companies

Rental Companies Buy Up Used Cars as Chip Crisis Get Worse

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 Inc. and Enterprise Holdings Inc., 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 have bought some used cars to shore up an occasional unforeseen burst in demand, but rarely for the mainstays of their fleets.

“You would never go into auction to buy routine sedans and SUVs,” said Maryann Keller, an independent consultant who used to be on the board of Dollar Thrifty Automotive Group, which is now part of Hertz. “These are special circumstances. There is a shortage of cars.”

The demand is sending used-car costs

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11 Most Valuable Car Companies in the World

In this article, we are going to talk about the 11 most valuable car companies in the world. You can skip our detailed discussion about the global automotive industry and trends and go to the 5 Most Valuable Car Companies in the World.

The automotive industry plays a key role in driving the world’s economic growth. Among the products of the industry are automobiles, sport utility vehicles (SUVs), electric vehicles, trucks, and commercial vehicles. According to data from the industry research firm IBISWorld, the global car and automobile manufacturing industry is worth $3.2 trillion in 2021.

The automotive industry contributes heavily to the GDP of the top countries that produce the most cars such as China (10%), Germany (5%), and the U.S. (3.5%). The auto industry also accounts for about 5% of the world’s manufacturing employment recruiting 9 million people to produce over 90 million vehicles annually. Car

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50 car companies that no longer exist

The automobile may have had its origins in Europe, but few sectors of the U.S. economy embody the American notions of personal liberty, expression, and freedom as fully as the automotive industry.

The rise of the industry at the beginning of the 20th century coincided with the ascent of manned flight and the motion picture industry, and a sense that the United States was entering a new and progressive era where anything was possible.

Hundreds of automotive companies sprouted all over the nation at the turn of the century, firing the ambitions of people in all walks of life.

Not all of these ambitions were realized. Many companies foundered because of mismanagement, overexpansion, misjudgment of the public taste, and underestimating supply chain costs. Some companies in the early part of the 20th century whose products were electric vehicles or steam-powered cars could not compete against gas-powered autos that had more

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