Hertz launching new a program sell its used rental cars to dealers online

Car and equipment rental company Hertz Global Holdings, Inc. said Tuesday it will start a new program to its use car dealers to sell online.

The company "Dealer Direct" website provides merchants with real-time statistics on the Hertz's inventory and lowers prices to dealers pay for their cars by cutting out the transaction fees that typically go to middlemen.

The website will be a database searchable by vehicle type, location and availability to inform traders if they are interested in cars.

Hertz shares fell 26 cents, or 1.8 percent, to $ 14.14 during afternoon trading.

Source: AP