The rental-car company posted a loss of nearly $2.9 billion in 2024. Hertz chalked up the disappointing results to vehicle depreciation and the falling price of electric vehicles,

The CEO of Hertz said he feels humbled following comments by billionaire investor Bill Ackman, whose investment management company Pershing Square recently accumulated a 19.8% stake in the car rental firm.

President Trump’s auto tariffs may have sparked fears of price hikes among consumers, but some car-buying businesses could actually benefit, according to investor Bill Ackman. The Pershing Square Capital Management founder made a bullish case for Hertz yesterday (April 17), after revealing a nearly 20 percent stake in the car rental company.