By: Steve Smith
It’s widely accepted that the popularity of ride-sharing firms such as Uber (UBER) and Lyft (LYFT) has hurt car rental companies such as Hertz (HTZ) and Avis (CAR). But, it may be too soon to write them off.
While Uber’s initial public offering, which is set for Friday, will get all the headlines, car rental companies are quietly making moves which could help them mount a comeback.
Over the past few years, companies such as Hertz and Avis have seen a steady decline in business, especially both business and vacation travelers, as people opt to use ride share on an as-needed basis rather than incur the cost of renting a vehicle that might sit idle for the bulk of time.
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