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LOR overall continues to trend downward, but ongoing market and economic conditions could affect future results while the industry deals with staffing and productivity challenges.
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Commercial fleet sales from nine manufacturers totaled 24,923 in April 2020, representing a 66.5% year-over-year decrease, driven heavily by the impact of the COVID-19 pandemic.
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Europcar has received state guaranteed loans from Spain and France.
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The founder of a car rental marketplace serving UAE shares the lessons he is learning from the COVID-19 pandemic, and what he believes the car rental industry in general can learn too.
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This ad for Saunders Drive it Yourself, believed to be the first car rental company in the U.S., was recently found in an Omaha phone book from 1926.
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This ad for Saunders Drive it Yourself, believed to be the first car rental company in the U.S., was recently found in an Omaha phone book from 1926.
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The site links to the additional measures enacted by major car rental companies in response to the coronavirus pandemic.
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The company has laid off or furloughed 21,000 employees as a result of the coronavirus pandemic. April revenue is trending down 80% from the prior year. Similar trends are expected in May, but the company “expects a gradual recovery thereafter.”
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The American Car Rental Association is working on a program to reduce debt or fleet sizes, encourage MAG relief at airports, liability protection, and a tax credit for travel purchases.
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The layoffs affect workers in Missouri with the Enterprise Rent-A-Car, National Car Rental and Alamo Rent A Car brands, as well as Enterprise Fleet Management.
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Thuan Pham's resignation comes as the company is reportedly poised lay off 20% of its staff.
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