While the U.S. car rental market hit a new revenue record of $30 billion in 2018, there are a few items on the industry’s “to-do list” to best position itself for the future of transportation.
The Port and the airport authority agreed that the $3.50 rental fee per vehicle is a tax and is subject to voter approval.
For the second quarter 2018, total revenues were $2.4 billion, a 7% increase versus the second quarter 2017.
County commissioners expect the assessment fee to generate $5,000 per month.
In the first quarter of 2018, Hertz Global Holdings reported total revenues of $2.1 billion and decreased net loss by 9% based on an increase in transaction days, a decrease in per-unit depreciation expense, and an increase in pricing excluding ride-hailing rentals.
Revenue growth was driven by a 5% increase in total rental days and strong pricing.
Certify's annual review of business expense trends shows that car rental represented 25% of overall transaction volume in ground transportation in 2017. National Car Rental was the most expensed and top-rated brand in 2017, according to Certify data.
This revenue was achieved on a smaller overall U.S. fleet size, which translates into record high revenue per unit, per month.
For the third quarter 2017, Hertz Global Holdings Inc. has reported its total revenues as $2.6 billion, a 1% increase year-over-year. CEO Kathryn Marinello is encouraged by Hertz’s process but admits the company still has a lot of work ahead.
Avis Budget Group has reported revenue of $2.8 billion for its third quarter 2017, a company record. Due to the impact of the hurricanes, the company lowered its full-year earnings forecast.
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