Skift Survey: More Evidence of Uber Becoming a Rental Car Replacement
Skift Take
The substitution effect is real, and car rental companies for the first time are beginning to look like transitory businesses.
The existential threat to the rental car business is real. That much is now evident to anyone not listening to the public relations spin coming out of the, well, the rental car world.
Hertz announced its earnings last week and cut its revenue expectations for the year, saying that the rental car market is suffering from excess capacity. And by "excess industry capacity" it might as well have said "Uber," "Lyft," or any other on-demand car service, though Ub
