Hertz electric vehicles are lined up along charging stations at an EV charging depot near the Los Angeles International Airport on Aug. 7, 2023. Photo: Martin Romjue / Bobit As electric vehicles face more driver and consumer resistance, Hertz plans to shed 20,000 EVs from its U.S. fleet and reinvest the sales proceeds back into… Continue reading Hertz to Replace One-Third of EV Fleet with ICE Vehicles
Author: Auto Rental International Online News
SIXT Expands Car Rental Service Into Utah Market
A SIXT car rental counter at the Hartsfield-Jackson Atlanta International Airport. A new branch a the Salt Lake City airport joins a growing list of SIXT rental car outlets across North America. Photo: SIXT SIXT USA is growing its U.S. presence with a new car rental branch that opened Jan. 9 near the Salt Lake… Continue reading SIXT Expands Car Rental Service Into Utah Market
New 360 Scanner Uses AI To Detect Vehicle Damage
The scanner can spot dents, dings, or scratches, which documents them on a full damage report. Pre-checkout, 300 “before images” are saved and can be used in claims if needed. Photo: ProovStation ProovStation, a maker of artificial intelligence-assisted automated vehicle valuation, demonstrated its 360° AI-powered car inspection scanner at the Consumer Electronics Show in Las… Continue reading New 360 Scanner Uses AI To Detect Vehicle Damage
AI, EVs, Data & Risks: The Drivers of Future Auto Rental Trends
Electric vehicles represent the biggest paradigm shift in the history of ground transportation in 100 years. The rental car industry has never faced such a profound change. Photo: Bullet EV Charging Solutions This article appears in the 2024 ARN Industry Fact Book If there was one group that serves as an informed fulcrum of industry… Continue reading AI, EVs, Data & Risks: The Drivers of Future Auto Rental Trends
Used Vehicle Values Fall By 20% Since 2021 Peak
Although used vehicle prices have declined in the last two years, they are still about 33% higher than at the end of 2019. More normal declines will likely be seen in the coming years, but the average value of a wholesale unit will continue to be higher than in the past. Photo: Manheim Compared to… Continue reading Used Vehicle Values Fall By 20% Since 2021 Peak
How Car Rental Operators Can Prevail in 2024
The biggest issue for car rental in 2024 isn’t fleet, it’s the cost of money. Financing at 8% compared to 2% adds hundreds to a car, and that money doesn’t come back at resale. Photo: Auto Rental News This column appears in newly released the 2024 Auto Rental News Fact Book. It’s becoming clear that… Continue reading How Car Rental Operators Can Prevail in 2024
2024 Auto Rental News Fact Book Arrives Online
The core stats of the annual industry reference evolve from a comprehensive rental fleet operator outlook survey. Cover: Auto Rental News Welcome to the 36th annual digital edition of the 2024 Auto Rental News Fact Book. This year’s volume gleans data from the most thorough original operator survey conducted by Bobit, owner of Auto Rental… Continue reading 2024 Auto Rental News Fact Book Arrives Online
Auto Market Forecast for 2024: The Old Normal
In the wholesale market, Manheim operations are expected to experience constrained growth with a volume increase of less than 1%. While the volumes of repossessions, rentals, and off-lease vehicles are expected to increase compared to the previous year, they are still likely to remain below pre-pandemic levels. Photo: Cox Automotive For the U.S. auto market,… Continue reading Auto Market Forecast for 2024: The Old Normal
2023 Fleet Vehicle Sales Soar Past 2 Million Mark
The December spike in rental fleet sales pushed up overall sales for the month, leading to a stronger cap for the year. Graphic: Bobit U.S. fleet vehicle sales passed another post-pandemic milestone in 2023 as supply chain kinks straightened out and vehicles inventory available to fleets ramped up, according to Bobit/Automotive Fleet sales data released… Continue reading 2023 Fleet Vehicle Sales Soar Past 2 Million Mark
Industry Trends: What’s Driving the Rental Market Today?
One trend among rental companies is seeking different technology options to streamline their operations. Graphic: Bobit This cover article appears in the recently published 2024 Auto Rental News Fact Book. It’s been several years of ups and downs for the car rental industry. After the COVID-19 pandemic, rental operators experienced an unprecedented supply crisis coupled… Continue reading Industry Trends: What’s Driving the Rental Market Today?