AN EXPLANATION OF THE FACTIONS  
 

[ DONATE TO RMN ] [ Archive Search Page ] [ RMN Reading Room ] [ CGI Media News Room ] [ SUBSCRIBE TO RMN ]

RMN is Reader Supported

Our Goal for
DEC 8 - JAN 5:
$1,450

Powered by FundRazr

Click Widget
or Click Here to contribute.

Checks & Money Orders:

Raye Allan Smith
P.O. Box 95
Ashtabula, OH 44005


Users Online:
31

Who Founded RMNews?


Dewitt Jones' Video
"Celebrate What's Right
With The World"


"When the
Starships Fly!"

Listen at YouTube


The Theme for The Obergon Chronicles

Listen at YouTube


The Obergon Chronicles ebook


RUMOR MILL
NEWS RADIO


CGI ROOM
Common Ground
Independent Media


WHAT ARE
THE FACTIONS?


THE AMAZING
RAYELAN ALLAN


BIORHYTHMS

LOTTO PICKS

OTHER WAYS TO DONATE





RUMOR MILL NEWS AGENTS WHO'VE BEEN INTERVIEWED ON RUMOR MILL NEWS RADIO

______________

NOVEMBER 2008

Kevin Courtois - Kcbjedi
______________

Dr Robin Falkov

______________

Melinda Pillsbury Hr1

Melinda Pillsbury Hr2

______________

Daneen Peterson

______________

Daneen Peterson

______________

Disclosure Hr1

Disclosure Hr2
______________

Scribe
______________

in_PHI_nitti
______________

Jasmine Hr1
Jasmine Hr2
______________

Tom Chittum Hr1
Tom Chittum Hr2
______________

Kevin Courtois
______________

Dr Syberlux
______________

Gary Larrabee Hr1
Gary Larrabee Hr2
______________

Kevin Courtois
______________

Pravdaseeker Hr1
Pravdaseeker Hr2
______________

DECEMBER 2008

Tom Chittum
______________

Crystal River
______________

Stewart Swerdlow Hr1
Stewart Swerdlow Hr2
______________

Janet Swerdlow Hr1
Janet Swerdlow Hr2
______________

Dr. Robin Falkov Hr1
Dr. Robin Falkov Hr2
Dr. Robin Falkov Hr3

JANUARY 2009 ______________

Patriotlad
______________

Patriotlad
______________

Crystal River
______________

Patriotlad
______________

Dr. Robin Falcov
______________

Patriotlad

FEBRUARY 2009

Find UFOs, The Apocalypse, New World Order, Political Analysis,
Alternative Health, Armageddon, Conspiracies, Prophecies, Spirituality,
Home Schooling, Home Mortgages and more, in:

Rumor Mill News Reading Room, Current Archive

Hertz Cancels 90% of New Car Purchases, Further Pressuring Already Desperate Automakers

Posted By: RumorMail
Date: Thursday, 14-May-2020 13:42:04
www.rumormill.news/146794

Lockdown drastically impacting markets
Zero Hedge - May 14, 2020

One harsh reality of the coronavirus lockdown has been the rental car industry, amid a broader travel industry, grinding to a total halt. This has led to several consequences that we have been documenting at length here on Zero Hedge.

The main consequence is that auto dealers are losing billions of dollars in fleet sales, which we documented just last week. Fleet sales account for 1.7 million vehicles per year, or about 10% of total U.S. auto sales.

Another consequence is that rental car companies have nowhere to store their inventories. Parking lots across the U.S. are full of rental cars, forcing some rental car companies to even rent out the parking lots of unused sports stadiums to store their cars.

This, combined with a massive demand drop off, has led to a massive inventory glut for auto dealers, who are being forced to consider major incentives across the board to try and sell vehicles when the consumer makes their way back to the showroom.

It’ll be difficult, as the price of used cars is also plunging and Americans are known for buying used cars, instead of new ones, in times of economic peril.

Now, it looks as though the situation for the auto industry is getting even worse.

Hertz, which is currently in the fight of its life against bankruptcy, has cancelled 90% of its new car purchases for the 2020 model year, according to Bloomberg. The move will likely hit major automakers hard.

General Motors, Fiat and Ford will be hit the hardest, as they made up 21%, 18% and 12% of Hertz’s vehicle supply, respectively.

Chief Executive Officer Kathy Marinello disclosed the company’s plans (or lack thereof) in a conference call on Tuesday after the company reported a larger loss than expected and admitted it might not be able to continue as a going concern.

Marinello said: “The coronavirus created a major disruption as the global travel market and the used-car market effectively shut down. We have to be pragmatic about the timing of an economic rebound, including a second wave of the virus in the fall. So we are focused on safeguarding liquidity.”

Rental car sales fell 77% in April and Fiat was the hardest hit with loss of total fleet sales, according to Cox Automotive.

Hertz continues to try and negotiate with its lenders ahead of a May 22 debt deadline. Should the company not meet its obligations by then, it may risk bankruptcy. There was no status about the company’s bankruptcy talks on the conference call.

Usually, that’s not a good sign…

Read More



RMN is an RA production.

The only pay your RMN moderators receive
comes from ads.
If you're using an ad blocker, please consider putting RMN in
your ad blocker's whitelist.

Menorah image

Serving Truth and Freedom
Worldwide since 1996
 
Politically Incorrect News
Stranger than Fiction
Usually True!


Powered
by FundRazr
Click Widget
or Click Here to contribute.


Organic Sulfur 4 Health

^


AGENTS WEBPAGES

Provided free to RMN Agents

Organic Sulfur 4 Health

^


AGENTS WEBPAGES

Provided free to RMN Agents



[ DONATE TO RMN ] [ Archive Search Page ] [ RMN Reading Room ] [ CGI Media News Room ] [ SUBSCRIBE TO RMN ]

Rumor Mill News Reading Room, Current Archive is maintained by Forum Admin with WebBBS 5.12.

If you can't find what you're looking
for using our RMN search, try the DuckDuckGo search below:


AN EXPLANATION OF THE FACTIONS