Amazon Partnership Sends Hertz Stock Up 8% As US Pre-Owned Car Market Set To Hit $1 Trillion By 2030

Hertz Global Holdings Inc. HTZ shares surged 8.57% to $5.83 on Friday following the announcement of its strategic partnership with Amazon.com Inc. AMZN to sell certified pre-owned vehicles through Amazon Autos.Check out the current price of HTZ stock here. Strategic Partnership Expands Digital ReachThe collaboration allows customers to browse, finance, and purchase from thousands of Hertz-certified vehicles through Amazon’s marketplace. Initial rollout begins in Dallas, Houston, Los Angeles, and Seattle, with expansion planned across Hertz’s 45 U.S. locations.Market Impact on CompetitorsCarvana Co. CVNA shares declined on Wednesday following the announcement, raising concerns about increased competition. Hertz previously partnered with Carvana in 2021 to sell vehicles through their direct sales channel. The Amazon deal could redirect inventory away from Carvana’s platform.The organized dealer segment, which captured 51.27% of market share in 2024, continues to consolidate through technology partnerships and scale advantages over independent dealers.$1 Trillion Market DynamicsThe U.S. used car market is expected to hit $1.20 trillion by 2030, growing at a 2.71% CAGR, according to Mordor Intelligence. Growth is being fueled by rising new car prices—pushing average monthly payments to $756 in 2025—and the expansion of certified pre-owned programs.Online sales channels represent the fastest-growing segment at 5.31% CAGR through 2030, despite offline channels maintaining 66.51% market share. This digital transformation aligns with Hertz’s strategy to expand its digital retail footprint in the trillion-dollar secondary automotive market.Hertz, the Florida-based global vehicle rental company, has a market capitalization of $1.81 billion and an average trading volume of 8.28 million shares.With a strong Momentum in the 89th percentile, Benzinga’s Edge Stock Rankings indicate that HTZ is experiencing short and medium-term consolidation along with long-term upward movement. Here is how the stock fares on other parameters. Elon Musk’s Tesla To Offer Grok, ChatGPT Rival DeepSeek, ByteDance’s Doubao With Its Cars In China Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.Image Via Shutterstock