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With Hyundai’s South Korean strike creating uncertainty for 2027-model-year deliveries, Mike Muehlenfeld of Walser Automotive Group says rental operators are maintaining normal purchasing levels and generating strong returns at disposal.
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Despite elevated vehicle prices, soaring interest rates and high inflation, there are no signs that demand is falling off yet.
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September marks a record 16th straight month that new-vehicle ATPs were higher than the average manufacturer’s suggested retail price (MSRP).
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The U.K.-based green rental operator announces closing acquisition of the U-Save franchise business, making Green Motion the largest rental franchise organization.
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Combined sales into large rental, commercial, and government fleets were up 14.6% year over year in August.
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Elektros, an electric transportation company, has scheduled delivery of its first Tesla Model 3 vehicles at its rental operations in South Florida.
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The drawn-out vehicle shortage is producing a domino effect of issues for many fleet segments, says Cox Automotive’s Jonathan Smoke, but a potential recession may have a silver lining — if we even have one at all.
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Arriving in dealerships later this year, the 2023 Toyota Crown essentially replaces the Avalon, launching with a new design, two hybrid powertrain options, and standard AWD.
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According to data from Kelley Blue Book, the average transaction price (ATP) for a new vehicle surpassed the $48,000 mark in June, the highest ATP on record.
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With more than 450,000 vehicles available to rent, 44% of Free2move’s bookings are for a duration of one week or more.
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The first-half total of 341,983 units marks the lowest rental fleet sales in at least 20 years — easily eclipsing the nadir of 788,349 units in H1 2011 as the industry dug out of the Great Recession.
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