Hertz Cancels Car Orders
May 7, 2020—Rental car company Hertz has canceled some car orders from automakers like General Motors and Hyundai, per The Detroit News.
General Motors is taking back cars it agreed to sell that were on their way to Hertz, Avis, and Enterprise, a spokesperson said. Hyundai also confirmed it has redirected some vehicles to its retailers that it was planning to produce for fleet customers.
The effort by automakers to help the rental car companies reduce their fleets shows how the coronavirus shutdowns have impacted the industry.Hertz’s lenders granted an eleventh-hour reprieve from a potential bankruptcy on Tuesday.
Hertz said in a filing Tuesday that it doesn’t expect to acquire new vehicles for the remainder of this year, according to the report.