A new report from Car Rental reveals a major shift in the way Americans use car rental services, with consumers moving toward self-driving cars and more frequent rental trips.
Car Rentals, which offers car rentals through car rental apps, has also seen a huge uptick in new users.
Car Rental has had a rocky year.
In March, the company’s chief executive, David Hurd, was forced to resign amid allegations that he’d taken money from investors and pressured employees to avoid reporting company misconduct.
In April, Hurd was fired amid allegations of sexual harassment.
Hurd’s exit was followed by a shakeup at the company.
In May, CEO Jim Hyneman announced that Hurd would step down after a year as CEO, while CEO of Car Renteries, Jim Hurd Jr., was hired as interim CEO.
The news came after months of speculation about the future of Car Rentals, with the company struggling to keep up with demand for car rental cars and the increasing availability of autonomous vehicles.
In a recent interview with The Verge, Hynemans cofounder, David Carbone, said that the company would focus on “growing the number of rental cars we have” to meet demand.
The move by Hynemens and Car Rrents follows a year-long period of decline for Car Rentings.
In the first nine months of 2017, Car Rentshare reported operating losses of $2.6 million.
The company’s losses climbed to $1.9 million in the first six months of the year.
Hynemeans comments came amid reports that a third of CarRentals cars had no passengers, and that a recent car rental app, AutoRent, was in a state of collapse.
“We have seen a tremendous growth in demand for rental cars over the last year and a half,” said Hynewson.
“In the last nine months, we have seen demand more than triple from where it was in March, which is an unprecedented growth in just a year.”
Hyneman said Car Rentas revenue had grown to $4.4 million, a 25 percent increase from the previous year.
“With the adoption of self-drive technology and autonomous vehicles, Car RentaS revenue has grown significantly over the past three years,” Hynemer said.
“And we expect to see even more of a robust and robust revenue growth this year.”
Car Rentshals revenues have grown over the years, with revenues in 2017 reaching $9.7 million, up from $5.5 million in 2016.
The increase was largely driven by the growth of new Car Rancieshare customers.
The company says it has more than 2,500 rental cars in use, and has more rentals on the road than it had in 2016, when it reported a loss of $1 million.
“Car Rentas has grown from a very small team to a world-class rental car rental company with a very strong portfolio of rental vehicles,” said Car Rentylls CEO Jim Kline, in a statement.
“Car Rentyls revenue is driven by a growing fleet of vehicles in our fleet, new rental cars, and the success of our business.”
The rise of self drive technology and the emergence of self renting apps have created a significant opportunity for car rentals, especially in cities where car sharing is commonplace.
But there is still a huge disparity between the costs of renting a car and the rental costs of owning a car.
A car rental business is a big business, especially if it’s based in one of the biggest cities in the United States.
But the costs associated with renting a new car are far higher than what you’d pay for a car that’s owned.
For example, in New York City, a one-bedroom car rental costs $15,000.
But a two-bedroom rental costs around $50,000, according to the National Association of Realtors.
In cities with self-driven car sharing, the cost of a new rental car can be up to 20 percent more than the cost for owning a similar car.
“The average new car owner spends around $70,000 a year on insurance and maintenance.
That’s a huge savings for most people,” said Kevin Hensley, senior vice president of automotive finance at Car Rents.
Hensley said it was possible that self-drives could bring some relief to some renters.
But he said self-discovery will be difficult, and some people may be less willing to give up their cars if they can’t find a rental.