William Maley

Around this time last year, rental car companies found themselves selling off a fair amount of their inventory as the COVID-19 pandemic devastated the travel industry. With travel starting to bounce back, rental car companies now find themselves with a new problem - a shortage of vehicles to rent. Usually, they would turn to automakers and buy up a batch of new cars to shore up inventory. But the on-going semiconductor shortage has automakers cutting back on production, and causing rental companies to look at used cars. “You would never go into auction to buy routine sedans and SUVs. These are special circumstances. There is a shortage of cars,” said Maryann Keller, an independent consultant. Bloomberg reports that rental car companies do buy a small amount of used cars in the event of an sudden rise in demand, but not to fully outfit their fleet. New car production has been hampered since last year as plants were shut down to stop the spread of the COVID-19 virus. Production was starting to climb back up later in the year only to be hampered again by another crisis, the lack of semiconductors and chips needed for various systems. In their first-quarter earnings call, Ford reported production was down 17 percent and could fall as much as 50 percent in the second quarter. Other automakers are making similar statements. “Our fleet acquisition team is working hard to secure additional vehicles -- both new and low-mileage used vehicles -- through all channels to meet the ongoing increase in demand.Overall, though, both new and used car inventory remain low. Our teams will continue to do everything we can to help customers with their transportation needs,” Enterprise spokeswoman Lisa Martini said via email. There is a silver lining for rental car companies as they'll be able to charge higher rates as many people begin to take vacations after spending a lot of time at home. For example, the average rate at Avis increased 3 percent in the fourth quarter, to $59.43 a day according to Hamzah Mazari, an analyst with Jefferies & Co. He expects that number to rise to $60.00 when Avis reports their first quarter results. Source: Bloomberg (Subscription Required) View full article

For your consideration: Two unlikely sport sedans. The Toyota Camry TRD and Lexus ES 350 F-Sport may not seem like credible sport sedans at first glance. They may seem like tarted-up sedans in terms of looks, but nothing else. However, after spending a week in each one, I can say both are the real deal. Camry TRD This Camry is in your face about its sporting potential. It comes with a front splitter, side skirts, a distinct rear spoiler, and 19-inch TRD wheels with a matte black finish. I found it to be a bit much and wished Toyota offered a package that got you the goodies for the suspension and exhaust system while keeping the looks of a standard Camry. A sleeper of sorts. TRD models come with small touches inside such as red seatbelts, red stitching on the seats and dash; leather-wrapped steering wheel, and TRD floor mats. Otherwise, it is your standard Camry interior. Power comes from a 3.5L V6 with 301 horsepower and 267 pound-feet of torque. Yes, that's the same output as the Camry XLE V6 I drove earlier. But what TRD has done is added a new exhaust system that provides a nice growl. I'll admit I was surprised when I blipped the throttle at a stoplight and heard what came out. This is an engine you have to work slightly to get into its sweet spot of power - around the mid-range on the rpm band. But once you do, the engine delivers a smooth punch of power. I do wish the six-speed automatic wouldn't try to go into the highest gear ASAP to maximize fuel economy. Where TRD worked their magic is with the suspension. The car is lower than a standard Camry, along with being stiffer thanks to thicker underbody braces, stabilizer bars, and shocks. On a winding road, the Camry TRD feels much more athletic than the standard Camry with minimal body and a set of summer tires providing excellent grip. The only downside is the steering which needs a bit more weight. Ride quality is a bit more firm than a standard Camry, but the suspension does a decent job of minimizing the bumps and impacts. To top it all off, Toyota has priced the Camry TRD at a surprising point. With the two-tone paint on my tester, it comes at $32,920 - making this the cheapest way to get a V6 in a Camry. The added bonus is that the TRD is also the most fun you can have in Camry. ES 350 F-Sport Lexus takes a more sedate approach with the ES F-Sport with a mesh grille insert, new wheels, and a small lip spoiler. I think if they went overboard with the sporty touches, it would ruin the elegance of the standard ES design. I will say the grey on my tester makes the F-Sport kind of look somewhat bland. Going with either the blue or red helps it stand out. Under the hood is the same 3.5L V6 found in other ES 350s, producing 301 hp and 267 lb-ft. The behavior is similar to what I found in the Camry, needing to work it before a smooth rush of power comes on. The transmission doesn't have the same programming as the Camry's with trying to maximize fuel economy. It is ready to downshift at a moment's notice. I've praised the standard ES for making a real leap forward in handling as there is less body motion on windy roads when compared to the previous model. The F-Sport takes that a step further with a revised suspension and optional adaptive dampers - which my car had. Slip the drive mode into Sport+ and ES transforms into something that you can pilot with confidence on a twisty stretch of road. The dampers firm up to make body roll non-existent, and the steering feels more weighty when turning. When you decide to stop having fun and turn the drive knob to either normal or comfort, the F-Sport transforms a standard ES with a smooth and quiet ride. The price? Base is $44,635 and this fully-loaded tester comes in at $53,950 with destination. A bit hard to swallow when you consider that the Avalon TRD offers similar performance for slightly less money. But not everyone wants a sedan that screams "look at me", and thats where the ES 350 F-Sport shines. It may be sporty, but it keeps quiet about its intentions. Disclaimer: Toyota and Lexus Provided the vehicles, Insurance, and One Tank of Gas Year: 2020 Make: Toyota Model: Camry Trim: TRD Engine: 3.5L DOHC 24-Valve VVT-iW V6 Driveline: Eight-Speed Automatic, Front-Wheel Drive Horsepower @ RPM: 301 @ 6,600 Torque @ RPM: 267 @ 4,700 Fuel Economy: City/Highway/Combined - 22/31/25 Curb Weight: 3,572 lbs Location of Manufacture: Georgetown, KY Base Price: $31,040 As Tested Price: $32,920 (Includes $995.00 Destination Charge) Options: Two-Tone Midnight Black Metallic Roof and Rear Spoiler - $500.00 Special Color - $425.00 Year: 2020 Make: Lexus Model: ES 350 Trim: F-Sport Engine: 3.5 DOHC 24-Valve VVT-iW V6 Driveline: Eight-Speed Automatic, Front-Wheel Drive Horsepower @ RPM: 302 @ 6,600 Torque @ RPM: 267 @ 4,700 Fuel Economy: City/Highway/Combined - 22/31/25 Curb Weight: 3,649 lbs Location of Manufacture: Georgetown, KY Base Price: $44,635 As Tested Price: $53,950 (Includes $1,025.00 Destination Charge) Options: Navigation/Mark Levinson Audio Package - $2,900.00 Triple Beam LED Headlights - $1,515.00 Blind Spot Monitor w/Rear Cross Traffic Alert and Intuitive Parking Assist w/Auto Braking - $1,065.00 Adaptive Variable Suspension - $750.00 Hands-Free Power Open/Close Trunk - $550.00 10.2-inch Head-Up Display - $500.00 Illuminated Door Sill - $400.00 Power Rear Sunshade - $210.00 F Sport Heated Leather Steering Wheel with Windshield Wiper Deicer and Fast Response Interior Heater - $180.00 Door Edge Guard - $145.00 Wireless Charger - $75.00 View full article