Two U.S. House Democratic lawmakers on Friday asked Hertz Global Holdings, and Avis Budget Group to answer questions about rising rental car prices and higher industry profits.
Highlights
- Two U.S.
- House Democratic lawmakers on Friday asked Hertz Global Holdings, (HTZ.O) and Avis Budget Group to answer questions about rising rental car prices and higher industry profits.
- The lawmakers want documents and information by April 1.
- Hertz posted a record adjusted profit in the fourth quarter as demand for rental cars remained strong, but post-bankruptcy restructuring costs yielded a large net loss.
- The companies did not immediately respond to requests for comment.
- The higher revenue is the result of an industry-wide drastic increase in prices as customer demand outstrips vehicle supply with consumers returning to rental counter for leisure and business travel.