos corporativos totales	$ 1.3 mil millones anualmente

Agencias gubernamentales y municipales

Detalles del segmento de alquiler del gobierno:

• Contratos de la agencia federal: 42 acuerdos activos
• Contratos a nivel estatal: 186 acuerdos activos
• Ingresos anuales de alquiler del gobierno: $ 412 millones

Clientes de alquiler de reemplazo de seguro

Métricas de reemplazo de seguros	Punto de datos
Relaciones totales de socios de seguros	87 compañías de seguros
Volumen de alquiler de reemplazo	22.6% de las transacciones totales de alquiler
Duración promedio de alquiler para reemplazos	9.4 días

Hertz Global Holdings, Inc. (HTZ) - Modelo de negocio: Estructura de costos

Adquisición y mantenimiento del vehículo

A partir de los informes financieros de 2022, los costos de adquisición de la flota de vehículos de Hertz fueron de aproximadamente $ 9.4 mil millones. La compañía mantiene una flota de alrededor de 500,000 vehículos, con gastos de mantenimiento anuales estimados en $ 650 millones.

Categoría de costos	Gasto anual
Compras de vehículos	$ 9.4 mil millones
Mantenimiento de la flota	$ 650 millones
Depreciación del vehículo	$ 2.3 mil millones

Salarios y capacitación de los empleados

Los gastos totales relacionados con los empleados de Hertz en 2022 fueron de aproximadamente $ 1.2 mil millones.

• Salario promedio de empleados: $ 48,500 por año
• Fuerza laboral total: aproximadamente 22,000 empleados
• Presupuesto anual de capacitación y desarrollo: $ 35 millones

Infraestructura tecnológica

La tecnología y las inversiones en infraestructura digital para 2022 totalizaron $ 187 millones.

Categoría de gastos tecnológicos	Costo anual
Infraestructura	$ 95 millones
Desarrollo de plataforma digital	$ 62 millones
Ciberseguridad	$ 30 millones

Gastos de marketing y publicidad

Los gastos de marketing para Hertz en 2022 fueron de $ 245 millones.

• Marketing digital: $ 98 millones
• Publicidad tradicional: $ 107 millones
• Asociaciones de marca: $ 40 millones

Costos operativos de gastos generales y de la instalación

La sobrecarga operativa total para Hertz en 2022 fue de $ 512 millones.

Categoría de gastos generales	Gasto anual
Instalaciones de ubicación de alquiler	$ 278 millones
Instalaciones administrativas	$ 124 millones
Utilidad y mantenimiento	$ 110 millones

Hertz Global Holdings, Inc. (HTZ) - Modelo de negocios: flujos de ingresos

Tarifas de alquiler de vehículos

Hertz reportó ingresos totales de $ 9.38 mil millones para el año fiscal 2022. Las tarifas de alquiler de vehículos constituyeron la fuente de ingresos primario, con una tasa diaria promedio (ADR) de $ 68.53 en 2022.

Categoría de alquiler	Contribución de ingresos
Alquiler de ocio	$ 5.62 mil millones
Alquileres corporativos	$ 2.84 mil millones
Alquiler de aeropuerto	$ 4.92 mil millones

Paquetes de seguro y protección

Los ingresos adicionales de los productos de seguro generaron aproximadamente $ 487 millones en 2022.

• Exención de daños por colisión (CDW): $ 276 millones
• Seguro de accidentes personales: $ 112 millones
• Protección de responsabilidad suplementaria: $ 99 millones

Servicios de combustible

Los ingresos por servicio de combustible alcanzaron los $ 342 millones en 2022, con un cargo promedio de servicio de combustible de $ 12.50 por alquiler.

Alquiler de equipos adicionales

Los ingresos de alquiler de equipos adicionales totalizaron $ 214 millones en 2022.

Tipo de equipo	Ganancia
Navegación GPS	$ 89 millones
Asientos de seguridad para niños	$ 62 millones
Radio satélite	$ 63 millones

Contratos de alquiler corporativos y a largo plazo

Los contratos de alquiler corporativos y a largo plazo generaron $ 1.76 mil millones en ingresos para 2022.

• Contratos del gobierno: $ 612 millones
• Asociaciones comerciales: $ 748 millones
• Acuerdos de alquiler extendidos: $ 400 millones

Hertz Global Holdings, Inc. (HTZ) - Canvas Business Model: Value Propositions

You're looking at the core value Hertz Global Holdings, Inc. (HTZ) is delivering to its customers as of late 2025, which is heavily centered on fleet quality and digital convenience. This is the stuff that keeps the revenue engine running smoothly.

The primary draw is the commitment to a high-quality, newer fleet. This isn't just marketing fluff; the execution of the 'Buy Right, Hold Right, Sell Right' strategy is showing up in the numbers. As of the Q1 2025 reporting, over 70% of the core U.S. rental fleet is comprised of vehicles that are 12 months old or less. By the third quarter of 2025, this focus on fleet lifecycle management helped drive Depreciation per Unit per Month (DPU) down to $273, meeting the North Star target of sub-$300.

This newer fleet directly supports better customer sentiment. We saw measurable gains in rental ease and vehicle quality confidence, which translated into a nearly 50% year-over-year increase in the North America Net Promoter Score (NPS) in the third quarter of 2025. Honestly, that's a significant jump in customer satisfaction, showing the investments in CX training and digital tools are working.

Here's a quick look at how these operational improvements are stacking up against the Q3 2025 financial results:

Metric	Value (Late 2025)	Source Context
North America NPS Increase (YoY)	Nearly 50%	Q3 2025 Earnings Call
Core U.S. Fleet Age	Over 70% < 1 year old	Q1 2025 Reporting
Q3 2025 Fleet Utilization	More than 84%	Q3 2025 Results
Q3 2025 DPU (Depreciation/Unit/Month)	$273	Q3 2025 Results
Gold Plus Rewards Membership Growth (YoY)	Up 90%	Q3 2025 Earnings Call

Global accessibility remains a core proposition, serving both business and leisure travelers across its network. The company is also focusing on capturing durable demand through loyalty, evidenced by the Gold Plus Rewards membership growing by 90% year over year as of Q3 2025.

For flexible mobility, the strategy around Electric Vehicles (EVs) has seen a significant recalibration, which is a value proposition shift in itself-offering what the market demands now. While Hertz sold 30,000 EVs by late 2024 after facing high repair costs and lower consumer demand, they still participate in the broader EV rental space, which the market estimates at USD 10.90 billion in 2025. The Denver program, for instance, initially added up to 5,200 EVs for customers and rideshare drivers. The value here is the ability to offer a diverse fleet, even if the EV mix is being actively managed.

Finally, the transparent retail channel for used vehicle purchases provides a clear exit strategy for the fleet assets, which benefits the core rental business through better residual realization. Hertz delivered its strongest-ever quarter for retail vehicle sales in Q1 2025. The disciplined focus on retail over wholesale channels resulted in the percentage of fleet sold via retail channels increasing by 570 basis points in the first nine months of 2025 compared to the same period in 2024. This channel offers customers a straightforward way to buy off-rental vehicles.

You should review the Q4 2025 liquidity position, which stood at over $2.2 billion at the end of Q3 2025, as this underpins the ability to maintain this fleet quality and customer experience focus. Finance: draft 13-week cash view by Friday.

Hertz Global Holdings, Inc. (HTZ) - Canvas Business Model: Customer Relationships

Dedicated loyalty programs for frequent renters center on the Hertz Gold Plus Rewards program, which features tiered benefits to encourage continued engagement.

The program includes tiers such as Gold, Five Star, and President's Circle, with specific incentives tied to each level.

President's Circle members receive 1.5 points per dollar spent and are guaranteed upgrades.

Loyalty enrollments showed growth of 11% year-over-year by the end of the first quarter of 2025.

Membership in Hertz Gold Plus Rewards was up 90% year-over-year, as noted during the third quarter 2025 earnings call context.

Points earned through the loyalty program have a revised expiration rule, where points expire five years after they are earned, effective December 31, 2024.

A new cancellation policy, allowing members to cancel reservations without a fee, began implementation on September 1, 2024.

Digital self-service via mobile app and website is a major focus for transaction completion.

Hertz projects that 65% of transactions will be conducted via digital platforms by late 2025.

The Hertz app has reached millions of downloads by 2025, supporting seamless booking and rental management.

Self-service capabilities extend to enabling customers to modify reservations or purchase upgrades digitally.

The company is also taking steps to improve the experience by enabling self-service rental extensions.

Proactive customer service recovery and support are being driven by technology investments.

The focus on customer experience resulted in a nearly 50% Net Promoter Score (NPS) increase year-over-year in North America, as reported on the Q3 2025 earnings call.

By the end of the first quarter of 2025, Net Promoter Scores had improved by 11 points year-over-year globally.

AI handles nearly three-quarters of U.S. inbound chat and call support, which is cited as delivering faster resolutions and improved satisfaction.

The transactional relationship for one-time leisure rentals is supported by a wide operational footprint.

Hertz operates more than 11,000 rental locations across 160 countries.

The company offers a range of vehicles, including the Hertz Dream Collection for special treats.

Account management for corporate and ride-share partners remains a key demand driver.

Demand from corporate customers contributed to the $2.5 billion revenue reported in the third quarter of 2025.

The company maintains a substantial network of company-operated rental locations, with a majority situated in Europe.

Here's a quick look at the relationship metrics as of late 2025 data points:

Relationship Metric	Value/Data Point	Reporting Period/Context
North America NPS Increase	Nearly 50%	Year-over-year (Q3 2025 context)
Global NPS Improvement	11 points	Year-over-year (End of Q1 2025)
Gold Plus Rewards Membership Growth	90%	Year-over-year (Q3 2025 context)
Loyalty Enrollment Growth	11%	Year-over-year (Q1 2025)
Projected Digital Transaction Share	65%	By late 2025
AI-Handled U.S. Support	Nearly three-quarters	Current operational metric
President's Circle Earning Rate	1.5 points per dollar	Program detail
Points Expiration Rule Change	Five years after earning	Effective December 31, 2024
Total Rental Locations	More than 11,000	Global footprint
Corporate Customer Revenue Driver	Contributed to $2.5 billion Q3 Revenue	Q3 2025

The structure of customer engagement can be broken down by interaction type:

• Dedicated Loyalty Program Benefits:
• Guaranteed upgrades for top tier members.
• Fee-free cancellations for members.
• Tiered status levels for frequent renters.
• Digital Self-Service Features:
• Mobile app for booking and management.
• Digital modification of reservations.
• AI handling of inbound support.
• Corporate Account Management Focus:
• Serving business travelers valuing efficiency.
• Partnerships driving Q3 revenue.

The company's overall revenue for the trailing twelve months ending September 30, 2025, was $8.52B.

For Q3 2025, Hertz reported net income of $184 million.

The company's corporate liquidity stood at $1.2 billion as of March 31, 2025.

Hertz Global Holdings, Inc. (HTZ) - Canvas Business Model: Channels

You're mapping out how Hertz Global Holdings, Inc. (HTZ) gets its vehicles to customers in late 2025. It's a multi-pronged approach, balancing high-traffic physical spots with digital reach, all while pushing retail sales.

Airport and off-airport rental locations

The physical footprint remains central to the business, split between the high-volume airport channel and the local/replacement-focused off-airport locations. The Americas RAC segment, which includes the U.S. and Canada, is the largest, though the International RAC segment maintains a significant presence in Europe and Asia Pacific.

Hertz Global Holdings, Inc. operates in 160 countries globally, supported by a network that includes approximately 11,200 locations worldwide, as suggested by recent strategic discussions. For context on fleet scale, the Americas RAC segment had a peak rental fleet of about 473,200 vehicles in 2024, while the International RAC segment had 138,000 vehicles in the same year.

Here's a quick look at the scale of the physical network:

• U.S. fleet size is around 650,000 vehicles total.
• U.S. market share is approximately 11%.
• Airport rentals still comprise a significant portion of revenues.
• Off-airport caters to local customers and ride-share drivers.

Metric	Value (2024/2025 Data Point)	Segment/Context
Peak Rental Fleet (Americas RAC)	Approximately 473,200 vehicles	2024 Data
Peak Rental Fleet (International RAC)	138,000 vehicles	2024 Data
Global Locations	Approximately 11,200	Contextual Reference
Q2 2025 Revenue	$2.2 billion	Americas RAC & International RAC Combined

Owned websites and mobile applications

Digital direct booking is a key focus for demand generation and improving margins, especially as the company rolls out technology upgrades. Management noted a 100% increase in new U.S. loyalty member sign-ups, which often funnel through these direct digital channels.

The company is focused on implementing a new revenue management platform, scheduled for deployment by the end of Q3 2025, which will integrate real-time pricing optimization. This digital push supports the overall goal of improving revenue per unit (RPU) through better demand selection.

Third-party travel agencies and online travel aggregators (OTAs)

While direct channels are prioritized, traditional third-party bookings through travel agencies and OTAs still form a necessary part of volume generation. The overall TTM revenue as of September 30, 2025, stood at $8.52 billion, reflecting the blended performance across all channels, including these intermediaries.

Hertz Car Sales retail and e-commerce channel

The 'Sell Right' strategy heavily emphasizes the retail channel over wholesale. This focus is yielding tangible results in vehicle disposition. The company delivered its strongest-ever quarter for retail vehicle sales in Q1 2025.

Building on that, Q2 2025 saw the highest second-quarter retail vehicle sales volume in five years. This retail focus has resulted in an increase of 570 basis points in the percentage of fleet sold through retail channels when comparing the first nine months of 2025 to the same period in 2024. This channel directly impacts the net depreciation expense, which saw a 45% year-over-year decrease in Q1 2025.

Direct integration with ride-share platforms (e.g., Uber)

The partnership with Uber is a significant channel for fleet utilization, particularly for electric vehicles (EVs). The North American program has, to date, benefited nearly 50,000 drivers. These drivers have completed over 24 million fully-electric trips and driven more than 260 million electric miles through the program.

Furthermore, the European expansion aims to make up to 25,000 EVs available to Uber drivers by 2025. This segment caters to local mobility needs and supports Hertz Global Holdings, Inc.'s EV fleet strategy. Pershing Square CEO Bill Ackman noted in April 2025 that Hertz's fleet of over 500,000 vehicles and 11,200 locations makes it uniquely positioned to partner with Uber on fleet utilization, even for autonomous vehicle rollouts.

The operational progress in cost control is defintely visible in the DPU (Depreciation Per Unit) metric, which was $353 in Q1 2025 and improved to $251 in Q2 2025, beating the sub-$300 target ahead of schedule.

Hertz Global Holdings, Inc. (HTZ) - Canvas Business Model: Customer Segments

You're looking at the customer base for Hertz Global Holdings, Inc. as the company works through its operational stabilization following the fleet refresh. The segments are distinct, even if the reported financials often group them geographically first. Honestly, the Q3 2025 results show a clear picture of where the revenue is coming from right now, even with overall revenue contracting.

The core rental car operations are split between the Americas RAC and International RAC segments. For the third quarter of 2025, the Americas RAC segment was the largest, generating $1.91 billion in revenue, though this represented a 7% year-over-year decline. The International RAC segment contributed $568 million in the same period. Total revenue for Hertz Global Holdings, Inc. in Q3 2025 was $2.48 billion, a 3.80% decrease from Q3 2024.

Here's a breakdown of the reported segment performance for Q3 2025:

Customer Group Proxy / Segment	Q3 2025 Revenue (USD)	Year-over-Year Change Context
Americas RAC (Includes Domestic Leisure/Corporate)	$1.91 billion	Revenue fell by 7% YoY.
International RAC (Includes International Leisure/Corporate)	$568 million	Saw increasingly strong margins.
Total Company Revenue	$2.48 billion	Decrease of 3.80% from Q3 2024.

Domestic and international leisure air travelers and corporate and business travelers are the primary drivers within the RAC segments. While the company reported a decrease in overall revenue driven by market pricing pressure and fleet mix, management noted that the leisure business in the Americas was substantially recovered as of Q1 2025, whereas corporate and international inbound business lagged, sitting at 80% and 60% of 2019 levels, respectively, in that same quarter. The company is actively trying to drive a higher mix of durable segments, which includes loyalty and direct bookings, suggesting a focus on retaining these traveler types.

The segment for used vehicle buyers (via Hertz Car Sales) is a key component of the asset management strategy, which they call 'Buy Right, Hold Right, Sell Right.' This focus on retail sales is clearly a priority for cash flow and fleet optimization. The percentage of fleet sold via retail channels, including Hertz Car Sales, grew by 570 basis points year-over-year as of Q3 2025 compared to the first nine months of 2024. This retail channel is one of the world's largest used car dealers.

For the remaining segments, the data is less direct but points to strategic focus areas:

• Ride-share and gig economy drivers: Specific revenue or volume data for this group isn't explicitly broken out in the primary Q3 2025 reporting, but the strategy mentions revenue diversification by growing mobility business units.
• Insurance replacement and local renters: These customers fall under the general 'local market' operations. The company is focused on improving unit economics at the local market level through foundational changes to systems and processes. The overall fleet size as of September 30, 2025, was 12,693 revenue-earning vehicles, net.

The overall vehicle utilization rate across the fleet reached more than 84% in Q3 2025, the highest since 2018, which benefits all rental customer types by maximizing the revenue generated from the available assets. Finance: draft 13-week cash view by Friday.

Hertz Global Holdings, Inc. (HTZ) - Canvas Business Model: Cost Structure

Vehicle depreciation per unit (DPU) for Hertz Global Holdings, Inc. (HTZ) in the third quarter of 2025 was reported at $273 per month, meeting the company's North Star Target of sub-$300 DPU. For the fourth quarter of 2025 guidance, DPU is expected to rise to the range of $280-$285.

Direct Operating Expenses (DOE) per transaction day are targeted to be in the low $30s. In the first quarter of 2025, the actual DOE per transaction day was $39.24, compared to $37.59 in the fourth quarter of 2024. The company reported a 1% year-over-year decline in total DOE in the third quarter of 2025.

The cost structure is heavily influenced by fleet financing, which relies on asset-backed securitization (ABS) debt. As of March 2025, the fair market value (FMV) of the fleet securing the ABS was $9.2 billion against an ABS net book value (NBV) of $8.8 billion. This resulted in a three-month average FMV that was approximately 105% of the NBV. Furthermore, Hertz Global Holdings, Inc. extended maturities on $2.9 billion of its HVFIII Series 2021-A variable funding notes to May 2027. Total non-vehicle debt stood at $5.649 billion as of September 30, 2025.

Labor, maintenance, and collision expenses are embedded within the broader DOE. Management is focused on driving long-term structural cost efficiencies in these areas, including personnel and collision costs.

Selling, General, and Administrative (SG&A) costs for the third quarter of 2025 were $241 million. This represented an increase of 27.51% compared to the same period in the prior year. The trailing twelve months (TTM) annual SG&A expense was $931 million. However, in the first quarter of 2025, SG&A expenses had declined by 12% quarter-over-quarter.

Here is a snapshot of key cost metrics as of late 2025 reporting periods:

Cost Component	Metric/Period	Amount/Value
Vehicle Depreciation (DPU)	Q3 2025 Monthly Average	$273 per month
Vehicle Depreciation (DPU)	Q4 2025 Guidance Range	$280-$285 per month
Direct Operating Expenses (DOE) per Transaction Day	North Star Target	Low $30s
Direct Operating Expenses (DOE) per Transaction Day	Q1 2025 Actual	$39.24
SG&A Costs	Q3 2025 Actual	$241 million
SG&A Costs	TTM Annual Actual	$931 million

Other relevant cost-related data points include:

• Q1 2025 Direct Operating Expenses declined by 5% quarter-over-quarter.
• The company achieved a year-over-year improvement in DOE of $92 million in Q1 2025 due to cost control initiatives.
• As of March 2025, Hertz extended $1.7 billion of its First Lien revolving credit facility maturities to June 2028.

Hertz Global Holdings, Inc. (HTZ) - Canvas Business Model: Revenue Streams

You're looking at the core ways Hertz Global Holdings, Inc. brings in cash as of late 2025. It's all about moving metal, whether it's for a day, a month, or selling it off entirely.

Primary revenue from daily/weekly/monthly vehicle rentals is the engine here, coming from the Hertz, Dollar, and Thrifty brands across their worldwide rental car (RAC) segments. The company is laser-focused on maximizing the value from each asset, hitting a vehicle utilization rate of over 84% in the third quarter of 2025, the highest since 2018. Revenue Per Unit (RPU) reached $1,530 in Q3 2025, showing a strong focus on yield management. The disciplined fleet management, targeting a Depreciation Per Unit (DPU) of $273 in Q3 2025, directly impacts the profitability of this primary stream.

Here's a look at the total revenue picture for the third quarter of 2025, which totaled approximately $2.48 billion.

Revenue Component	Q3 2025 Amount (Approximate)
Total Reported Revenue	$2.48 billion
Operating Lease Income (Rentals)	$2.23 billion
Variable Operating Lease Income	$170 million
Topic 606 Revenue	$76 million
Americas RAC Segment Revenue	$1.91 billion
International RAC Segment Revenue	$568 million

Retail sales of used vehicles (Hertz Car Sales) represent a critical, high-margin component of the asset lifecycle strategy, dubbed "Buy Right, Hold Right, Sell Right." This channel is prioritized as one of the world's largest used car dealers. The company reported a significant strategic shift here, with the percentage of fleet sold via retail channels increasing by 570 basis points in the first nine months of 2025 compared to the same period in 2024. Q1 2025 saw record results from these retail sales, driven by a more targeted sales approach.

The remaining revenue streams are integral to the overall transaction but are not broken out with specific dollar amounts in the latest public filings you're reviewing:

• Ancillary revenue from insurance, fuel, and add-ons: These are the upsells at the counter or through digital channels that boost the value of each rental transaction.
• Fees and charges (e.g., late return, mileage): These cover operational deviations from the standard contract terms, helping to offset unexpected costs or administrative efforts.
• Partnership revenue from ride-share rentals and fleet management: This involves revenue generated from business-to-business arrangements, including supplying vehicles to mobility platforms and corporate fleet services.

The focus on operational discipline is clear; for instance, the company is actively managing its fleet age, with over 70% of the core U.S. rental fleet being 12 months old or newer as of Q1 2025.

Finance: draft 13-week cash view by Friday.