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Overall Light-Vehicle Sales Down in May but Expected to Rise
The COVID-19 pandemic is still plaguing the light vehicle market, but May’s sales pace is still expected to be a giant step forward on the path to recovery.
The COVID-19 pandemic is still plaguing the light vehicle market, but May’s sales pace is still expected to be a giant step forward on the path to recovery.
The loss will cost Icahn an estimated $1.6 billion.
The bankruptcy petition lists liabilities of $500 million to $1 billion with estimated assets of $100 million to $500 million.
Contactless agreements are a simple and effective way for businesses to continue to service customers during the coronavirus pandemic.
The company reports an over 200% rise in enquiries from rental companies in North America and Europe.
All of Hertz's businesses globally remain open. International operating regions including Europe, Australia, and New Zealand are not included in the bankruptcy, nor are Hertz's franchised locations.
While AAA will not issue a Memorial Day travel forecast, the association predicts few people will hit the road.
For those needing to travel, using a car is a safe bet, and renting one is a safer alternative to public transit.
Sixt reports that business has already returned to pre-pandemic levels in German urban locations. In response the company is expanding carsharing and subscription programs as an alternative to public transport.
According to Manheim, wholesale used vehicle prices increased 5.74% in the first 15 days of May compared to the month of April. New and used retail vehicle sales show substantial gains from March’s free fall.