The average used-vehicle listing price was $26,446 at the end of December, up from $26,226 at the end of November but down 3% from a year earlier. Graphic: Cox Automotive Used-vehicle inventory closed 2023 at the highest levels of the year, according to the Cox Automotive analysis of vAuto available inventory data released Jan. 19.… Continue reading Used Vehicle Supply Closes Out at High Point for 2023
Author: Auto Rental International Online News
Green Motion, U-Save Add Colombia to Growing South American Market
(L to R): Fernando Peris, Mark Tristram-Walmsley, Andres Alzate, Richard Lowden, Augusto Valencia, Brenda Azua, Alexandra Pérez, Juan Jose Valencia. Photo: Green Motion Green Motion and U-Save recently announced the sale of their master country franchise for Colombia that were purchased by Turoll Rent a Car, owned and operated by Juan José Valencia Diaz and… Continue reading Green Motion, U-Save Add Colombia to Growing South American Market
SIXT, Stellantis Form Mega-Deal on Rental Fleet Vehicles
(L to R): SIXT Co-CEO Alexander Sixt, Stellantis COO of Enlarged Europe Uwe Hochgeschurtz, and SIXT Co-CEO Konstantin Sixt celebrate an agreement for the purchase of up to 250,000 Stellantis vehicles, laying the foundation for further global expansion. Photo: SIXT SIXT and Stellantis announced Jan. 16 a multi-billion euro agreement under which SIXT could buy up… Continue reading SIXT, Stellantis Form Mega-Deal on Rental Fleet Vehicles
A Second Impression Smarter Than the First
While car rental and limo are two distinct transportation sectors, both roll metal on the ground 24/7 and provie a vital and valued form of transportation that meets a wide array of traveling needs. Photo: Blacklane A shorter version of this column appears in the 2024 Auto Rental News Fact Book The first time I… Continue reading A Second Impression Smarter Than the First
ACRA Adds Phil Spink to Board
As operations manager, Spink is responsible for several business activities, including hiring, vehicle ordering, damage control, daily rentals, and financial statements. Photo: Phil Spink The American Car Rental Association recently approved Phil Spink of SIXT Rent a Car and Tom Wood Automotive Group to fill the remaining term of board director Eric Rothman, who resigned… Continue reading ACRA Adds Phil Spink to Board
Hertz to Replace One-Third of EV Fleet with ICE Vehicles
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
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