Avis’s revenue of $3 billion for the quarter was 9% above the third quarter 2019. Photo by Atomic Taco/flickr Avis Budget Group Inc. posted $3 billion in revenues for the third quarter of 2021, the company reported on Nov. 1. That total almost doubled the covid-affected prior year and was also 9% above the third… Continue reading Avis’s Third Quarter Income Best in History
Author: Auto Rental International Online News
Hertz Reports Strong Q3 Results
After a string of recent announcements, deals, and leadership changes, Hertz’s finanial results are also showing the company’s upward trajectory. Image via Hertz Hertz Global Holdings announced its financial results for the third quarter of 2021, which include total revenues of $2.2 billion. Hertz’s announcement on Oct. 28 says the results reflect the continued rebound in leisure travel and tight… Continue reading Hertz Reports Strong Q3 Results
BREAKING: Donlen and Wheels to Merge
Athene is the primary stakeholder in the new company. Athene Athene, an industry-leading financial services company, is now the new primary stakeholder in a merger between Wheels, Inc. and Donlen, LLC. The two companies represent a highly complementary merger and will allow a single entity to offer enhanced mobility solutions and products across some of… Continue reading BREAKING: Donlen and Wheels to Merge
Lyft Releases Safety Report
Over 99% of Lyft rides had no reported safety incidents, the study reports. Photo via www.quotecatalog.com/Flicker Between 2017 and 2019, Lyft received reports of over 4,000 instances of sexual assault on its ride-hailing platform, according to data in the company’s safety report. The incidents were reported directly to Lyft, brought to attention through law enforcement, or identified… Continue reading Lyft Releases Safety Report
Hertz Prepares for New Nasdaq Listing
The public offering should commence in Q4 2021. Hertz will trade under its old symbol HTZ. Photo via Enjosmith/Flickr. Hertz Global Holdings, Inc. announced on Oct. 15 that it has filed a registration statement with the U.S. Securities and Exchange Commission (SEC) relating to a proposed public offering of its common stock. The news comes shortly after the… Continue reading Hertz Prepares for New Nasdaq Listing
Kyte Raises $30 Million Series A Funding
With rapid expansion across the country, Kyte is eyeing a future of rental teleoperation and fully autonomous vehicle delivery. Photo: Kyte Kyte has announced a $30 million Series A funding round led by Park West Asset Management and Sterling Road. The on-demand car rental company launched in 2019 and is building infrastructure to support its goal of enabling teleoperation… Continue reading Kyte Raises $30 Million Series A Funding
Hertz Names Mark Fields Interim CEO; Paul Stone COO
Mark Fields, new interim CEO, Hertz Photo courtesy Hertz On Oct. 5, Hertz announced it has named Mark Fields interim CEO and Paul Stone president and chief operations officer. The news comes more than a year after former CEO Kathryn Marinello left the company. Effective immediately, Hertz says the new appointments are part of a vision for… Continue reading Hertz Names Mark Fields Interim CEO; Paul Stone COO
Kyte Brings its Car Service to Brooklyn
The service in Brooklyn launches on Oct. 1. Kyte also has redesigned and added new features to its iOS booking experience. Photo: Kyte On-demand, app-based car rental company Kyte is launching another location, this time bringing its service to Brooklyn, N.Y. The service that delivers cars to people’s doors also launched in Manhattan just four… Continue reading Kyte Brings its Car Service to Brooklyn
EVgo Boosts Fleet Services for its Charging Network
EVgo serves over 300,000 customer accounts including rideshare, autonomous, delivery, university, and other fleet clients. Photo: EVgo EVgo Inc. (NASDAQ: EVGO), a fleet electrification mover and owner-operator of the nation’s largest public fast charging network for electric vehicles (EVs), announced Sept. 23 the expansion of EVgo Fleet Charging Solutions with a new suite of services… Continue reading EVgo Boosts Fleet Services for its Charging Network
Xos, Cox Automotive Mobility Partner to Reuse Battery Packs
Cox Automotive Mobility, Spiers New Technologies, and Xos share a common mission in supporting practices that enable the extension of an EV battery’s life cycle. Photo: Spiers New Technologies Xos, Inc. (NASDAQ: XOS), a manufacturer of fully electric Class 5 to Class 8 commercial vehicles, announced Sept. 23 a strategic collaboration with Cox Automotive Mobility… Continue reading Xos, Cox Automotive Mobility Partner to Reuse Battery Packs