combination car-rental and ridesharing app Archives

daniel June 1, 2017 Are Avis-Budget and Hertz Acquisition Targets?, Avis Budget Group (NASDAQ: CAR), BMW (OTC: BMWY), BMW and Mini, BMW’s resources make ReachNow a threat to car-rental companies, Can Hertz and Avis-Budget Compete with BMW?, combination car-rental and ridesharing app, General Motors is a Threat to Avis-Budget and Hertz, Hertz Global Holdings (NYSE: HTZ), high-end car rental alternative, Is BMW now a Threat to Hertz and Avis-Budget?, Maven, ReachNow, ride-hailing apps have damaged Hertz and Avis’s business, Should BMW be in the Car-Rental Business?, Will Hertz and Avis-Budget Survive?, Zipcar

Should BMW be in the Car-Rental Business?

Hertz Global Holdings (NYSE: HTZ) and Avis Budget Group (NASDAQ: CAR) have a dangerous new competitor. BMW (OTC: BMWY) has entered the car-rental business.

The German automaker has launched ReachNow; a combination car-rental and ridesharing app, in three U.S. markets; Seattle, Brooklyn, and Portland, Oregon. ReachNow offers short-term car rentals similar to Avis’s Zipcar, an Uber-type car service and one to five day use of rental cars.