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In another high profile indicator of consumer EV skepticism, the auto rental giant will sell off the EVs to avoid further financial losses.
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The new branch is global auto rental company's first branch in Utah and will serve the nearly 25 million annual passengers to Salt Lake City International Airport.
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The inspection technology closely combs a car’s exterior during the check-in and check-out process and generates a complete damage report within seconds.
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Manheim expects constrained growth with a volume increase of less than 1% in 2024, indicating a return to a more normal market.
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The annual compendium of stats, info, trends and tidbits points to renewed business activity across the car rental industry.
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The end-of-year tallies show a healthy 28% annual increase across commercial, rental, and government fleet sectors.
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The product leverages artificial intelligence and computer vision technology to provide a virtual overlay of any exterior damage detected on a vehicle, making it easier to spot hail, paint peel, detached panels, broken lights, rust, scratches, dents and cracks.
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While rental car companies continued to grow business in 2023, the rate of increase since the pandemic is easing back to normal levels.
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EV inventory is stacking up on dealer lots as consumers spooked by high prices and sparse charging stations second-guess or resist buying them.
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The total U.S. supply of available unsold new vehicles in November climbed 57%, or 925,000 units, from the same time a year ago.
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