February 04, 2008
Car rental companies' fleet costs, used by suppliers in recent years to justify rising rental rates, are leveling off amid rental firms' attempts to diversify their fleets and keep costs down, company representatives and industry analysts said.
February 04, 2008
Car rental buyers mostly are signing one- or two-year contracts with two car rental companies, according to a recently released survey, highlighting what analysts called a growing move toward longer contracts with fewer vendors that allow for renegotiation at specified periods of time.
February 04, 2008
HRG's consulting division has launched a suite of car rental analytical and sourcing tools to help in what it called a growing area of expenditure for clients. Although HRG reckons car rental accounts on average for only 2 percent of corporate travel expenditure, it expects these costs to rise, especially in Europe, because car rental is gaining in popularity at the expense both of in-house fleets and private vehicles.
December 10, 2007
Hertz Global Holdings last week named longtime General Electric sales manager Robert J. Stuart to head the car rental company's global sales operations next year.
November 28, 2007
The Internal Revenue Service next year will raise the allowable vehicle reimbursement rate to 50.5 cents per mile, which is the highest rate in history. The increase largely is attributed to growth in the cost of fuel and other vehicle expenses and is up from the 2007 rate of 48.5 cents per mile and the 2006 rate of 44.5 cents per mile.
September 24, 2007
Major international car rental companies this year have reported revenue growth and unveiled European services, including new tools designed to woo more corporate customers.
September 24, 2007
Chauffeured transportation suppliers are reporting greater interest from buyers via requests for proposals in vendors' environmental initiatives and security assurances. Meanwhile, buyers continue to push for multiyear agreements in their car rental RFPs, analysts said.
September 24, 2007
Dollar Thrifty Automotive Group and Avis Budget Group both have expanded the availability of their electronic toll-payment tools. After launching its electronic toll-payment program in the Northeast last year (BTN, March 20, 2006) and Chicago earlier this year, Avis Budget this month announced that it has expanded the service to Puerto Rico, will expand it to Florida this month and to Colorado later this fall.
September 10, 2007
Hertz corporate customers absorbed a slight increase in their car rental rates during the second quarter of 2007 while the Avis Budget Group reported rates lower than 2006, according to second-quarter earnings reports released last month by the companies.
July 23, 2007
Car rental companies are boosting their fuel-efficient and alternative-fuel vehicle offerings in response to growing corporate interest in environmentally friendly ground transportation as well as rising fuel costs.