The rental car industry is gradually transitioning from ICE to EV, causing a shift from European to Chinese-made cars. Companies are investing in longer-term savings by buying Chinese EVs, saying they are comparable in quality but with lower purchase prices.
Carpe diem. Analysts say the time is now as the pandemic's impact on public transit and air travel increased the value of the rental car industry to nearly $100B. When the pandemic dropped the demand, many rental car companies sold off their fleets. Another inventory sell-off may follow as they supplement and eventually replace their fleets with EVs.
Telling it like it is - Dealers: Psst. Y’all looking to wholesale your fleet?