Estero-based car rental company Hertz experienced a $443 million net loss in the first quarter, according to an earnings report. The loss was partly due to a 13% year-over-year decrease in total revenues. The company reported $1.81 billion in total revenues, attributing the decline to an 8% reduction in fleet capacity. Company officials said Hertz is intentionally running a tighter fleet, while employing its Buy Right, Hold Right, Sell Right approach, prioritizing acquiring vehicles at favorable prices and maximizing residual values through retail channel sales, including the company’s Hertz Car Sales. More than 70% of the core U.S. rental fleet is 12 months old or newer.