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Rental car companies latest to seek TARP funds

Feel that breeze? It's the draft coming through the front door. The door that was opened a crack to let in the banks and Detroit Three but has been pushed wide open. The latest industry to claim distress is from another automotive sector, the rental car business. Yes, The Wall Street Journal is reporting that rental car agencies are now seeking Troubled Asset Relief Program funds, too. The backstory goes like this: As the economy has tanked, business and leisure travel has slowed and demand for rental cars is now at its lowest point since the ... Read more →

Rental fleet sales down last year, 2009 will be worse Jonathon Ramsey

Last summer, it was the Detroit Three that were restraining themselves from dumping cars into the gaping maw of fleet sales just to boost the bottom line. Turns out they had some help with that ...

Advantage Rent-A-Car files for Chapter 11 Jonathon Ramsey

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Rental car companies latest to seek TARP funds 10 months ago on Autoblog

Rental fleet sales down last year, 2009 will be worse 11 months ago on Autoblog

Last summer, it was the Detroit Three that were restraining themselves from dumping cars into the gaping maw of fleet sales just to boost the bottom line. Turns out they had some help with that discipline: Due to last year's events, rental car fleets shrunk by 400,000 units from 2007 to 2008. As we ...

Advantage Rent-A-Car files for Chapter 11 1 year ago on Autoblog

Privately-held Advantage Rent-A-Car has filed for Chapter 11 bankruptcy protection and is closing almost half of its locations nationwide. Punished by, of course, tight credit, the company has also suffered from higher costs and lower revenue because of reduced consumer travel (a.k.a. the ...

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Autoblog Podcast #158: 'Twas a couple nights before Christmas...

Chris, Editor Paukert, and Dan send the Podcast off for the Christmas holiday in proper fashion

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