The declining resale values of electric rental fleet vehicles and consumer reluctance is generating financial headwinds for the global car rental company.
The car rental giant is running into some realities about its electric vehicles prompting a "not so fast" approach to fleet electrification.
The company had record volume in the Americas with anticipated seasonal price improvements.
The owner of Enterprise Rent-A-Car draws $35 billion in revenue for fiscal year 2023 from its affiliates and businesses, including Enterprise Fleet Management.
Revenue soared to just over $1 billion, an increase of 24.4% over the second quarter of 2022, due to strong demand and a larger fleet.
A strong and increasing travel demand environment increases earnings power of the rental car conglomerate.
In the Americas segment, Hertz finished with 422,113 average vehicles in its fleet, a 21% gain over the second quarter of 2021, while depreciation per unit fell 36% to only $49 a vehicle.
Knighthead, Certares emerge as winners. Distribution of $8 a share “truly historic.” Stock soars 33%.
Franchise Services of North America (FSNA) has announced that it received a management cease trade order from the Alberta Securities Commission as a condition for failing to file its audited financial statements.
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