Used Vehicle Supply Closes Out at High Point for 2023
For the full year, Cox Automotive estimates sales for used retail were down about 3%, curtailed by a constrained supply of newly used vehicles in the market.
For the full year, Cox Automotive estimates sales for used retail were down about 3%, curtailed by a constrained supply of newly used vehicles in the market.
The business will first operate as Green Motion in Bogota, Cali, Medellin, and Cartagena, supporting the international airports and downtown locations.
The global auto rental provider and Detroit OEM will apply enhanced technology to improve rental car operations at customer locations.
The American Car Rental Association chose a franchise and operations manager with more than 30 years of experience to fill a vacant seat.
In another high profile indicator of consumer EV skepticism, the auto rental giant will sell off the EVs to avoid further financial losses.
The new branch is global auto rental company's first branch in Utah and will serve the nearly 25 million annual passengers to Salt Lake City International Airport.
The inspection technology closely combs a car’s exterior during the check-in and check-out process and generates a complete damage report within seconds.
Manheim expects constrained growth with a volume increase of less than 1% in 2024, indicating a return to a more normal market.
The annual compendium of stats, info, trends and tidbits points to renewed business activity across the car rental industry.
The end-of-year tallies show a healthy 28% annual increase across commercial, rental, and government fleet sectors.
The product leverages artificial intelligence and computer vision technology to provide a virtual overlay of any exterior damage detected on a vehicle, making it easier to spot hail, paint peel, detached panels, broken lights, rust, scratches, dents and cracks.
While rental car companies continued to grow business in 2023, the rate of increase since the pandemic is easing back to normal levels.
EV inventory is stacking up on dealer lots as consumers spooked by high prices and sparse charging stations second-guess or resist buying them.
The total U.S. supply of available unsold new vehicles in November climbed 57%, or 925,000 units, from the same time a year ago.
The car rental provider will become certified in the highest automobile-focused safety standards that complement its luxury travel services.
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