1328 ET - Car rental companies including Hertz and Avis Budget Group could stand to benefit from tariffs, Deutsche analyst Chris Woronka says. Woronka expects tariffs to raise used car prices between 7% and 19%, which could boost profits for the companies. That's mainly because new car prices will likely rise as auto makers deal with elevated trading costs. The companies should expect to log an immediate increase in pricing on resale vehicles, Woronka says. Both companies' shares were down around 3% Thursday, a little better than the roughly 4% decline across the S&P 500. (katherine.hamilton@wsj.com)
(END) Dow Jones Newswires
April 03, 2025 13:28 ET (17:28 GMT)
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