Car Rental News |
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31/May/2011 Avis Budget Group Enhances Booking ToolAvis Budget Group, Inc. unveiled an enhanced version of its Web-based booking tool for travel professionals located in Latin America and the Caribbean. Starting in June, the new site will allow agents to issue paperless, prepaid vouchers for Avis and Budget car rentals worldwide. Until now, Latin America-based travel professionals used a booking tool to make reservations and a separate system to issue paper vouchers that customers were required to present at the rental counter at the time of vehicle pickup.
30/May/2011 Safeco Field Auto Rental Tax Bill Voted Down - UpdateNo amendments were added to the bill before the midnight deadline on Wednesday. Car rental taxes will not be extended. A proposal to extend some taxes on car rentals, hotels and restaurants that would pay off Safeco Field in Seattle failed in the state Senate on May 19. Senate Bill 5958 failed by a single vote. 29/May/2011 New Alamo Rent A Car Branch to Serve Newark Liberty International AirportAlamo Rent A Car, the largest car rental provider to international customers visiting North America, announced the opening of a new branch serving customers at the Newark Liberty International Airport. The new branch will be the first Alamo location serving a New York City area airport in nearly 10 years. "We are pleased to be offering Alamo's low rental rates and convenient services to travelers arriving in the New Jersey and New York City areas from all over the world," said Jason Altman, vice president of airports for Alamo Rent A Car in New York and New Jersey. "Alamo consistently delivers a simple, no-hassle process for renting vehicles to get our customers on the road to their destinations quickly and easily." 28/May/2011 Hertz Renews Distribution Agreement with SabreThe Hertz Corporation has renewed its distribution agreement with Sabre Travel Network, providing Sabre Connected travel agents with continued access to the rental car company's inventory from over 8,000 locations worldwide.
The Sabre global distribution system (GDS) drives more than $2 billion in car rental revenue each year and provides travel agents worldwide with access to content from a variety of suppliers including airlines, cars, hotels, cruise lines, tour operators and more. 27/May/2011 Dollar Thrifty Adopts Shareholder Rights PlanDollar Thrifty Automotive Group, Inc. today announced in a press statement that its Board of Directors has adopted a Shareholder Rights Plan under which Dollar Thrifty shareholders will receive rights to purchase shares of a new series of preferred stock in certain circumstances. The Rights Plan was adopted to deter any attempt to obtain control of the company in a manner or on terms that are not in the best interests of the Company and all shareholders.
26/May/2011 Avis Budget Group and MGM Resorts Ink DealAvis Budget Group, Inc. and MGM Resorts International have entered into an agreement for Avis Rent A Car and Budget Rent A Car to become the exclusive car rental partners of M life, MGM Resorts' recently launched loyalty program, and provide on-site vehicle rental services with Avis at select MGM Resorts' properties in Las Vegas.
Under the multi-year agreement, Avis will become the car rental supplier at 13 MGM Resorts' properties to provide convenient, on-site access to quality vehicles for resort guests. In addition, M life members will enjoy special rates and offers from Avis. 25/May/2011 Europcar Launches “Privilege” Loyalty ProgramEuropcar, a vehicle hire company in the UK, brings travelers good rates with the launch of Privilege, its new loyalty program. Membership is free, allowing frequent hirers to benefit from tailor made discounts, including up to 30 percent off all leisure rentals.
Privilege provides members with crucial time-saving benefits. It eliminates queuing and paperwork and guarantees reservations. Plus, Privilege members have access to discounts from other premium services from Europcar partners, offering loyal customers the ultimate reward scheme. 24/May/2011 Texas CDW Legislation DefeatedThe Truck Renting and Leasing Association has released this bulletin regarding the defeat of Texas HB 3059: Texas legislation that would have imposed some unnecessarily strict requirements on vehicle rental companies that sell Collision Damage Waivers (CDWs) as part of vehicle rental contracts has been defeated by TRALA. Texas HB 3059 would have regulated the form used and the price that vehicle rental companies could charge when selling CDWs. It would have also required CDWs to be underwritten, which would have essentially treated CDWs as an insurance product and required higher licensing standards for vehicle rental company employees that sell CDWs. 23/May/2011 Airport Car Rental Service Center Almost CompletedConstruction of a consolidated car washing and fueling facility for car rental concessionaires is near completion at Billings Logan International Airport in Billings, MT, according to a Billings Gazette article. A "customer facility charge" of $3 a day will be collected by the rental car agencies at the airport. This charge will pay for the project which is being financed by a $6.5 million revenue bond. 22/May/2011 Sixt to Partner with Avis for Dollar Thrifty?Sixt Group is in talks with Avis Budget Group in regards to Avis' possible merger with Dollar Thrifty Automotive Group, according to the New York Post. Sixt would apparently take $300 to $400 million in annual business to facilitate regulatory approval with the Federal Trade Commission, according to the report.
21/May/2011 Zipcar Reports 2011 First Quarter ResultsZipcar, Inc. the world's largest car sharing network, reported results this week for the first quarter ended March 31, 2011."We are delighted to report strong financial results in our first quarter as a public company," said Scott Griffith, Chairman and CEO. "During the first quarter, we continued to generate significant financial momentum organically, highlighted by gains in our membership base, which contributed to solid revenue growth and enhanced profitability in our Established Markets. At the same time, we began the integration of Streetcar in the U.K. after receiving final regulatory approval in December. With our improved financial position following the IPO, we are excited to lead the growth of the global car sharing market on the strength of our brand, network of cities and vehicles, proprietary technology and expertise based on more than 10 million reservations." 20/May/2011 Hertz and Dollar Thrifty Agree to Cooperate in Pursuit of FTC ClearanceIn separate statements issued this week, both Hertz Global Holdings, Inc. and Dollar Thrifty Automotive Group, Inc. have announced that they have agreed to cooperate with respect to Hertz's efforts to pursue antitrust regulatory clearance of its proposed acquisition of Dollar Thrifty.
Hertz reiterated in the statement that it is committed to working expeditiously with the FTC and Dollar Thrifty to obtain antitrust clearance. To this end, Hertz is engaged in discussions with the FTC and has commenced a process for the divestiture of its Advantage brand. 19/May/2011 Toyota to Boost North American Production Earlier Than ExpectedERLANGER, Ky. (May 11, 2011) - Toyota Motor Engineering & Manufacturing North America, Inc. (TEMA) will boost production earlier than expected following the March 11 earthquake and tsunami in Japan. Beginning in June, overall North American production will reach approximately 70 percent of normal levels, up from approximately 30 percent in May. The improvement in parts availability from Japan is the result of countermeasure activities implemented by affected suppliers. Toyota will continue to evaluate production model-by-model on a monthly basis, with a goal to return to fully normalized production by late this year. 18/May/2011 National Car Rental Launches "Tales From The Road" Facebook ContestST. LOUIS, MO--(Marketwire - May 4, 2011) - National Car Rental is encouraging business and frequent travelers to share their best travel stories through its new "Tales From The Road" Facebook contest. The contest's first of three rounds, titled "How do you go like a pro?," launched May 2. National will award winners numerous travel-related prizes, culminating with a grand prize offering of Executive Elite status for life in National's award-winning loyalty program, the Emerald Club, and up to 350,000 airlines miles.
Business travelers now have the opportunity to compete in three "Tales From The Road" contests. Each contest requires travelers to answer one of the following three questions through National's Facebook channel: 17/May/2011 Enterprise Implements Program to Recycle Used Motor OilWICHITA, Kan., May 9, 2011 /PRNewswire/ -- In a business alliance that promises to conserve finite natural resources and safeguard the environment, Universal Lubricants and Enterprise Holdings have come together to close the car care loop. Through its regional subsidiaries, Enterprise Holdings operates the Alamo Rent A Car, Enterprise Rent-A-Car and National Car Rental brands. Beginning at Enterprise's airport service centers in five states, Universal Lubricants will collect the spent motor oil of Alamo, Enterprise and National vehicles and proceed to re-refine the waste fluid, thereby transforming what was once unwanted discharge into its American Petroleum Institute (API) certified ECO ULTRA® high performance motor oil. That green motor oil will then circle back into Enterprise cars and light trucks in those markets, completing a self-sustaining cycle that will repeat itself over and over and over again.
16/May/2011 Wholesale Prices Stay Near Record LevelsTom Kontos of ADESA presents his monthly analysis of the wholesale used vehicle market for April: Summary Average wholesale prices remained at near-record levels in April, as concerns about new vehicle supply disruptions and high gasoline prices continued to add to the existing tight-supply/high-demand dynamic in place in the used vehicle market since mid-2009. Moreover, new vehicle incentives were down considerably in April, giving used vehicle prices even more upside support. 15/May/2011 Hertz Submits New Bid for Dollar ThriftyHertz Global Holdings Inc. today made a new offer to buy Dollar Thrifty Automotive Group for an equity value of $2.2 billion, according to Hertz. The offer is for $72 total per share based Hertz's May 6 stock price. Hertz said it will divest discount brand Advantage to gain FTC clearance.
A previous offer by Hertz for Dollar Thrifty was rejected by Dollar Thrifty shareholders in September. That deal was valued at about $51 a share. Hertz said its latest offer is a 26 percent premium to Dollar Thrifty's 90-day average share price. 14/May/2011 Hertz Names John Holt Leader of Advantage Rent A CarPARK RIDGE, NJ -- (MARKET WIRE) -- 05/06/2011 -- The Hertz Corporation and Advantage Rent A Car today announced that John Holt has been appointed Vice President, Advantage Rent A Car, effective immediately, and reporting to the Company's Chairman and Chief Executive Officer, Mark P. Frissora. Holt succeeds Lois Boyd who was appointed to lead Hertz's equipment rental business on April 25, 2011.
13/May/2011 Hertz Installs EVs in NYC Car Sharing ClubPARK RIDGE, NJ -- (MARKET WIRE) -- 05/05/2011 -- As part of its Global Electric Vehicle (EV) expansion throughout New York City, Connect by Hertz, Hertz's global car sharing club, the first car sharing club to introduce the 100% electric Nissan LEAFTM in Manhattan, is bringing the LEAF to Manhattan's Seward Park Co-op. To celebrate the introduction of the Nissan LEAF, a formal unveiling, attended by Speaker of the New York State Assembly, Sheldon Silver, will be held at Seward Park (413 Grand St in Manhattan) on Friday, May 6 at 12 noon.
12/May/2011 Enterprise Holdings Hosts Fourth Annual Clean Car ChampionshipORLANDO, FL--(Marketwire - May 5, 2011) - Enterprise Holdings hosted its fourth annual Clean Car Championship May 5 in Orlando, pitting some of the best and fastest car cleaners in the country against one another. Six rental car service agents representing the Alamo Rent A Car, Enterprise Rent-A-Car and National Car Rental brands competed from airports across North America. Andre Goods of Philadelphia was declared the 2011 Clean Car Champion and winner of the gold medal and a $1,000 grand prize.
"The Clean Car Championship is a friendly competition that emphasizes our top priority -- providing clean, well-maintained vehicles for our customers," said Rob Hibbard, vice president of airport business development for Enterprise Holdings. "Thousands of airport service agents from Alamo, Enterprise and National do outstanding jobs every day to ensure our vehicles are in top shape and our customers have the best rental experience possible. This is the fourth year to highlight the importance of clean cars in our industry and recognize our best performers." Alamo, Enterprise and National service agents clean and refuel nearly 18 million vehicles each year. 11/May/2011 Dollar Thrifty Profit Slides in Q1Dollar Thrifty Automotive Group, Inc. reported results on Thursday for the first quarter ended March 31, 2011. Net income for the 2011 first quarter was $16.5 million, compared to net income of $27.3 million, for the first quarter of 2010. The company's total revenue for the quarter was $348.3 million, consistent with the comparable 2010 period.
DTAG noted that the decline in net income was anticipated and resulted primarily from the decision to reduce vehicle dispositions during the quarter, which reduced gains on sales of vehicles compared to the prior year period. 10/May/2011 Mercedes Partners with Europcar on Electric Van RentalsMercedes-Benz Vans and Europcar have signed a memorandum of understanding under which Mercedes-Benz Vans will supply "a number" of Vito E-CELL vans to Europcar for customer trials in Hamburg, Germany, and Paris, France, the companies said in a statement.
Also under the agreement the two companies will explore and analyze customer profiles and behaviors involving the use of electric vehicles in cities, and how rental services can be adapted to cater to this demand. 09/May/2011 Hawaii Passes Car Rental SurchargeHawaii state lawmakers passed House Bill 1039 on Friday, April 29, which includes an increase surcharge on car rental taxes from $3 to $7.50. The surcharge will be used to help close the state's deficit. 08/May/2011 Mint Cars On-Demand Opens in BostonBOSTON, MA/NEW YORK, NY - Mint Cars On-Demand, a company that has been providing car ownership alternatives in New York since 2008, is bringing its fleet of cars - ranging from eco-friendly hybrids, useful pickups, and crossovers to luxury Mercedes-Benzes - to the Boston area. The areas that will be serviced by Mint cars are located all throughout the Boston area, including: 07/May/2011 Avis Budget Posts Q1 ProfitAvis Budget Group reported net income of $7 million for the first quarter of 2011, compared with a year-earlier loss of $38 million. Revenue rose 7 percent to $1.24 billion.
"We delivered solid revenue and earnings growth in the quarter as improved travel trends, a continued focus on productivity and cost containment, and lower-than-expected fleet costs more than overcame the weather-related disruptions we faced," said Ronald L. Nelson, Avis Budget Group Chairman and Chief Executive Officer in a statement. 06/May/2011 Hertz Launches New Branding CampaignThe Hertz Corporation unveiled this week a global, multi-faceted branding initiative designed to cultivate a dialogue with customers by focusing on customers' driving experiences. Built around the question "Are You The Gas or The Brake," -- focusing on the universal element of how people operate as either the Gas (more aggressive, exciting, adventurous) or the Brake (conservative, reserved, more of a planner) -- the campaign acknowledges the wide range of "travel personalities" and serves as a platform to address the different wants, needs and aspirations of customers. Hertz will use the platform to illustrate the flexibility provided by its products and services and its ability to fulfill a variety of travel preferences. The campaign debuts this week, with the launch of a "Getaway Giveaway" sweepstakes and contest, a multi-million dollar advertising campaign, and an online consumer engagement platform. The first television ads are scheduled to appear on May 4.
05/May/2011 Calif. Assembly Approves Recall BillThe bill passed with a 42-26 vote, one more than the simple majority needed. Introduced by Assemblymember Bill Monning, AB 753 would require car rental companies to ground and fix all vehicles under a safety recall before renting them.04/May/2011 Car Rental Majors: Looking ForwardOn their fourth quarter and full-year 2010 earnings calls, the three public car rental companies look into the crystal ball on prepaid rentals, franchising, new remarketing channels and growth opportunities.The three public car rental companies, Hertz Corporation, Avis Budget Group and Dollar Thrifty Automotive Group, hold their annual earnings calls in late winter. While the P&L scorecards grab the headlines, underneath the financial big picture, each company presents an operations analysis on what's new, what's working and what we might expect in the near future. Aggregated, this information is a good indicator of where the industry is headed. 03/May/2011 Sea-Tac Conrac On TrackThe consolidated rental car facility at Sea-Tac Airport serving Seattle, Wash. is on schedule to open in the spring, according to an Associated Press report. The $419 million rental complex will be finished in November but won't open immediately to give car rental companies time to ramp up operations. 02/May/2011 Hertz Narrows Loss in Q1, Ups GuidanceHertz Global Holdings, Inc. reported first quarter 2011 worldwide revenues of $1.8 billion, an increase of 7.2% year-over-year (a 6.1% increase excluding the effects of foreign currency).Worldwide car rental revenues for the quarter increased 6.2% year-over-year (a 5.1% increase excluding the effects of foreign currency) to $1.5 billion. Revenues from worldwide equipment rental for the first quarter were $268.2 million, up 13.2% year-over-year (an 11.9% increase excluding the effects of foreign currency).
01/May/2011 Debate Centers on Whether to Borrow Funds for Rental Car FacilityLooking for a way to help balance the state budget, Hawaii state lawmakers are considering diverting some of the daily surcharges that tourists and others pay on rental cars, according to the Honolulu Star Advertiser.A surcharge on airport auto rental customers was increased last September from $1 to $4.50 a day to help finance rental car facility improvements. Lawmakers can only legally use that money for airport-related projects. With a bill under consideration¾House Bill 1039¾lawmakers would suspend the surcharge and increase a separate surcharge on all rental cars from $3 to $7.50. They would then divert the extra cash to help close the state's deficit.
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