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Bobit Business Media Sold to Gemspring Capital

Bobit Business Media Sold to Gemspring Capital

Bobit Business Media has been acquired by Gemspring Capital, a middle-market private equity firm. Bobit, which bought HDT in 2012, was founded by Ed Bobit in 1961 with Automotive Fleet and today is a successful business-to-business media company in the fleet, transportation, beauty, and law enforcement industries.

November 26, 2018

Hertz Closes Q3 with $2.8B Revenue
Avis Grows Q3 Revenue to $2.8B

Avis Grows Q3 Revenue to $2.8B

Revenues grew to a record $2.8 billion in the third quarter on both higher volume and increased underlying pricing in the Americas.

November 5, 2018

Commercial Fleet Sales Increased 10.3% in October
Hertz Appoints New Chief Financial Officer

Hertz Appoints New Chief Financial Officer

In the interim period prior to Jamere Jackson formally joining Hertz, Robin Kramer, currently Hertz's senior vice president and chief accounting officer, will assume the additional role of acting CFO effective immediately.

August 20, 2018

Cox Automotive Expands Mobility Services

Cox Automotive Expands Mobility Services

Cox Automotive has established a new mobility services unit that combines existing businesses, such as its Flexdrive subscription service, with its acquisition of Clutch Technologies' subscription software platform to deliver fleet management solutions for mobility fleets, the company has announced.

August 13, 2018

Avis Grows Revenue 4% in Q2

Avis Grows Revenue 4% in Q2

Net income improved to $26 million and adjusted net income increased 84% to $46 million, or $0.57 per diluted share.

August 7, 2018

Hertz Reports $2.4B Q2 Revenue

Hertz Reports $2.4B Q2 Revenue

For the second quarter 2018, total revenues were $2.4 billion, a 7% increase versus the second quarter 2017.

August 6, 2018

Mercedes-Benz, FCA Set Three Tiers for Subscription Services

Mercedes-Benz, FCA Set Three Tiers for Subscription Services

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.

June 6, 2018

Avis Grows Revenue 7%, Record $2 Billion in Q1

Subaru Offers VIN Lookup Tool

Subaru has begun offering an online tool that allows fleets to search for open recalls using the vehicle identification number through the Carfax used vehicle platform. The service is offered at no cost.

April 23, 2018

Vehicle Dependability Improves 9%: J.D. Power

Vehicle Dependability Improves 9%: J.D. Power

Buick and Lexus ranked highest in overall vehicle dependability, which improved 9% overall in the past year, according to J.D. Power's annual Vehicle Dependability Study. Fleets using a three-year replacement model may benefit from higher resale prices.

February 14, 2018

Enterprise Holdings Honors Auto Auction Partners
Hertz Q3 Revenue Rises Slightly

Hertz Q3 Revenue Rises Slightly

For the third quarter 2017, Hertz Global Holdings Inc. has reported its total revenues as $2.6 billion, a 1% increase year-over-year. CEO Kathryn Marinello is encouraged by Hertz’s process but admits the company still has a lot of work ahead.

November 9, 2017

Hurricane Irma Could Wipe out 400,000 Vehicles

Hurricane Irma Could Wipe out 400,000 Vehicles

As many as 400,000 vehicles in Florida will need to be replaced as a result of Hurricane Irma, including as many as 11,000 fleet vehicles, according to Cox Automotive.

September 13, 2017