The settlement suspends litigation with debtors. Hertz agrees to pay $650 million and dispose of at least 182,521 leased vehicles by December 31.
The used car market has adopted a Swiss Army-knife approach to managing the “off-lease tsunami,” which turned into a manageable rising tide. Are new market dynamics breathing life into a segment left for a dead, the midsize sedan?
Sales into rental fleets are up in the first quarter, while residual values are softening. Are higher fleet costs and over fleeting on the horizon?
A significant part of the automotive value chain, Enterprise’s operations result in over 1 million used vehicles that become available for sale every year.
Enterprise Car Sales has joined the SiriusXM Pre-Owned Program, meaning that customers who purchase a used vehicle from an Enterprise Car Sales location will be offered a three-month subscription to SiriusXM’s All Access audio package, according to a company announcement.
The used-vehicle industry reached a record-breaking 39.2 million in sales in 2017, representing a 1.6% year-over-year increase, according to the latest Used Car Report from Edmunds.
Upon closer look at the registration, the owner discovered the vehicle was previously leased to Europcar Group U.K., and that it had multiple users.
iBidSmart has launched a new platform that allows rental car companies to auction wholesale inventory directly to dealers.
Depreciation trends for both car and truck segments are seasonally lower than what is normally expected this time of year, according to Black Book’s Oct. 23 Market Insights report.
The streak continued in July, with the Manheim Used Vehicle Value Index recording its third consecutive record in July. Driven by the 0.75% month-over-month increase in wholesale used-vehicle prices, the index rose 2.6% from a year ago to 130.1, according to the firm.