Hertz leads way to price hike

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Ford Motor Co.'s Hertz Corp. is leading the way in rental-car companies' efforts to raise prices 10% to 20%, the troubled industry's largest hike in years. As of Tuesday, Hertz raised prices $5 a day on daily, weekly and weekend rates nationwide, and companies like Avis Inc., Chrysler Corp.'s Dollar Rent a Car unit and Beech Holdings Corp.'s Budget Rent a Car said they may follow Hertz's lead. Hertz said it plans another big increase before yearend but admitted it could back off if smaller competitors do not match the hike.

Copyright July 1995 Crain Communications Inc.

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