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Article: Rental car rebound: Fleet deals back?(Car rental industry's earnings stabilizing)(Brief Article)(Statistical Data Included)
- Article from:
- Asset Securitization Report
- Article date:
- May 27, 2002
- Author:
CopyrightCOPYRIGHT 2002 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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After taking a beating in the fourth quarter, the car rental market is looking up-at least among the top tier names-thanks to a rapid reduction in rental car inventory, a faster than expected recovery for the travel industry after Sept. 11, and an economy that is slowly but surely shaking off its first recession in a decade.
The car rental industry, which expected revenues to decline by as much as 15% year-over-year in the first quarter, was down only half that much, according to data provided by car rental companies to Moody's Investors Service. Indeed, the Travel Business Roundtable Index has posted five consecutive months of increases since the lows of ...