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Hertz Global Holdings Inc (NASDAQ:HTZ) shares are gaining momentum on Wednesday. The rally follows a significant surge in used vehicle valuations.
Manheim Index Hits Multi-Year High
The Manheim Used Vehicle Value Index rose 6.2% last month. This marks the highest level since summer 2023, according to CNBC. The index tracks wholesale auction prices across the U.S.
Tight Inventory Boosts Resale Value
Cox Automotive reports that used vehicle demand remains resilient. Supply fell below 40 days in March. This represents the lowest inventory level seen in 2026. …
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