Hertz Global Holdings, parent company for Hertz Equipment Rental Corp., last week said it has raised short-term rates in U.S. and European equipment rental markets by 10 percent, with long-term rates rising about 5 percent. The company announced the equipment rental rate hikes along with rental rates in its rental car division.
Hertz chairman and CEO said the rate increases were part of Hertz’ “overall strategy which will align rental revenues more closely with our overall costs.”
Park Ridge, N.J.-based HERC is No. 3 on the RER 100, with about 290 locations in the United States and Canada, and an additional 95 locations in China, France and Spain.