Car rental company Hertz (HTZ) announced the launch of an online marketplace to help used-car dealers purchase vehicles from its fleet.
The Dealer Direct program will provide dealers with real-time information on available vehicles, Hertz said in a statement. Dealers can purchase the cars directly from Hertz, resulting in lower prices, the company said.
"Hertz Dealer Direct is an integral part of our car sales strategy," said Mark Frissora, CEO of Hertz. "Dealer Direct provides car dealers with a real-time, ecommerce platform for buying cars directly from our company providing financial benefits to dealers and Hertz."
Dealers will be able to sign up for alerts that let them know when a vehicle they are interested in becomes available. Hertz developed the program in conjunction with Advent Resources Inc.
Understanding Stock Market Indexes
What does it mean when people say "the market is up 2%"?View Course »