Author: Auto Rental International Online News

Avis Reports Record $3.5B Revenue in Q3

Though Avis reported record highs for its Americas and international segments, the company’s stock saw a dip just after its earnings report was released.  Logo: Avis/Canva On Oct. 31, Avis Budget Group, Inc. announced financial results for its third quarter 2022. The rental company saw revenues at $3.5 billion, 18% above third quarter 2021, a… Continue reading Avis Reports Record $3.5B Revenue in Q3

Wholesale Used-Vehicle Prices See Smaller Decline in October

Compact cars had the smallest decline, at 6.1%, followed by vans and pickups, at 6.4% and 8.4%, respectively. Graphic: Cox / Maheim Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) decreased 2.2% in October from September, according to the Manheim Used Vehicle Value Index released Nov. 7. The index declined to 200.0… Continue reading Wholesale Used-Vehicle Prices See Smaller Decline in October

October Fleet Sales Up Nearly 49% YOY

Sales into rental and commercial were both up 58% year over year, while sales into government fleets were down just slightly at 0.3%. Graphic: Cox Automotive Sales into large fleets, not including sales into dealer and manufacturer fleets, increased 21% month over month in October to 148,721 units, according to an early estimate from Cox… Continue reading October Fleet Sales Up Nearly 49% YOY

Are You Tracking the Right Metrics in Revenue Management?

Some actionable metrics worth tracking are the number of rental days or utilization levels. Don’t worry about a vanity metric like total number of customers served, says Michael Meyer of Rate-Highway. Photo: Canva In today’s changing rate environment, advanced tools are important but aren’t always enough to keep up with revenue management. “Revenue management is perhaps once… Continue reading Are You Tracking the Right Metrics in Revenue Management?

Finalrentals Launches in Morocco

Expansion in Morocco is thanks to local car rental expert Youssef Bejraoui. Photo: Finalrentals Finalrentals expands its network to Africa with the historic and popular tourist destination of Morocco. The partnership has been secured by local car rental group, lead by Youssef Bejraoui, seasoned professional and car rental industry expert in Morocco. “Finalrentals is growing rapidly all across the… Continue reading Finalrentals Launches in Morocco

Surprice Opens Two New Locations in Italy

The rental company already operates in 12 other cities across Italy. Photo: Surprice Surprice Car Rentals continues its expansion in Italy and announced new operations in Pisa and Venice. Surprice Car Rentals Italy has already opened in Bergamo, Bologna, Cagliari, Catania, Fiumicino, Napoli Capodichino, Paderno Dugnano, Roma Ciampino, Sorrento, Pompei, and Salerno. The company said its… Continue reading Surprice Opens Two New Locations in Italy

GM, Microvast to Develop Part for Safer, Stronger EV Batteries

GM is joining a team of battery experts from national laboratories, academia and industry who are working to develop more reliable, affordable, longer range and higher performance EV batteries. Photo: General Motors General Motors and battery manufacturer Microvast will work together to develop specialized EV battery separator technology and build a new separator plant in… Continue reading GM, Microvast to Develop Part for Safer, Stronger EV Batteries

RentalMatics, Liberkee Partner on Digital Keys

Moving key and vehicle access to a mobile app frees up rental companies from traditional key management.  Photo: Canva Telematics company RentalMatics and digital key provider Liberkee announced an integration via a new partership in October to advance the opportunities of contactless car rental. It enables customers to offer an app-based experience in addition to the classic counter-centric… Continue reading RentalMatics, Liberkee Partner on Digital Keys

Wholesale Vehicle Market Climate Heads Into a Cooldown

The average model year of wholesale vehicles sold in the third quarter reached 2015.6 compared to 2014.6 in 3Q 2021, according to the AutoIMS Industry View report. A 2016 Mercedes-Benz GLS pictured here would be more typical of the age of vehicles recently resold. Photo: Bobit The latest third quarter data from AutoIMS indicates changing… Continue reading Wholesale Vehicle Market Climate Heads Into a Cooldown