Tuesday, May 19, 2020

Bloomberg reports that Hertz has until May 22 to find around $400 million, so it's a fire sale on the Hertz Z06s, and possibly bankruptcy by Friday

With 12,000–25,000 miles on the odometer, the 650-horsepower Corvettes are listed for about 65k, a few getting a couple thou off that for higher mileage

Hertz has $13.4 billion in debt that its holders would have to recoup by selling used cars.

I didn't know Hertz was in over it's head in debt

Hertz Global Holdings Inc.’s creditors were offered two bad choices when hammering out a deal to keep it out of bankruptcy: cut the 102-year-old company some slack and hope it recovers, or let it slip into insolvency and try to recoup their investment in sales of its devalued rental fleet.

Manheim, the nation’s largest used vehicle auction, said wholesale prices in April dropped 11.4% from March, a record month-over-month decline.


Hertz is also trying to unload a pair of Callaway-tuned, 750-hp 2020 Chevrolet Camaro ZL1s

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