The company reported adjusted net income for the third quarter 2018 of $180 million. Photo via Hertz. Hertz Global Holdings released its Q3 financial results today, reporting a total revenue of $2.8 billion, a 7% increase versus the third quarter 2017. Income before income taxes for the third quarter 2018 was $181 million versus $143 million in the same period last year.… Continue reading Hertz Closes Q3 with $2.8B Revenue
Author: Auto Rental International Online News
Avis Partners with ViaVan for London Ride-Hailing
Through the ViaVan app, passengers are seamlessly matched in real time with other riders travelling in the same direction, sharing their trip in a professionally-chauffeured van. Photo courtesy of Via. Avis Budget Group is partnering with rideshare brand ViaVan, the joint venture between Via and Mercedes-Benz Vans, as it launches a pilot of its on-demand… Continue reading Avis Partners with ViaVan for London Ride-Hailing
Avis Grows Q3 Revenue to $2.8B
The company’s corporate debt was approximately $3.6 billion at the end of the third quarter. Photo via Atomic Taco/Flickr. Avis Budget Group released its Q3 results today, reporting a revenue of $2.8 billion, a new record for the company. “Our Americas segment delivered record profits and a 50 basis point margin improvement in the third quarter… Continue reading Avis Grows Q3 Revenue to $2.8B
Commercial Fleet Sales Increased 10.3% in October
Sales into the three fleet segments in October increased 6.8% to 2.29 million. Photo courtesy of Ford, GM, FCA, and Nissan. Sales of vehicles to commercial fleets from eight manufactures increased 10.3% to 54,920 in October compared to a year ago as sales of trucks, vans, and SUVs increased 7% to 48,437 and provided about 89%… Continue reading Commercial Fleet Sales Increased 10.3% in October
Avis Taps Amazon for Connected Vehicle Data Platform
Avis Budget will leverage AWS’s capabilities for artificial intelligence (AI), machine learning (ML), and data management to develop a wide variety of innovative connected vehicle applications and mobility services. Photo via iStockPhoto/Karneg. Avis Budget Group is planning to use Amazon Web Services’ (AWS) Connected Vehicle Solution to build its data analytics platform, the car rental company announced. Working… Continue reading Avis Taps Amazon for Connected Vehicle Data Platform
California Approves Waymo’s Autonomous Vehicle Testing
Alphabet backed-Waymo has been testing driverless vehicles in Phoenix since last year. Photo courtesy of Waymo. The California Department of Motor Vehicles has granted Waymo the state’s first permit to test autonomous vehicles on public roads without a safety operator in the driver’s seat. Alphabet backed-Waymo launched its first driverless vehicle test program in Phoenix last year. … Continue reading California Approves Waymo’s Autonomous Vehicle Testing
VW’s Electrify America Unveils EV Sharing in Sacramento
Electrify America will unveil its electric car-sharing service for an apartment complex in Sacramento, California, as part of the company’s $44 million investment in the city. The Whispering Pines Apartments in Meadowview will feature hundreds of electric vehicles from Envoy, an electric car-sharing company awarded funds by Electrify America, according to a release from the… Continue reading VW’s Electrify America Unveils EV Sharing in Sacramento
Enterprise Leads $40M Investment in Delivery Service
Same day delivery is expected to explode to $55 billion in the U.S. within the next five years, according to Business Insider Intelligence. Photo via U.S. Department of Agriculture/Flickr. Deliv, a same day delivery service that works with many of the nation’s retailers, announced that industry leading companies across multiple segments, including Clayton Venture Partners,… Continue reading Enterprise Leads $40M Investment in Delivery Service
GM’s Maven Expands Peer-to-Peer Carsharing Service
The new peer-to-peer offering provides a hassle-free way for owners to generate income from their car when they’re not using it. Photo via Maven. General Motor’s is expanding its Maven carsharing platform to now reach 10 cities by the end of the year, according to the automaker. General Motor’s Maven will now be made available in… Continue reading GM’s Maven Expands Peer-to-Peer Carsharing Service
Drive.ai Launches Free, On-Demand Ride-Hailing in Arlington
According to Drive.ai, the City of Arlington sees 14 million visitors a year and hosts 100,000 people in its entertainment district during Cowboys and Rangers games. Photo via Drive.ai. Drive.ai launched its free, on-demand ride-hailing service in Arlington, Texas, Friday, deploying a fleet of autonomous vehicles to be used by the city’s residents and visitors.… Continue reading Drive.ai Launches Free, On-Demand Ride-Hailing in Arlington