Trade Resources Industry Views Penske Automotive Inks Franchise Cope with Hertz

Penske Automotive Inks Franchise Cope with Hertz

US-based automotive retailer Penske Automotive has signed an agreement with car rental firm Hertz to join its franchising network.

Under the agreement, Penske Automotive will buy the assets of Hertz's existing Memphis market, enabling the traded automotive retailer to operate in more than 15 Hertz airport and off-airport locations.

The agreement will see Hertz provide its services for Penske to expand its market presence as well as ensure provided products and services meet Hertz's standards of customer service.

Hertz chairman and CEO Mark Frissora said the new agreement with Penske Automotive Group encompasses the franchising of the Memphis market.

"By partnering with Penske, Hertz will be able to accelerate our growth in key U.S. markets and further strengthen our franchising network," Frissora said.

Hertz said it has partnered with Penske in order to transit select corporate markets to franchisee operations.

 

 

Source: http://manufacturing.automotive-business-review.com/news/penske-automotive-inks-franchise-deal-with-hertz-070912
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Penske Automotive Inks Franchise Deal with Hertz
Topics: Auto Parts