Hertz debuts hourly car rentals

Nation's No. 2 car rental company becomes first major firm with hourly offerings; rentals available at three locations in Manhattan.


NEW YORK (CNNMoney.com) -- Car rental company Hertz is debuting an hourly car rental service at three Manhattan locations Tuesday.

The nation's No. 2 car rental company behind privately-held Enterprise, Hertz is the first major car rental company to offer the hourly rental. Privately held Zipcar has a similar hourly offering in a limited number of cities, including New York.

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Hertz is debuting hourly car rentals at three Manhattan locations.

Hertz (Charts) will charge as little as $12 an hour for the car rentals.

"Although New York City boasts one of the world's largest mass transit systems, for small errands, quick day trips, or even lugging groceries, sometimes a personal vehicle is simply the most convenient way to travel," said a statement from Scott Gaines, Hertz's regional vice president for New York.

The offering will be only at three Manhattan locations, not at any of the metropolitan region's three major airports. While Hertz's revenue trails Enterprise, it is No. 1 in car rentals at airport locations.

In addition to Enterprise, Hertz's major competitors are No. 3 Avis Budget Group (Charts) and Dollar Thrifty Automotive Group (Charts). Both operate the brands included in their corporate names, as well as privately held Vanguard Car Rental, which operates the Alamo and National rent-a-car brands.


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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

Morningstar: © 2014 Morningstar, Inc. All Rights Reserved.

Factset: FactSet Research Systems Inc. 2014. All rights reserved.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2014 and/or its affiliates.