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Hertz is closing sections of its car sharing business as it focuses more on traditional car rental operations.
The company launched Connect by Hertz in 2008 to compete with firms such as Zipcar. It rebranded the service Hertz on Demand and then Hertz 24/7.
Hertz said it was pressing ahead with its car sharing service for “corporates and universities” as well as van hire through retail partnerships, but is scaling back its B2C operations.
In a statement it said: “In the US and Europe, Hertz is in the process of closing its small B2C car sharing operations due to their limited scale and scope while continuing to focus on further improving and investing in its car rental business.
It added: “It is continuing full steam ahead with its ‘24/7’ branded carpooling and fleet management services for corporates and universities as well as van hire through retail partnerships (B2B2C) including Ikea, Homebase, Costco, B&Q and Leroy Merlin. Hertz also has a profitable and ongoing B2C operation in Australia.”
The announcement follows the car rental firm reporting a 5 per cent drop in revenue for the second quarter of 2015. Hertz said income was hit by a strong dollar and low rental volume in the US.
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