Can Car Rental Companies Combat Uber?

Can Car Rental Companies Combat Uber?

Posted On May 8, 2019 12:49 pm

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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About author

Steve Smith

Steve Smith have been involved in all facets of the investment industry in a variety of roles ranging from speculator, educator, manager and advisor. This has taken him from the trading floors of Chicago to hedge funds on Wall Street to the world online. From 1987 to 1996, he served as a market maker at the Chicago Board of Options Exchange (CBOE) and Chicago Board of Trade (CBOT). From 1997 to 2007, he was a Senior Columnist and Managing Editor for TheStreet.com, handling their Option Alert and Short Report newsletters. The Option Alert was awarded the MIN “best business newsletter” in 2006. From 2009 to 2013, Smith was a Senior Columnist and Managing Editor for Minyanville’s OptionSmith newsletter, as well as a Risk Manager Consultant for New Vernon Capital LLC. Smith acted as an advisor to build models and option strategies to reduce portfolio exposure and enhance returns for the four main funds. Since 2015, he has worked for Adam Mesh Trading Group. There, he has managed Options360 and Earning 360, been co-leader of Option Academy, and contributed to The Option Specialist website.