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With rental prices sky high, car-sharing companies get a boost


With rental prices sky high, car-sharing companies get a boost
Rental car companies that sold hundreds of thousands of vehicles when the COVID-19 pandemic kept people home are now struggling to bring in enough new cars.
 
 
Travelers walk inside Tampa International Airport s Rental Car Center in Tampa, Florida, on March 19, 2021. Rental car companies that sold hundreds of thousands of vehicles when the COVID-19 pandemic kept people home are now struggling to bring in enough new cars. [ IVY CEBALLO/TAMPA BAY TIMES | Tampa Bay Times via ZUMA Wire ]
By Lauren Zumbach Chicago Tribune (TNS)
Published May 7
Updated May 7
A Memorial Day trip to hike and bike at Mississippi Palisades State Park seemed like an easy pandemic getaway — until Autumn Wolfer tried to book a rental car to drive there. ....

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Rental companies snapping up used cars as chip crisis gets worse


A semiconductor shortage has affected vehicle production. 
This means there is a shortage of cars - and rental-car companies can t get the new cars they need. 
The demand is sending the cost of used cars soaring. 
The
semiconductor shortage has slashed vehicle production so much that rental-car
companies can’t get the new cars they need, so they have resorted to buying
used vehicles at auction.
This is uncharted
territory for the likes of Hertz Global Holdings and Enterprise Holdings, which
have made their profits by purchasing new vehicles cheaply in bulk, renting
them out for as much as a year and selling them at auction. In the past, they ....

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