(Reuters) -Car rental firm Hertz Global said on Tuesday it had launched a fully online car-buying marketplace, as it leans on the demand for used vehicles.
The company’s shares rose as much as 2.5% after the news.
The announcement follows Hertz’s collaboration with Amazon.com’s automotive retail platform, Amazon Autos, to sell preowned vehicles.
The company said it would also provide customers an option for trade-in offers.
Hertz has been facing bumpy rental demand, which has prompted it to shed much of its electric-vehicle fleet in favor of gas-powered cars over the past few years.
The company last year offloaded a majority of its Teslas, citing higher repair costs.
Hertz Global operates its car rental business through its Dollar, Thrifty and Firefly vehicle-rental brands across 160 countries. Its Hertz Car Sales brand offers used cars for purchase online and at locations across the U.S.
(Reporting by Parth Chandna; Editing by Shreya Biswas)
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