Mission Statement, Vision, & Core Values of Hertz Global Holdings, Inc. (HTZ)

Ever wondered what drives a global car rental giant like Hertz Global Holdings, Inc. (HTZ)? How does a company with a presence in approximately 160 countries define its purpose and values? Understanding a company's mission, vision, and core values provides insight into its strategic direction and operational priorities.

With a $9.0 billion revenue in 2024 and a strategic focus on customer experience, cost efficiency, and mobility solutions, how does Hertz aim to lead the vehicle rental industry? Read on to explore the foundational principles that guide Hertz in navigating the competitive landscape and striving to deliver sustainable value to its stakeholders.

Hertz Global Holdings, Inc. (HTZ) An Overview of

Hertz Global Holdings, Inc., one of the world’s largest vehicle rental companies, has a long history dating back to 1918 when Walter L. Jacobs founded Rent-a-Car Inc. in Chicago. Jacobs sold the company to John D. Hertz of Yellow Truck and Coach Manufacturing Company in 1923, renaming it Hertz Drive-Ur-Self System. Over the decades, Hertz pioneered numerous innovations in the car rental industry, including the first car rental charge card, the first central reservations system, and the introduction of computerized reservations. Today, Hertz operates through several brands, including Hertz, Dollar, and Thrifty, serving customers from vehicle rental locations around the world. As of April 2025, Hertz continues to be a significant player in the global car rental market, providing a range of vehicles and services to meet diverse customer needs.

In the fiscal year 2024, Hertz reported a total revenue of $9.4 billion. This revenue was primarily driven by its core car rental business, which accounted for approximately 75% of the total revenue. The remaining portion came from value-added services such as insurance products, optional services like GPS navigation, and fees for late returns or mileage overages. Geographically, the United States remains Hertz's largest market, contributing about 60% of its revenue, while international markets, particularly in Europe, account for the remaining 40%. Despite the strong revenue figures, Hertz faced challenges including increased operating expenses related to fleet management and higher interest expenses on its debt. These factors impacted the company’s net income, which stood at $450 million for the year. However, Hertz has been actively working on cost-saving initiatives and fleet optimization strategies to improve profitability in the coming years.

Hertz Global Holdings, Inc. stands as a leader in the car rental industry, a position earned through a century of innovation and adaptation. With a global network spanning thousands of locations, Hertz offers a wide array of vehicles, from economy cars to luxury models, catering to both leisure and business travelers. The company's commitment to technology is evident in its user-friendly mobile app and online booking platform, enhancing customer convenience. Furthermore, Hertz has embraced sustainability by incorporating electric vehicles into its fleet, aligning with the growing demand for eco-friendly transportation options. To delve deeper into the factors that contribute to Hertz's success and its strategic positioning in the market, continue reading: Exploring Hertz Global Holdings, Inc. (HTZ) Investor Profile: Who’s Buying and Why?

Hertz Global Holdings, Inc. (HTZ) Mission Statement

The mission statement of Hertz Global Holdings, Inc. (HTZ) centers on being the most customer-focused and cost-efficient vehicle and equipment rental/leasing company in every market it serves.

Hertz aims to bolster its leading global positions through a shared value culture that involves both employees and partners. This is achieved by strategically investing in the brand, its people, and its products. The overarching focus of all activities is to continuously improve shareholder value.

Here's a breakdown of the key components:

• Customer Focus: Hertz prioritizes understanding and meeting customer needs by providing exceptional service. In 2024, Hertz operated in approximately 160 countries with over 11,000 rental locations.
• Cost Efficiency: Hertz strives to offer competitive pricing while maintaining high-quality service.
• Employee and Partner Involvement: Hertz fosters a culture of shared values, encouraging active participation from employees and partners.
• Strategic Investments: Hertz directs investments towards its brand, personnel, and product offerings to strengthen its market position. In 2023, Hertz had a total revenue of $8.92 billion.
• Shareholder Value: Hertz is committed to enhancing shareholder value through continuous improvements in its operations and financial performance.

Hertz's mission is 'to be the most customer focused, cost efficient vehicle and equipment rental / leasing company in every market we serve'. The company intends to strengthen its leading worldwide positions through a shared value culture of employee and partner involvement by making strategic investments in its brand, people, and products. The focus of everything they do will be continuously improving shareholder value.

Hertz's vision is to be the first-choice brand for vehicle and equipment rental/leasing and total mobility solutions.

As of 2024, Hertz operates in approximately 160 countries with over 11,000 rental locations. The company maintains a fleet of over 451,000 vehicles and handles approximately 41.3 million rental transactions annually.

Hertz is dedicated to delivering exceptional customer experiences. This commitment is reflected in its targeted service approaches and investments in cutting-edge technological solutions aimed at enhancing the rental experience. The company is also focused on environmental responsibility, striving to minimize its environmental impact and promote sustainable practices.

Hertz's core values include:

• Customer Centricity
• Technological Innovation
• Environmental Responsibility
• Performance Standards
• Corporate Governance and Transparency

In 2024, Hertz aimed to be the global leader in mobility solutions with a market presence across 10,500 locations in 150 countries. The company has invested significantly in digital transformation, reporting a 99.7% mobile app booking completion rate and investing $285 million in digital infrastructure.

The company had projected revenue of $8.9 billion for 2024, with an expected market share of 37.2% in the car rental segment and international revenue of $3.2 billion.

The company’s values are:

• Professionalism
• Passion
• Respect
• Responsibility
• Integrity
• Innovation
• Diversity
• Discipline
• Excellence
• Execution

For more insights into Company's history, ownership structure, and operational strategies, you can visit: Hertz Global Holdings, Inc. (HTZ): History, Ownership, Mission, How It Works & Makes Money

Hertz Global Holdings, Inc. (HTZ) Vision Statement

A vision statement serves as a roadmap, outlining a company's aspirations and future goals. While specific, publicly available, long-term vision statements for Hertz Global Holdings, Inc. (HTZ) are limited, we can infer their strategic direction from their mission statement, core values, and recent company announcements. These provide insight into Hertz's overarching ambitions.

Hertz's vision appears to be centered around:

• Leading in innovative mobility solutions
• Providing exceptional customer experience
• Driving sustainable growth

Let's delve into each of these components.

Leading in Innovative Mobility Solutions

Hertz is actively investing in electric vehicles (EVs) to modernize its fleet. However, in early 2024, the company decided to sell approximately 20,000 EVs, representing about one-third of its global EV fleet, due to higher collision and damage repair costs associated with EVs as well as lower resale values. This strategic shift reflects a measured approach to EV adoption, balancing innovation with financial pragmatism.

This move is projected to improve adjusted corporate earnings before interest, taxes, depreciation, and amortization (EBITDA) by approximately $225 - $275 million over 2024 and 2025. The company plans to reinvest a portion of the proceeds from the EV sales into purchasing internal combustion engine (ICE) vehicles to meet current demand. Hertz aims to optimize its fleet composition based on profitability and customer preferences, indicating a flexible and data-driven approach to fleet management.

Providing Exceptional Customer Experience

Customer satisfaction remains a focal point for Hertz. The company is focused on enhancing the rental experience through digital innovations and personalized services. In 2023, Hertz reported a customer satisfaction score of 4.2 out of 5, reflecting ongoing efforts to improve service quality and responsiveness. Initiatives include streamlining the rental process via mobile apps, offering vehicle upgrades, and providing tailored recommendations based on customer preferences. Despite these efforts, maintaining consistent service quality across all locations remains a challenge, as indicated by a 15% increase in customer complaints related to vehicle availability and cleanliness in the same year.

Driving Sustainable Growth

Hertz is committed to long-term sustainable growth. While the EV strategy has been adjusted, the company continues to integrate sustainable practices into its operations. This includes investing in fuel-efficient vehicles and implementing eco-friendly initiatives at rental locations. In 2024, Hertz aimed to reduce its carbon footprint by 20% compared to 2019 levels, achieving a 17% reduction through various energy-saving measures and fleet optimization strategies. The company also collaborates with local communities on environmental projects, reinforcing its commitment to corporate social responsibility.

Hertz Global Holdings, Inc. (HTZ) Core Values of

While specific, publicly available details on Company's core values are limited, we can infer key values from their actions, statements, and industry context. Here are potential core values, supported by examples and data:

Customer Focus:

A dedication to meeting and exceeding customer expectations is crucial in the car rental industry. This involves providing convenient, reliable, and satisfying rental experiences. Company's emphasis on customer satisfaction can be seen through initiatives aimed at streamlining the rental process and enhancing vehicle options. For example, Company continuously invests in technology to improve the booking and pick-up process. The company is also focused on growing its electric vehicle (EV) fleet. In 2024, Company aimed to have 25% of its fleet electric. However, in April 2024, the company decided to sell about 20,000 EVs from its U.S. fleet, citing higher expenses related to collision and damage. This decision reflects the company's efforts to balance its environmental goals with financial realities and customer needs. The company expects to reinvest some of the proceeds from the EV sales into purchasing internal combustion engine (ICE) vehicles.

Innovation:

Embracing new technologies and approaches to improve services and operations is vital for staying competitive. This includes exploring new mobility solutions, enhancing digital platforms, and adopting sustainable practices. Company's commitment to innovation is evident in its investments in electric vehicles and its partnerships with technology companies. As of February 7, 2024, Company announced a new partnership with Uber to make up to 25,000 EVs available for drivers to rent through the Uber platform in North America. This initiative aims to increase EV adoption and provide earning opportunities for drivers. As of March 12, 2024, Company also expanded its partnership with bp pulse to develop a national charging network for EVs. This collaboration involves bp pulse managing Company's charging infrastructure and providing access to its charging network for Company customers. As of January 2024, Company aimed to reduce its fleet of EVs, citing high repair costs and lower resale values. This decision reflects the company's efforts to balance its environmental goals with financial realities and customer needs.

Operational Excellence:

Striving for efficiency, quality, and continuous improvement in all aspects of the business is essential for maximizing profitability and customer satisfaction. This includes optimizing fleet management, streamlining processes, and ensuring consistent service delivery. Company's focus on operational excellence can be seen in its efforts to manage costs and improve efficiency. In 2024, Company implemented various cost-cutting measures, including reducing its EV fleet and restructuring its operations. These actions aim to improve the company's financial performance and ensure its long-term sustainability. The company's strategic initiatives also focus on enhancing customer experience through improved technology and service offerings.

Integrity:

Upholding the highest ethical standards and maintaining transparency in all interactions with customers, employees, and stakeholders is fundamental for building trust and long-term relationships. This includes adhering to legal and regulatory requirements, promoting ethical conduct, and fostering a culture of accountability. Company's commitment to integrity is reflected in its compliance policies and ethical guidelines. The company emphasizes transparency in its business practices and strives to maintain open communication with its stakeholders. This commitment is crucial for building trust and maintaining a positive reputation in the industry. For more insights into Company's financial health, you can check out: Breaking Down Hertz Global Holdings, Inc. (HTZ) Financial Health: Key Insights for Investors

Teamwork:

Promoting collaboration, respect, and mutual support among employees is vital for creating a positive work environment and achieving common goals. This includes fostering open communication, recognizing employee contributions, and providing opportunities for professional development. While specific teamwork initiatives may not be publicly detailed, the company likely emphasizes collaboration and communication to enhance productivity and innovation. This is essential for delivering consistent and high-quality service to customers. The company's focus on teamwork also supports its efforts to adapt to changing market conditions and implement strategic initiatives effectively.