Avis’s stock drops after company sells record number of cars into a tough used-car market
Avis Budget Group’s stock was having its worst day in four years on Tuesday, after the car-rental company said it sold a record number of vehicles during the fourth quarter in a bad market for used cars, due to vehicle oversupply and a spike in interest costs.
Avis Budget Group’s stock was having its worst day in four years on Tuesday, after the car-rental company said it sold a record number of vehicles during the fourth quarter in a bad market for used cars, due to vehicle oversupply and a spike in interest costs.
