Automotive

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Cox Automotive Adds Vehicle Options Adjustments to MMR

MMR values have been based on year-make-model-trim data, with additional manual adjustments available for mileage, region, condition and color. However, a vehicle’s specific options and packages can boost or diminish its value compared to the typical configuration. The widely used wholesale vehicle valuation tool, Manheim Market Report (MMR), now includes automatic adjustments […]

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Carwiz Capitalizes on Armenian Visitor Boom

Automotive / By Ann Ann

The car rental market in Armenia has also been growing rapidly, with increasing demand from both international tourists and locals. Photo: Carwiz International Carwiz International is moving rental car operations into Armenia to capitalize on the country’s growing tourism industry, the company announced this week. Armenia has been experiencing a significant boom

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Car Sharing Platforms Grow Across North America

Automotive / By Ann Ann

A remarkable trend in the U.S. market is the trials of tele-operated car sharing. Las Vegas has seen the introduction of the first tele-operated car sharing services like Halo. The North American car sharing market in the US, Canada, and Mexico counts at least 70 operators today, according to a new white

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Global Business Travel Industry Spending Ready to Hit Record $1.48 Trillion in 2024

Automotive / By Ann Ann

The forecast for 2024 predicts global business travel spending will reach $1.48 trillion by the end of the year, an increase on 2019 spending which was a previous record at $1.43 trillion. Boosted by economic stability, pent-up demand and recovery momentum, business travel spending is projected to surpass $2 trillion by 2028,

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SIXT Opens Branch at Houston's Smaller Airport

Automotive / By Ann Ann

The SIXT team at the William P. Hobby Airport in Houston marks the opening of the global auto rental company’s newest outlet. SIXT USA recently opened its newest car rental branch along the main thoroughfare entering William P. Hobby Airport (HOU) in Houston, which served 14 million passengers in 2023. The rental

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The ACRA Approach: Educate, Advocate, Boost Profits

Automotive / By Ann Ann

ACRA president Sharky Laguana urges attendees at the International Car Rental Show on April 16 to help advocate for legislation and regulator rollbacks that can spare rental car operators unnecessary business costs. Photo: Ross Stewart / Stewart Digital Media As the American Car Rental Association prepares for another legislative conference in Washington,

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Taking a Practical Line on EV Potential

Automotive / By Ann Ann

Stephanie Valdez Streaty, director of industry insights at Cox Automotive, and ACRA president Sharky Laguana walked through the latest electric vehicle data and coming advances during a presentation at the 2024 International Car Rental Show in Las Vegas. Photo: Ross Stewart / Stewart Digital Media While electric vehicles are facing some serious

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York Car Rental Opens New Franchise in Guatemala

Automotive / By Ann Ann

York’s new facility in Guatemala City offers a variety of vehicles ranging from economical cars to luxury SUVs. York Car Rental, a discounted rental car company, has opened a new branch in Guatemala, offering a range of vehicles to meet the diverse needs of travelers and residents alike. Located in the heart

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Overall Wholesale Auction Volumes Rise Through June

Automotive / By Ann Ann

Total sales over the first six months of the year reached 3.41 million units, an 8% increase compared to 2023’s YTD total. AuctionNet wholesale vehicle auction sales came at about 522,000 vehicles in June, up a small 1.4% versus June 2023 but down nearly 14% from May 2024, according to data released

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Hertz Names Roster of New Execs

Automotive / By Ann Ann

The Hertz Corporation is one of the largest worldwide vehicle rental companies, and the Hertz brand, which has 27,000 employees worldwide, is one of the most recognized globally. In a continuing executive shakeup and pivot for Hertz, the global rental car company announced a team of new executives on July 8 who

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