Author: Auto Rental International Online News

Wholesale Used-Vehicle Prices Increase in First Half of May

All major market segments saw seasonally adjusted prices that remained lower year over year in the first half of May. Graphic: Cox Automotive Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 0.3% from April in the first 15 days of May, according to the mid-month Manheim Used Vehicle Value Index released… Continue reading Wholesale Used-Vehicle Prices Increase in First Half of May

CARWIZ Contract Spreads Brand to 16 More Countries

(L to R): Amr Fawzy, founder and CEO of Oncarz Mobility, Mohamed Kamal, CEO of Onpassive Technology, and Krešimir Dobrilović, CEO and founder,  CARWIZ International, played instrumental roles in bringing about the latest expansion contract to fruition. Photo: CARWIZ CARWIZ International recently expanded into one of the most dynamic tourist regions globally, the Middle East… Continue reading CARWIZ Contract Spreads Brand to 16 More Countries

New Vehicle Prices Rise Agan, While Affordability Dips

Month over month price changes pulled up for most automakers, while declines still dominate year over year comparisons. Graphic: Cox Automotive A downward slide in new-vehicle prices through the first quarter of 2024 reversed course in April, with average transaction prices (ATPs) increasing by 2.2% to $48,510, the highest prices since December 2023, according to… Continue reading New Vehicle Prices Rise Agan, While Affordability Dips

Supply, Lease-Returns, and Interest Rates Driving Near-Term Vehicle Market

CAR 2024 emcee Charlie Vogelheim (L) moderates outlook panel with  Jeremy Robb, senior director of economic and industry insights at Cox Automotive, John Coles, senior director of data science and analytics at ACV Auctions, Dr. Alex Yurchenko, senior VP, and chief data science officer at Black Book and MOTOR, and Tom Kontos, chief economist at ADESA… Continue reading Supply, Lease-Returns, and Interest Rates Driving Near-Term Vehicle Market

U-Save Signs On Franchisee at Houston Airport

U-Save President Richard Lowden (L) offcially welcomes Houston International Airport franchisee Mateen Shah. Photo: U-Save U.S. car rental franchise brand U-Save recently launched its latest U.S. operation with the sale of their franchise at the Houston International Airport.  Mateen Shah, an independent operator looking to further expand his business, acquired the franchise, formally signed in… Continue reading U-Save Signs On Franchisee at Houston Airport

NextCar, Priceless Add Execs to Leadership Team

Jon Dill and Penny Sottile are now on the operations support team for NextCar and Priceless.  Photo: Priceless, NextCar NextCar and Priceless recently announced that Jon Dill and Penny Sottile have joined their operations support team. At the start of Dill’s career in 1997, he reported for duty washing cars. With a career spanning all… Continue reading NextCar, Priceless Add Execs to Leadership Team

April 2024 Fleet Sales Lose Q1 Momentum

In sum, total April 2024 fleet sales stood at 202,309, down 5.6% from 214,362 in April 2023. So far in 2024, total monthly fleet sales have fallen year-over-year in March and April, while rising in January and February. Graphic: Bobit In recent months, the three primary fleet sectors each have lurched among gains and losses… Continue reading April 2024 Fleet Sales Lose Q1 Momentum

DriveItAway Expands Vehicle Access Through Micro-Lease Program

The extenson of a micro-leasing program to dealers marks a milestone for DriveItAway, which now has the potential to offer quality used vehicles to hundreds of thousands of prospects shut out of the market, said DriveItAway founder and CEO John Possumato. Photo: DriveItAway DriveItAway Holdings, Inc., a provider of new automotive industry digital mobility platforms… Continue reading DriveItAway Expands Vehicle Access Through Micro-Lease Program

Length of Rental Numbers Show Steady Decreases from Post-COVID Highs

West Virginia had the highest overall LOR at 21.8 days, a 0.6-day increase from Q1 2023. Colorado had the second-highest LOR at 21.1 days, followed by Rhode Island (20.9) and Alaska (20.7). North Dakota had the lowest LOR with 13.1 days, a 1.5-day drop from Q1 2023. Hawaii wasn’t far behind at 13.2 days, followed… Continue reading Length of Rental Numbers Show Steady Decreases from Post-COVID Highs