Vans had the largest increase at 22.9%, followed by compact, midsize, and sports cars which all had seasonally adjusted year-over-year gains ahead of the overall industry. Source: Cox Automotive Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) decreased 0.1% in July from June, according to the Manheim Used Vehicle Value Index released… Continue reading Wholesale Used-Vehicle Prices Decrease Slightly in July
Author: Auto Rental International Online News
They’re Finally Here – Driverless Rental Cars in Vegas
Halo.Car has launched a driverless rental car service where the vehicles are piloted by a remote driver. Photo: Halo.car Las Vegas-based Halo.Car has started a transportation service that allows customers to rent vehicles piloted by a remote driver, according to a report by the Las Vegas Review-Journal. The remote driver operates the vehicle from Halo.Car’s… Continue reading They’re Finally Here – Driverless Rental Cars in Vegas
EvoCharge, AmpUp Form Partnership for Smart EV Charging Solutions
EvoCharge Level 2 charging stations with AmpUp software are available through EvoCharge and reputable electrical distributors nationwide. The solution is also certified for various utility and state rebate programs. Photo: EvoCharge EvoCharge, a provider of electric vehicle supply equipment (EVSE) and cable management solutions, announced Aug. 3 it has partnered with AmpUp to offer simple,… Continue reading EvoCharge, AmpUp Form Partnership for Smart EV Charging Solutions
Avis Posts Quarterly Records for Revenue, Income
Avis Budget Group’s average rental fleet in the Americas increased 32% to 500,653 units, remarkable in that the U.S. car rental industry overall bought 32% fewer vehicles in the first half of 2022 compared to 2021. Photo: Atomic Taco/flickr For the second quarter of 2022, Avis Budget Group shattered all major revenue and income records… Continue reading Avis Posts Quarterly Records for Revenue, Income
IARA Readies for Record Turnout at Summer Roundtable
Joe Miller, the executive vice president of client success at AutoIMS, will emcee the 2022 IARA Summer Roundtable in Nashville, Aug. 16-18. He’s pictured here at the 2022 Conference of Automotive Remarketing held in March in Las Vegas. Photo: Bobit The leading trade group for consignors anticipates the strongest turnout to date for its annual… Continue reading IARA Readies for Record Turnout at Summer Roundtable
What Are Europeans’ Favorite U.S. Destinations?
According to Jetcost, a large majority of tourists have opted for California at the top of Europeans’ searches, with Los Angeles as the second most wanted city in the U.S. for German and Italian tourists. Photo: Pixabay / acheii Price search engine provider Jetcost announced in a statement that searches for flights on its website have increased by 250%,… Continue reading What Are Europeans’ Favorite U.S. Destinations?
Hertz Posts Q2 Revenue of $2.3B, Net Income $940M
Hertz’s revenues in the Americas segment jumped 20% quarter over quarter, while adjusted EBITDA rose 16%. Image: Hertz For the second quarter of 2022 Hertz Global Holdings reported record results of revenue of $2.3 billion in overall revenue, a net income of $940 million, and adjusted corporate EBITDA of $764 million, a 33% margin. The revenue… Continue reading Hertz Posts Q2 Revenue of $2.3B, Net Income $940M
Car Market Shows Signs of More Buyer-Seller Balance
The auction used vehicle market appears to “finding equilibrium” after more than a decade of economic recovery and stimulus-fueled growth, the report concludes. Graphic: AutoIMS The auction vehicle market appears to be finding a balance between buyers and sellers as a long upward pressure on prices may be leveling off, according to trends in the… Continue reading Car Market Shows Signs of More Buyer-Seller Balance
How Will a Recession Affect Fleet Sales?
Today’s market is characterized by pent-up demand restrained by a dramatic lack of labor and supply shortages. A modest increase in unemployment will still leave a healthy consumer, which is a positive barometer for travel and vehicle sales. Image: Pixabay / Mohamed Hassan The new and used car markets today feel like The Beatles song,… Continue reading How Will a Recession Affect Fleet Sales?
July Auto Sales Drop as Headwinds Slow Recovery
Compact cars is the only vehicle segment expected to see a rise in the July 2022 new vehicle sales forecast. Source: Cox Automotive July U.S. auto sales are expected to show very little change from June’s results as a lack of supply continues to batter the new-vehicle market, according to the Cox Automotive forecast released… Continue reading July Auto Sales Drop as Headwinds Slow Recovery