The rental-car sector takes deep blows due to the COVID-19 crisis

Jun 03, 2020
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Ride-sharing and car-rental services have taken a bashing due to the coronavirus pandemic. Avis Budget Group Inc reported a net loss to the tune of $158 million in the first quarter alone. One of the first implications of the pandemic was stay at home orders which have been in place since March. With no takers for travel outside or within cities, the car rental industry has witnessed a 9 per cent fall in revenue which is expected to fall further.

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The rental-car sector takes deep blows due to the COVID-19 crisis

The rental-car sector takes deep blows due to the COVID-19 crisis

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