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Surprice Opens Two Rental Branches In Japan
The launch highlights the global car rental operation’s growing presence in Asia.
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SEARCHMENUSEARCHThe launch highlights the global car rental operation’s growing presence in Asia.
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The fast-moving merger of digital and smart technologies is leading to more accurate vehicle inspections, thereby reducing liability, disputes, and losses for remarketing and rental car businesses.
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Analysis: The actions of the UAW will reverberate through the larger auto business, but nowhere near what was experienced in April 2020. Sales into fleet could suffer in 4Q if a strike is wide and persists. Rental car companies may return to the used car market like they did in 2021 and 2022, driving prices higher.
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With sales slightly stronger than expected, tight supply, and prices at about 6% below last year, these factors are expected to prevent any substantial decline in wholesale prices through year-end.
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The number of used vehicles for sale had been increasing after hitting a low point in March but that increase in inventory stalled in mid-July and into August, as sales unexpectedly picked up.
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The United Auto Workers contract with the Detroit Big 3 automakers expires Sept. 14 as new inventory remains 68% above last year's level.
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U.S. fleet sales for August were strong and reached levels for the month not seen since 2019.
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The conversion rate indicates that the first 15 days of August saw buyers with more bargaining power for this time of year.
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All large manufacturers showed gains in fleet over last year, with combined sales into large rental, commercial, and government fleets improving.
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Overall engagement with the International Automotive Remarketers Alliance has risen across the board in the final stretch before its annual conference.
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Analysis: An increase in one-off moves, overall wholesale industry growth, and OEM production increases are driving prices higher versus pre-pandemic levels.
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