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Hertz Global signs agreement to supply rental cars to Lyft in US

ABR Staff Writer Published 01 July 2016

Hertz Global Holdings signed an agreement with Lyft to supply its U.S. drivers with cars under specified rental agreements.

Thus, expanding upon two pilot markets where Hertz and Lyft have partnered together since November 2015.

Built on the model used in pilots in Las Vegas and Denver, the agreement provides set rental rates for drivers, who will be serviced from dedicated off-airport Hertz locations that give on-site support. The cars can be used for both Lyft business and personal driving.

In addition to Las Vegas and Denver, Hertz will begin renting cars to Lyft drivers in Los Angeles and San Francisco with more markets expected to follow as part of the national agreement.

Hertz Global Holdings president and chief executive officer John Tague said: "This agreement builds on the work we've been doing with Lyft for the past eight months. Based on that experience, Hertz and Lyft were ready to take the next step, which resulted in this U.S. supply agreement.

"Utilizing cars that are rotating out of our consumer rental fleet creates a model that works for Hertz and for Lyft drivers by providing them with well-maintained, good condition cars.

"We consider this agreement to be largely complementary to our car rental business, and it enables us to leverage our fleet and distribution infrastructure to participate in the dramatic growth in the ride sharing, or e-hailing, segment."

Source: Company Press Release