Bloomberg Talks Hertz CEO Gil West Talks Motor Sport ROI, Future Growth
Jun 13, 2025
The CEO of Hertz dives into the thrilling world of motorsports and its impact on brand loyalty. He discusses the evolution of travel demand and the expanding electric vehicle fleet. Insights on the challenges of car pricing and the competitive rental landscape reveal strategic shifts for profitability. Lastly, West shares investors' confidence in Hertz's transformation, including plans for autonomous vehicles, showcasing the intersection of innovation and adventure.
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Historic Motorsport Connection
- Hertz's motorsports involvement is historic and deeply tied to its brand heritage.
- CEO Gil West personally connected with Hertz racing through iconic cars like the 65 Shelby GT.
Leisure Travel Drives Growth
- Leisure travel, with higher margins, is growing even as government travels decline.
- This mix shift supports Hertz's overall year-over growth despite market concerns.
Rationalizing EV Fleet Strategy
- The industry overcommitted to EVs too quickly, leading to inventory adjustments.
- Hertz focuses its EV fleet where natural market fits exist, such as ride-hailing and off-airport rentals.