Impact on Pandemic in Car Rental Industry

By: Sharon Faulkner

You don’t need to hear it from ACRA – your business probably has been profoundly and negatively impacted over the last two to three weeks. Cancellations, no-shows, drastic declines in rentals – even lack of physical space to park idled vehicles. Some published estimates indicate that overall domestic rentals have dropped between 50% and 80% month over month – February to March.

What You Can Do To Help Your Industry
Contact your Senators and Representatives on Capitol Hill and send them a message to “Include the car rental industry in the COVID-19 economic stimulus package”; be sure to note your business location and number of employees.

To find your Senators: www.senate.gov
To find your Representative: www.house.gov

For the House, enter your zip code and you will be directed to the legislators’ websites; ACRA suggests you send a message, rather than call, as most Hill offices with have answering machines on at this point.

ACRA Actions
ACRA Board Letter
ACRA’s Board of Directors sent the attached letter to U.S. Secretary of the Treasury Mnuchin yesterday seeking federal assistance for the car rental industry. The main goals of the letter: (1) relief from an industry liquidity crisis through disposition of vehicle assets, perhaps through purchases by the federal government or other government support; and, (2) relief from airport concession contract minimum guarantees and consolidated facility charges, again looking to Uncle Sam to make airports “whole” on payments the car rental industry can’t make due to the lack of rentals. ACRA’s letter was also circulated to senior staff in the White House and in the House and Senate – who are working on a potentially $2 trillion “Stage 3” economic stimulus package (see below).

Congressional Actions

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