Hertz Global Holdings reported a first quarter net loss of $163.5 million

, nearly triple the net loss from a year earlier, "attributable to decreased volume and pricing, increased restructuring and related costs and residual value declines." Worldwide car rental revenues dropped 21 percent and rental rate revenue per transaction day retreated 3.3 percent, to $41.93. U.S. car rental demand "appears to be stabilizing, indicating a possible bottoming out of volume declines," according to the company. "Corporate pricing declines should moderate with easier second half 2009 comparisons."