Hertz (NASDAQ:HTZ) shares jumped as much as 18% in premarket trading on Wednesday after CNBC reported that the car-rental company will begin selling used cars through Amazon Autos.
Starting Wednesday, customers within 75 miles of Dallas, Houston, Los Angeles, and Seattle can shop Hertz vehicles on Amazon, complete the purchase online, and pick up their car at Hertz locations. The program is expected to expand to 45 locations nationwide.
The move also marks a major expansion of Amazon’s (NASDAQ:AMZN) growing autos business, launched last December in partnership with Hyundai. At the time, shoppers could only browse digital showrooms and compare prices, but not purchase directly. Earlier this month, Amazon Autos began offering used and certified pre-owned vehicles, starting in Los Angeles.
Hertz Car Sales is now Amazon Autos’ first fleet dealer, listing used cars from brands like Ford, Toyota, Chevrolet, and Nissan.
Meanwhile, shares of used car retailer Carvana (CVNA) fell up to 5.3% before the bell.