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Avis Grows Direct-to-Consumer Sales, Financing
As part of an ongoing expansion, the Avis Budget Group Inc. recently announced it had enrolled a total of more than 3,000 U.S. dealerships, in 19 states, to participate in Avis Direct, its relatively...
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FCA’s $350MM Securitization Shows ‘Structural Changes’
Flagship Credit Acceptance LLC (FCA) is preparing an asset-backed securitization worth $350 million in a transaction set to close on May 5. The notes are backed by subprime auto loan receivables,...
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Car Harmony to Expand Used-Car Offerings
Online used-car seller Car Harmony is expanding its “breadth of offering” by listing wholesale vehicles, provided by one of its current partnered rental companies, on CarHarmony.com, said Craig...
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China Rideshare Didi Plans to Expand Into Carsharing
Courtesy of Didi Chuxin Didi Chuxing, China’s ridesharing behemoth, plans to expand into other mobility services including car-sharing, Cheng Wei, the founder and chief executive, said at China’s...
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Roadblocks Ahead for Consumer-Owned AV Adoption, Execs Say
LAS VEGAS — While autonomous vehicle fleets are sparking widespread interest in the industry, executives at an SFIG 2019 panel said widespread adoption of consumer-owned AVs is still at least a decade...
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Will Ride-Hailing Replace Personally-Owned Cars? Execs Weigh In
LAS VEGAS — The disruptive impact that ride-hailing companies are having on auto finance is evident with the success of Uber and Lyft. While both companies are not profitable, Uber 's revenue surged...
View ArticleWill Ride-Hailing Replace Personally-Owned Cars? Execs Weigh In
LAS VEGAS — The disruptive impact that ride-hailing companies are having on auto finance is evident with the success of Uber and Lyft. While both companies are not profitable, Uber ‘s revenue surged...
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US auto sales poised for crash after slowest pace in a decade
Carmakers gave an early glimpse of the damage a global pandemic is doing to the U.S. auto market, with General Motors Co. and Fiat Chrysler Automobiles NV falling short of estimates and the industry...
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Hertz and Avis cancel orders in setback for ailing carmakers
Rental-car companies struggling to survive the coronavirus pandemic’s catastrophic blow to their business have been working with automakers to call off purchases, in some cases even redirecting...
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Inventory woes ease as supply builds
New- and used-vehicle inventory is on pace to normalize after months of constricted volume as a result of coronavirus-spurred halts in production, pent-up demand and aggressive new-vehicle incentive...
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Avis grows rental fleet 40% YoY in Q4 by leveraging OEM relationships
Avis Budget Group increased its fleet size in the fourth quarter of 2021 by purchasing new vehicles from OEMs as other rental companies have turned to the used market to top off their fleets amid...
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Rental car companies shake up used-vehicle market as demand resumes
If you were to rent a car today, your options are more limited and the price you pay more closely resembles a car payment than a rental fee. Rental car companies have contributed to increasing...
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Rental car companies continue used-market shakeup in Q1
Rental car companies are still contributing to used-vehicle value fluctuation as they turn to the used-car market to stock their fleets as more consumers return to travel. Avis’ U.S.-based average...
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AmeriDrive begins purchasing vehicles for HyreCar platform
Mobility-as-a-service company AmeriDrive Holdings has begun purchasing vehicles to list on the HyreCar platform following the September closing of a $100 million revolving asset-backed line of credit...
View ArticleRental companies offload high-mileage units amid tight OEM supply
Rental fleet companies are offloading older, higher-mileage vehicles as they work to meet demand and as manufacturers’ sales of new vehicles into fleets pick up but remain limited. Demand for rental...
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