The order requires all new passenger vehicles to be zero-emission in 15 years, though it would not prevent Californians from owning gasoline-powered cars or selling them on the used car market.
This could be car rental’s time for subscriptions — or another noble experiment.
“There is always opportunity amidst chaos,” says Solomon Cramer, licensee owner of Budget Rent a Car of Harrisburg. “You just have to find it.”
Lyft gets a ready supply of vehicles while Sixt gets an alternative outlet for its fleet — yet this partnership’s potential long-term evolution could be the true art in this deal.
This startup car rental platform has grown 20% to 40% month-on-month since the beginning of the COVID-19 pandemic with partners’ fleets and an app-based delivery model.
An imbalance of cars and the high cost to move them to where they’re needed, rentals booked for low rates in April, and higher incidences of fraud and damage plague the shift to local rentals during the COVID-19 pandemic.
Advantage has suffered three bankruptcies and ping-ponged from five ownership groups with wildly divergent goals. Yet a slimmed down Advantage under entrepreneurial ownership just might have a chance.
Bankruptcy proceedings can impact franchise contracts, fleet payments, and corporate accounts. When the dust settles, Hertz 2.0 will have ripples beyond the franchisees.
During the pandemic slowdown, Tom Mellett has been trading the car rental desk for his single-engine plane: “It gives me time to reflect on what we should be grateful for.”
The outcome may not be as negative as feared, but there’s a greater issue for car rental companies in all this.
With talk of a Hertz bankruptcy and federal bailouts still pending, where are the green shoots of a recovery for car rental, and who is best poised to take advantage?
Through his marketing campaigns, government relations, and ability to manage a powerful group of franchisees, the former Budget CEO is credited with propelling the brand “into the major league of car rental.”
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.
The ruling stems from a 2018 lawsuit regarding Turo’s San Francisco International Airport (SFO) operations and the collection of the airport’s permit fees.
On the road to recovery, car rental operators can look to signposts in both demand and supply. Regarding wholesale fleet values, it’s going to get worse before it gets better.