Rental Car Companies

Cuba orders 719 cars from China's BYD for tourist rentals

11:14 am U.S. ET | July 3, 2015

The Cuban government ordered 719 cars from China's BYD Co. which it will rent out to tourists in a deal that is a bright spot for Chinese automakers facing a weak export market....
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Waiting for a Volvo XC90? Rent an XC60 cheap

12:01 am U.S. ET | June 15, 2015

Committed buyers of the 7-passenger Volvo XC90 can ease their wait for delivery by choosing a new 5-seat XC60 from their Volvo dealer's inventory and renting it from Enterprise at a rate subsidized by Volvo....
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Ford gives EVs a boost in UK car-sharing program

May 27, 2015 12:38 CET

Ford has joined automakers including BMW and Daimler in offering electric cars for short-term hire as it expands its car-sharing projects to the UK. GoDrive, which will operate in London, offers access to 50 vehicles, half of them EVs, to drive for one-way journeys throughout the city....
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Hertz raises U.S. prices as fleet costs increase

5:16 pm U.S. ET | Dec. 23, 2014

Hertz Global Holdings raised prices for rental cars to be picked up January 1 or later. The stock had its biggest gain of the year, and Avis shares soared, too....
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Retired rentals ding prices

12:01 am U.S. ET | Dec. 15, 2014

The talk in remarketing circles has been about how the rising tide of off-lease vehicles will push used-car prices down. But more retired rental units are destined to hit the market next year, too....
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Car2Go poised to top 1-million users

Nov. 13, 2014 10:19 CET

Daimler's Car2Go car-sharing unit will have more than 1 million registered users by the end of the year, a company executive said, up from 900,000 now. The company aims to double penetration to 50 cities by 2016 with an emphasis on China....
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Avis Budget reduces exposure to used prices

12:01 am U.S. ET | Nov. 3, 2014

Avis Budget Group Inc. plans to reduce its exposure to falling used-vehicle prices by shifting more of the financial responsibility for remarketing its retired vehicles onto automakers....
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Impala the king of rental cars? No, not that Impala, GM says

12:01 am U.S. ET | Oct. 20, 2014

Since the stylish, redesigned Chevrolet Impala sedan rolled out in the spring of 2013, General Motors executives have been telling anyone who will listen that its days as a rental-lot staple are over. So this headline in The New York Times last week couldn't have gone over well at GM headquarters....
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Toyota tests car-sharing in French city

Oct. 16, 2014 10:08 CET

Toyota has launched its first car-sharing service outside Japan in the French city of Grenobles. Consumers can hire EVs using a smart phone app in a scheme that may be expanded to other cities after a three-year trial....
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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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