Latest Automobile renting and leasing News

Modest-income buyers being priced out of new-vehicle market

Apr. 15, 2022 10:11 AM EDT

DETROIT (AP) — Two years after the pandemic tore through the economy, America’s auto market looks something like this: Prices are drastically up. Supply is drastically down. And gasoline costs drastically more. The result? A widening disparity between the richest buyers and...

CEO of rental giant Hertz vows to fix false theft reports

Apr. 05, 2022 17:23 PM EDT

NEW YORK (AP) — The new CEO of Hertz says he’s working to fix a glitch in the rental-car giant’s systems that has led to some of its customers being wrongly accused of stealing cars they had rented. Stephen Scherr, who took over as CEO on Feb. 28, said the company has changed...

Hertz to buy up to 65,000 electric vehicles from Polestar

Apr. 04, 2022 09:10 AM EDT

Car rental company Hertz is planning to buy up to 65,000 electric vehicles from Swedish premium electric car maker Polestar over the next five years as it looks to boost its electric vehicle rental fleet. Financial terms were not disclosed. The vehicles are expected...