How the massive EV transition is starting in the car rental industry [CNBC]
Avis Budget Group, Inc. (CAR)
Last avis budget group, inc. earnings: 2/19 04:00 pm
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Source: CNBC
Enterprise Holdings and Avis Budget Group have announced their own plans to transition away from the internal combustion engine. But for the $56-billion U.S. rental industry, which buys about one-tenth of auto manufacturers' new cars every year, hundreds of thousands of traditional autos will be rented for years to come. Not long after Hertz Global Holdings emerged from bankruptcy last summer, reorganized after the Covid-19 pandemic stalled the entire car rental industry, the Estero, Florida-based company boldly announced a $4.2 billion deal to purchase 100,000 Tesla fully electric vehicles (EVs) by the end of 2022. Just like that, the race was on within the industry to transition to EVs from internal combustion engine (ICE) models. While Hertz was first off the starting blocks, its two biggest rivals, Enterprise Holdings and Avis Budget Group , have since joined in. But just like the full-scale adoption of EVs among American drivers is going to take years, the rental car shift
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News
- Hertz Global eyes worst day on record as EV rental business falters [Reuters]Reuters
- Hertz Global eyes worst day on record as EV rental business falters [Yahoo! Finance]Yahoo! Finance
- Centrus Energy: Secular Tailwinds And Regulatory Environment Make The Company Still Cheap [Seeking Alpha]Seeking Alpha
- Avis Budget Group to Announce First Quarter 2024 Results on May 1st [Yahoo! Finance]Yahoo! Finance
- Avis Budget Group to Announce First Quarter 2024 Results on May 1stGlobeNewswire
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- 2/12/24 - Beat
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- 3/18/24 - Form 8-K
- CAR's page on the SEC website