Hertz warns that the sluggish used car market will drag down Q2 core profit

Glonghui, June 24｜Car rental company Hertz stated that due to an unexpected slowdown in the used car market, its adjusted core profit for the second quarter is expected to be near the lower end of its forecast range. Although higher tariffs in the United States have driven up new car prices and prompted consumers to turn to the used car market, used car companies are still struggling to maintain profit margins amid macroeconomic pressures squeezing household budgets. Hertz expects its adjusted EBITDA for the quarter ending June 30 to be between $50 million and $80 million, while analysts on average expect $79.11 million.