All major market segments saw seasonally adjusted prices that were lower year over year in October. Graphic: Cox Automotive Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) decreased 2.3% in October from September, according to the Manheim Used Vehicle Value Index (MUVVI) released Nov. 7, which dropped to 209.4 and was down… Continue reading Wholesale Used Vehicle Prices Reverse Two Months of Gains
Author: Auto Rental International Online News
U-Save Car Rental Now Doing Business in Canada
Business entrepreneurs Jeff, Brad, and Nicole Elliott celebrate the opening of their U-Save car rental franchise in Vancouver, B.C. Photo: U-Save American car rental franchise brand U-Save Car & Truck Rental, which was acquired by Green Motion International in late 2022, recently expanded its franchise operations into Canada. The company on Nov. 6 announced it… Continue reading U-Save Car Rental Now Doing Business in Canada
How Data Can Power an Evolving Vehicle Market
Applying deep data science to vehicle inventory management can spur more accurate pricing models in real-time. Go to Source
Hertz Adjusts EV Plans Amid Unforeseen Challenges
The combined cost challenges of running electric vehicles shaved earnings margins for the third quarter. Here Hertz Teslas are lined up at a charging depot near Los Angeles International Airport. Photo: Martin Romjue / Bobit The recent disclosures from Hertz about slowing its ambitious plans to add electric vehicles provides a sobering reminder of the… Continue reading Hertz Adjusts EV Plans Amid Unforeseen Challenges
Avis Budget Group Reports Peak Demand in Q3 Results
October started off strong for Avis Budget Group and it expects to continue throughout the holiday season. Graphic: Avis Budget Group / Bobit Avis Budget Group, Inc. ended the third quarter with revenues of $3.6 billion, driven by peak demand and seasonal revenue per day increases, according to company financial results announced Nov. 1. Net… Continue reading Avis Budget Group Reports Peak Demand in Q3 Results
Car Rental Trade Group Works Top Issues at D.C. Lobbying Event
The U.S. Capitol on Wednesday Oct. 25, 2023, just moments after a brief gathering of Congressional representatives on the East steps announcing Rep. Mike Johnson, R-LA as the new Speaker of the House. The final Speaker votes unfolded as members of ACRA were holding their annual legislative and lobbying conference and visiting Congressional offices. Photo:… Continue reading Car Rental Trade Group Works Top Issues at D.C. Lobbying Event
LOR Trends Down Slightly as Repair Times Improve
Alaska had the highest overall LOR at 21.9 days, which was an increase of 1.6 days from Q3 2022. Rhode Island (20.6), Oklahoma (20.4) and Colorado (20.2) were the next-highest. North Dakota brought in the lowest LOR at 12.3 days, a decrease of 0.7 days from Q3 2022. Hawaii was right behind at 12.5 days,… Continue reading LOR Trends Down Slightly as Repair Times Improve
October Fleet Sales Decline as YTD Momentum Steadies
Government sector fleet sales rose by 31% in October, while the other two sectors were down YOY. Graphic: Bobit Sales into large commercial, rental, and government fleets among nine major auto manufacturers fell 10% in October compared to October 2022, according to Bobit fleet sales data released Nov. 2. Monthly totals among the three fleet… Continue reading October Fleet Sales Decline as YTD Momentum Steadies
Go Rentals Partners with International Yacht Company
The partnership enables both companies to enhance complementary luxury travel and amenities for leisure travelers. Photo: Chiara Caldarola / Pexels Go Rentals and the International Yacht Company (IYC), one of the world’s largest yachting companies, recently launched an official partnership, activated at the recent Fort Lauderdale International Boat Show. The partnership reflects a business bond… Continue reading Go Rentals Partners with International Yacht Company
Carwiz Lands on New Continent
With CARWIZ International’s presence now on every inhabited continent, the company is positioned to serve the diverse needs of travelers around the world. Photo: Carwiz Carwiz International took on a new journey recently by entering the South American market, starting with Chile. Carwiz has opened two locations in Santiago, Chile – one in the downtown… Continue reading Carwiz Lands on New Continent