This study addresses the problems of fleet size and vehicle transfer for car-rental companies with multiple branches. The problem is formulated as a constrained mixed-integer programming model within an environment of dynamic demand. We develop a hybrid heuristic approach to solve this problem, using quantitative results to demonstrate the robustness and effectiveness of the proposed approach. We apply the proposed model to the analysis of a case involving a car-rental company in Taiwan. Sensitivity analyses are also conducted to investigate the effects of various system parameters on the computational results. Peng-Sheng Youa, Yi-Chih Hsiehb. 2014. Transportation Research Part E: Logistics and Transportation Review. Volume 64, pages 110–121
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