Rental Car Companies

Automakers warm to the era of ride-sharing

12:01 am U.S. ET | Sept. 15, 2014
The rise of car-owning alternatives such as rental service Zipcar, and ride-summoning services including Uber and Lyft, is prompting automakers to embrace the idea that their mission is more about moving people than selling cars. Far from challenging the trend, they're rushing to capitalize on it....
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Hertz CEO exits under pressure

12:01 am U.S. ET | Sept. 15, 2014
Hertz CEO Mark Frissora, the former Tenneco chief who has led the rental car giant since 2006, resigned under pressure last week....
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Hertz reaches pact with Icahn to replace 3 directors

4:44 pm U.S. ET | Sept. 11, 2014
Hertz Global Holdings reached an agreement in principle with billionaire investor Carl Icahn to appoint three directors to the board of the rental-car company in place of current members....
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Hertz investors want Roger Penske on board, reports say

1:55 pm U.S. ET | Sept. 10, 2014
At least two big Hertz Global Holdings Inc. investors plan to meet this week with its new chairwoman to propose adding industry veteran Roger Penske to the board, people familiar with the plans said....
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Hertz CEO Frissora steps down amid shareholder pressure

9:17 am U.S. ET | Sept. 8, 2014
Hertz CEO Mark Frissora, who took the helm of the rental car giant after a successful stint as head of auto supplier Tenneco, stepped down today after investors pushed for his removal, citing accounting and operational missteps....
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Verizon to launch app for car sharing, rentals

12:01 am U.S. ET | Sept. 8, 2014
Wireless telecommunications giant Verizon today announced plans to introduce a new smartphone app that would allow rental car customers to unlock a vehicle....
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Dealership Buy/Sell

12:01 am U.S. ET | Sept. 1, 2014
Group 1 Automotive, Lithia Motors and others made acquisitions....
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RENTALS ROCKED

Costs add up as companies forced to park recalled vehicles

12:01 am U.S. ET | Aug. 25, 2014
Through July, the cost of the recalls to Avis Budget Group Inc. was at least an "eight-digit number," said CEO Ronald Nelson....
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Sixt says BMW car-sharing venture is profitable in most cities

Aug. 21, 2014 11:43 CET
Germany's Sixt said its DriveNow car-sharing venture with BMW is profitable in cities where it has been operating for more than a year as sign-ups exceed forecasts....
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Hertz investor presses board to replace CEO Frissora

3:49 pm U.S. ET | Aug. 20, 2014
Hertz investor Fir Tree Partners, which holds more than 3 percent of the stock, is urging the company's board to replace CEO Mark Frissora because the firm disapproves of how he's running the car-rental provider....
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Uber hires former Obama adviser Plouffe to counter opponents

12:19 am U.S. ET | Aug. 20, 2014
Uber Technologies, the popular mobile car-booking app, hired David Plouffe, a former top political adviser to President Obama, to help it cope with regulatory hurdles and mounting opposition from cabbies around the globe....
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THE GM RECALL

GM missed red flag from rental car firms on fatal crashes

12:23 pm U.S. ET | July 31, 2014
More than seven years before GM began the biggest wave of auto recalls in history, an investigator for Vanguard Car Rental contacted the carmaker about a fatal rollover crash in California. Vanguard wasn't alone. Records show Enterprise Holdings pressed the automaker about a potential Cobalt defect because airbags failed in routine crashes. Avis and Hertz also had Cobalts in their fleets that crashed....
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Millennials drawn to car-sharing services, but eventually, they buy

12:01 am U.S. ET | July 26, 2014
Car- and ride-sharing programs are changing the way city dwellers get around and the way millennials think about car ownership. Automakers have noticed and are experimenting with ways to adapt -- creating partnerships with car-sharing services or offering their own transportation services....
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Car-sharing rivals Uber, Lyft tussle over driver recruits

12:01 am U.S. ET | July 15, 2014
Uber and Lyft are racing to recruit drivers to spur the growth of their popular ride-sharing businesses. The rivalry for drivers is unfolding across the United States as both companies rush to expand services -- most recently in New York....
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Ford's vision extends beyond building cars

12:01 am U.S. ET | July 14, 2014
Ford Motor Co. Executive Chairman Bill Ford believes that global traffic congestion and new technologies will force automakers to think beyond their traditional role....
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Enterprise expands car-sharing business into Canada

6:23 pm U.S. ET | March 27, 2014
Enterprise Holdings’ Canadian subsidiary has purchased a car-sharing company in Toronto. Enterprise Rent-A-Car Canada’s acquisition of AutoShare CarSharing Network is the Canadian subsidiary’s first entry into the car-sharing business....
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BMW will expand car-sharing unit in Europe, U.S.

March 9, 2014 06:15 CET
BMW plans to expand its DriveNow car-sharing program to as many as 25 new cities to lure younger customers in Europe and the U.S....
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Global vehicle sales will likely peak in next decade, analysts say

12:01 am U.S. ET | March 1, 2014
The planet that Henry Ford put on wheels is poised for a stall. The world will reach "Peak Car" -- a point at which annual global sales growth will top out -- in the next decade, analysts predict....
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AUTOMOTIVE NEWS EUROPE E-MAGAZINE

What's next for car sharing?

Feb. 7, 2014 06:15 CET
Car sharing in Europe went mainstream in 2013 as consumer awareness snowballed and more global automakers joined the sector....
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Report: Every shared car means 32 lost sales

4:41 pm U.S. ET | Feb. 4, 2014
Each vehicle in the Zipcar or car2go car-sharing fleet means 32 lost vehicle sales, according to a report from consulting firm AlixPartners. The report, based on a survey of 2,000 adult car-sharing customers, also said Americans would have bought 500,000 new or used vehicles since 2006 if not for access to car-sharing services, a total that could grow to 1.2 million by 2020....
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Chevy offers free Impala weekend drives for National renters

12:01 am U.S. ET | Feb. 1, 2014
Chevrolet is offering members of National Car Rental's frequent renters clubs who recently rented 2014 Chevrolet Impalas a weekend of seat time in another Impala for free....
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2014 AUTOMOTIVE NEWS WORLD CONGRESS

Ford COO expects millennials to fuel era of auto growth

12:01 am U.S. ET | Jan. 20, 2014
Driven by the rise of the millennial generation and a global growth boom, the auto industry is in the midst of a new golden age, Mark Fields, Ford Motor Co. COO, said in a speech at the Automotive News World Congress....
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Carl Icahn buys up to 40 million shares of Hertz, report says

3:00 pm U.S. ET | Jan. 3, 2014
Longtime Wall Street investor Carl Icahn bought as many as 40 million shares of stock in rental car giant Hertz Global Holdings Inc., CNBC reported today....
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Hertz shares jump after board adopts 'poison pill' stock plan

8:42 am U.S. ET | Jan. 1, 2014
Hertz Global Holdings rose to a record high after the largest publicly traded rental-car company said it adopted a so-called poison pill upon seeing “unusual and substantial activity” in its stock....
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How self-driving cars could transform the rental market

12:01 am U.S. ET | Nov. 4, 2013
Self-driving vehicle technology could one day give new meaning to Enterprise Rent-A-Car's "We'll Pick You Up" tag line....
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