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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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Rental fleet sales plunged 40% year over year last month, but are still up so far in 2024.
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The global mobility company used its operational leasing model to build the domestic electric vehicle fleet of a major power provider.
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ICRS 2024: Bookings, rates, sales, upselling, technology, and smart fleet management all can widen the revenue stream when done right.
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Yearly sales figures for rental in 2024 will be at least 40% lower than those for 2019.
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ICRS 2024: Developing a big picture plan and strategy while tracking key metrics and managing small expenses can free up the profit pipeline.
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Sales of rental car fleets plummeted last month, sending the year-to-date total to a break-even point.
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Commercial, rental, and government fleets saw monthly sales decline again as 2024 totals are hovering close to 2023 levels.
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Rental fleets are propping up the overall upward trend in fleet vehicles sold so far this year.
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The total U.S. supply of available unsold new vehicles opened May at 51% above a year ago, but volume is still down 26% from 2019 levels.
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The share of new-vehicle sales from luxury brands drove up average transaction prices, when combined with fewer discounts and incentives, caused new vehicle affordability to fall.
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