Commercial sales increased 10.3% in October, while sales to government agencies increased 1%. Sales into daily rental increased 0.2%.
Net income improved to $26 million and adjusted net income increased 84% to $46 million, or $0.57 per diluted share.
Mercedes-Benz has provided pricing for its three-tier subscription service, while Fiat Chrysler Automobiles will offer Jeep Wave that will also allow drivers to use a vehicle for a monthly fee across three levels similar to a short-term rental.
Off-lease vehicles from fleet consignors in the rental, commercial, and government sectors increased 2.3% in April from March and increased 5.8% from a year ago, according to analysis from KAR Auction Services.
Hertz Global Holdings’ monthly net per unit vehicle depreciation expense decreased 13% to $302 for its U.S. operations, during its first quarter of 2018.
All vehicles are Avis Certified — meaning they have passed a rigorous multi-point, bumper-to-bumper inspection process completed by certified mechanics, including ASE-Certified and ASE Master Technicians.
Mercedes-Benz USA’s online portal — MbonDemand.com — will now feature vehicles from Sixt Rent-a-Car, a move that will allow franchised and independent dealers to source Sixt off-rental vehicles, according to a company announcement.
Vehicle manufacturers sold 12.2% fewer cars, trucks, vans, and SUVs to rental, commercial, and government fleet buyers in April compared to a year ago in what has become a softening market for new vehicle sales.
Auctions in the Pacific Northwest and across the northern tier of the U.S. have seen a healthy influx of Canadian units over the past two years as a result of a softening economy in western Canada and a weak Canadian dollar.
Enterprise Holdings and Enterprise Fleet Management increased revenue 8.1% to $20.9 billion for the 2016 fiscal year for its rental and fleet management businesses, the privately-held company has announced.
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