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According to data released by Auto Rental News, total revenue from car rental operations in the U.S. is projected to reach a record $28.43 billion in 2016, a nearly 5% gain in revenue compared to the previous year.
This revenue represents U.S. corporate, franchised, and independent locations.
The number of rental cars in service averaged 2.31 million in 2016, a 6% gain over the previous year, which translates into an average revenue-per-unit, per-month of $1,024. New vehicle sales into rental fleets in 2016 are projected to reach 1.84 million vehicles.