The major market segments all experienced seasonally adjusted prices that were down year over year in May. Graphic: Cox Automotive Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) declined in May compared to April, according to the Manheim Used Vehicle Value Index (MUVVI) released June 7, which fell to 197.3 (12.1%) from… Continue reading Wholesale Used Vehicle Market Prices Fall Below Benchmark Level
Author: Auto Rental International Online News
Auction Sales So Far Keep a Steady Pace Over 2023 Levels
Sales during the first five months of the year reached 2.89 million units, a 9% improvement over 2023’s five-month total. Graphic: AuctionNet Wholesale auction sales reached just over 606,000 units in May, up 5% versus April and nearly 12% versus May 2023, according to data released June 6 from AuctionNet, according to AuctionNet figures released… Continue reading Auction Sales So Far Keep a Steady Pace Over 2023 Levels
SIXT USA Adds New Arizona Rental Car Operation
The SIXT team in Tucson celebrates the grand opening of its newest car rental outlet in Arizona. Photo: SIXT USA SIXT USA has opened its newest U.S. car rental branch at Tucson International Airport (TUS), extending the company’s presence in Arizona to two airport locations including Phoenix Sky Harbor International Airport. Located in the TUS Rental… Continue reading SIXT USA Adds New Arizona Rental Car Operation
Monthly and Year-to-Date Fleet Sales Rise in May
Once again, rental car fleet sales are spurring the overall monthly fleet sales figure while preserving the year-to-date increases. Graphic: Bobit The May fleet sales tallies from Bobit show the monthly total has regained an increase while year-to-date fleet sales are maintaining a narrow upward trendline. Overall monthly fleet sales were 216,387 vehicles in May,… Continue reading Monthly and Year-to-Date Fleet Sales Rise in May
Two Hertz Execs Leaving Amid Company Troubles
New Hertz CFO Scott Haralson is a seasoned executive and veteran of the transportation industry, having most recently served as CFO of Spirit Airlines. Photo: Hertz Hertz announced on June 3 it is losing its chief financial officer and chief operating officer as the reeling auto rental company struggles with fallout from an over-investment in… Continue reading Two Hertz Execs Leaving Amid Company Troubles
Bob Kelley, Publisher of Kelley Blue Book, Pioneered Used Vehicle Values
Kelley managed and published the Kelley Blue Book, building it from a well-known auto value guidebook into a pioneering internet resource. Photo: Kelley Family / Graphic: Bobit Bob Kelley, former publisher of the Kelley Blue Book, died May 28 at his home in Indian Wells, California, of natural causes, according to his official obituary. He was… Continue reading Bob Kelley, Publisher of Kelley Blue Book, Pioneered Used Vehicle Values
Green Motion Adds Franchises in the Netherlands, Ethiopia
Green Motion Netherlands team (L to R): Thom Doorenbosch, Richard Lowden, Mark van der Kallen, Krijn van Aken, Sophie Gadsden. Photo: Green Motion Green Motion International has arranged master franchises with car rental operations in the Netherlands and Ethiopia, the company announced on May 24. KAV Autoverhuur, a Dutch domestic van, truck, and car rental business, has… Continue reading Green Motion Adds Franchises in the Netherlands, Ethiopia
RateHighway, Rexalto Partner to Advance Car Rental Pricing
This is an example of the artwork that RateHighway and Rexalto use in talking about their latest tech tool collaboration on real-time rental car pricing. Photo: RateHighway RateHighway, a developer of car rental pricing automation, recently joined with Rexalto, a technology firm offering pricing solutions, to integrate Rexalto’s AMPE pricing engine into RateHighway’s RateMonitor ecosystem,… Continue reading RateHighway, Rexalto Partner to Advance Car Rental Pricing
Carwiz Named Franchise of the Year in Croatia
Tomislava Ravlić, director of business development at Carwiz International, and Carwiz CEO and founder Krešimir Dobrilović display the company awards from the Croatian Association for Franchise Business. Photo: Carwiz International Carwiz International, a rental car franchise company, recently won three awards at the Franchise Brand Award competition, including the Franchise of the Year award, which… Continue reading Carwiz Named Franchise of the Year in Croatia
OEMs Seeing More Inventory as Days Supply Rises
A spike in supply among brands with twice the industry average of days’ supply pulled up the overall count. Supply ranged from Toyota at the low end with 30 days to Dodge at the high end with 151 days. Graphic: Cox Automotive Despite generally healthy sales in April, brands with 100+ average days’ supply pulled… Continue reading OEMs Seeing More Inventory as Days Supply Rises