Crude oil was going for $113/barrel in 2014 (which is likely around the time that Hertz made the decision to buy sedans) and then went down to less than half of that a year later. While the price has fluctuated since then, the prices have remained fairly low. Meanwhile, Americans like SUVs for reasons that I don't fully understand, but it's just a fact. And when gasoline is cheap, it doesn't cost that much more to buy one, so demand is high, and therefore resale prices go up (at least compared to sedans).
Crude oil was going for $113/barrel in 2014 (which is likely around the time that Hertz made the decision to buy sedans) and then went down to less than half of that a year later. While the price has fluctuated since then, the prices have remained fairly low. Meanwhile, Americans like SUVs for reasons that I don't fully understand, but it's just a fact. And when gasoline is cheap, it doesn't cost that much more to buy one, so demand is high, and therefore resale prices go up (at least compared to sedans).