Hertz, Avis stocks surge as Trump auto tariffs could make used rental car fleets look shinier

Stocks of car rental companies Hertz and Avis saw their values unexpectedly hit the gas on Thursday. As of around midday, shares of Hertz Global Holdings were trading at around $4.15, an intraday increase of more than 20%. Likewise, Avis Budget Group shares were trading at around $74, also an increase of more than 20%.

This is likely welcome news to investors, who have seen the values of both stocks erode over the past year. Hertz shares are down more than 48% from a year ago, while Avis stock is down 40%.