ROANOKE TIMES Copyright (c) 1996, Roanoke Times DATE: Tuesday, March 5, 1996 TAG: 9603050051 SECTION: BUSINESS PAGE: B-5 EDITION: METRO DATELINE: DETROIT SOURCE: Associated Press
Ford Motor Co.'s Hertz Corp. rental car subsidiary will open sales operations by year's end in 34 new locations, mostly in the West and South.
Hertz has added five locations since Jan.1 to the five it was operating last year.
``Essentially, they provide us an outlet to sell the cars we purchase without buyback programs,'' spokesman Joe Russo said. Under buyback programs, factories sell cars to daily rental fleets with the agreement to buy them back. These cars are known in the industry as ``program cars.''
Hertz buys more than 300,000 cars a year, most under buyback programs, Russo said. The number it buys using other methods is increasing.
Hertz hopes to make more money selling these cars through retail outlets.
Most vehicles sold at Hertz used-car outlets will be a year old or newer and will have been driven 20,000 miles or more, Russo said.
LENGTH: Short : 28 linesby CNB