This round of investments brings Kyte’s total funding to approximately $300M across equity and debt. Logo: Kyte Kyte, an on-demand car rental service that delivers vehicles to drivers, has announced $60M in Series B growth equity financing. The round is led by InterAlpen Partners, whose founder Stephen George (an early investor in Tesla and SpaceX)… Continue reading Kyte Closes $60M in Series B Growth Equity Financing
Author: Auto Rental International Online News
Surprice Car Rentals Opens 2 More Locations in Italy
The airport locations will be added to the many other cities Surprice operates across the country. Photo: Surprice Car Rental Surprice Car Rentals continues its global growth with two new destinations in Italy. The operator announced that it has now opened in Milano Linate airport and Firenze airport. Surprice Car Rentals Italy has already opened in Bergamo,… Continue reading Surprice Car Rentals Opens 2 More Locations in Italy
Charlotte to Add EV Carsharing for Affordable Housing Developments
To provide power for the electric vehicles, two EV chargers will be installed at each housing location. Photo: Pexels.com The Southern Alliance for Clean Energy (SACE) announced the launch of a new electric vehicle (EV) carsharing program in Charlotte, N.C., in partnership with Centralina Regional Council and the City of Charlotte, according to a press… Continue reading Charlotte to Add EV Carsharing for Affordable Housing Developments
Zubie Partners With Peer-to-Peer RV Rental Platform
By using Zubie’s telematics, RV owners on Outdoorsy will have the ability to track the location, driving speed, and maintenance status of their RVs while they are being rented. Photo: Zubie Telematics provider Zubie has partnered with Outdoorsy, an online peer-to-peer RV and campervan rental marketplace. This integration will allow RV owners the ability to track… Continue reading Zubie Partners With Peer-to-Peer RV Rental Platform
Ritchie Bros. Auctioneers Acquires IAA to Expand Global Marketplace
IAA sells lightly damaged, salvage and clear-title vehicles, parts cars, SUVs, trucks, motorcycles, and heavy equipment at auctions across the U.S. File photo: IAA Ritchie Bros. Auctioneers and IAA (Insurance Auto Auctions) Inc. announced Nov. 7 that they have entered into a definitive agreement under which Ritchie Bros. will acquire IAA in a stock and… Continue reading Ritchie Bros. Auctioneers Acquires IAA to Expand Global Marketplace
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