Hertz Global Holdings Inc., awaiting final U.S. antitrust approval for its acquisition of Dollar Thrifty Automotive Group, is among rental-car companies enjoying price increases not seen since before the recession.
Toyota Motor Corp., which led first-quarter U.S. gains among large overseas carmakers, expects little growth for its namesake brand in April after trimming fleet sales, said U.S. Group Vice President Bill Fay.
The Chinese will buy 16.7 million passenger cars and light commercial vehicles this year, about five million more than consumers in the U.S., according to the most recent research by J.D. Power and Associates. Driven by China’s rising middle class, breakneck development of suburbs and roads, and drastically reduced tariffs on automobile imports since 2001, a torrent of cars is choking Chinese cities in traffic and pollution. Convinced that a market existed for car rentals, Shanghai-born Ray Zhang, the founder and former chief executive officer of logistics software maker Aleph in Emeryville, Calif., returned to China in 2005 and launched eHi Car Rental a year later with $5 million in venture capital, promoting renting as a greener alternative to owning.
General Motors Co.’s Chevrolet Impala sedan, long relegated to the rental car lot, is making a surprising U-turn back to relevance thanks to a racy redesign that borrows from sports car stable-mates Camaro and Corvette.
Supporters of tighter restrictions on guns are deploying a new tactic: pressing companies such as Wyndham Worldwide Corp. and Hertz Global Holdings Inc. to stop giving discounts to members of the National Rifle Association.
Enterprise Holdings Inc., the largest U.S. car-rental company, is making a move into hourly car rentals this year, joining No. 2 Hertz Global Holdings Inc. in going after the growing niche created by Zipcar Inc.
U.S. antitrust regulators are investigating whether Macquarie Group Ltd.’s private-equity arm violated a consent decree allowing it to buy the Advantage rental car brand from Hertz Global Holdings Inc., two people familiar with the matter said.