Hertz filling for bankruptcy

https://www.cnn.com/2020/05/22/business/hertz-bankruptcy/index

wonder how this will affect tacoma prices?
Do tacomas become more or less desirable with a flooded used car market?
Or do prices tank so far that the value of our tacos falls along?

 

Looking at the Hertz used car sales (https://www.hertzcarsales.com) shows 64 Silverados, 42 F150s, 18 4Runners, 7 Rams (new style 2019's) and no Tundras or Tacomas for sale within 100 miles of me.

Now, if I was in the market for a newer truck and looking at price I'd be looking hard at their 2019 F150s and 2020 Silverados to cross shop. Almost all are Supercrew, V8, 4x4. The 2020 Silverados generally have 8K to 12K miles and are $30K, the Rams/F150s are $28K - Wow!.

If I was looking at new/newer Tacomas I'd be hard pressed to pay our Tacoma tax.

BTW, 2018 4Runners with 40K miles - $28K. SR5 packages, 4x4.

 

https://www.hertzcarsales.com/certified/Ford/2019-Ford-F-150-2e1c9b510a0e0a6b6c1a274f23339683.htm

jeez

 

Interesting.

I was looking at a 2017 Ford fusion hybrid w/ 90k miles for my wife about 4 months ago $9990 at their used lot.

Decided to keep the Subaru instead. I have always thought their used car prices were very fair if not generously low.

 

They didn’t seem outrageous on price

 

They're also selling off their special edition 650hp Z06 Corvettes

 

supposedly they are gonna off load 30k cars per month until december..

 

only see 4 tacoma's nation wide. guessing it will not have an impact.

 

well not directly, but if theres cheaper options available and people look elsewhere for deals, then yes it could.

You dont necessarily need a surplus of tacomas for tacoma prices to go down.

 

https://www.hertzcarsales.com/certi...a-Tacoma-292d4d8d0a0d0c1408dac1c6361ed75c.htm

That's a pretty good price.

I take that back they're all 4x2.

 

thats a really good price damn

its says trim is trd off road, is there a trdoffroad 2wd?, might be wrong on the drive train. Hertz normally has 4x4s

if it is 2wd then meh

 

Oddly, there are OR 2wds.

 

Yep, 2wd with locker. Used to be sold as prerunners now they're just trdOR.

 

Just caused they filed bankruptcy doesn’t mean they’re closing. Their debtors will get screwed and they’ll stay open. Large companies do it all the time.

 

Was going to bid to buy a few hundred shares this AM then put in an order to bail when price was 3x what I paid. But HTZ has been temp removed from trading.

Would not have made much, but it would have covered my insurance premiums for a year.

My prediction. Look for a foreign buyer who wants to be in the rental bus in the US. Some inventory will go public, some to Avis, and the downsized / debt lowered balance will go to the buyer, who will likely pay in CNY.

The used vehicle market as a whole is going to have a big price adjustment down. Not just because of Hertz, but lower demand.

It's the perfect time to buy a nicely trimmed econo box for that daily driver, before fuel gets back up high in a year or so.

 

Yea I'm looking for a small work truck

 

They are selling 30k cars a month until December

 

Nothing they have is small. Some are just bigger than others.

The 2011 Ranger was about the last 'small' sold in the US

 

I guess I mean "small"

 

that works out to being their entire fleet.

69.4% based on their latest 10q