A company called Orbitz, which has a fleet of luxury cars, is trying to raise cash for its operations.
Orbitz is seeking $1.2 billion in funding to help fund a business strategy that includes expanding its luxury fleet.
The company says its fleet is among the most expensive in the industry, which is why it’s looking for capital to build more luxury vehicles.
Orbitz has had trouble finding buyers for its cars, which range in price from about $10,000 to as much as $100,000.
Orbiters vehicles have been on sale in New York City since 2012.
Orbital is the parent company of Orbitz Cars, which are leased to customers through a network of dealerships.
It has leased a fleet that includes two vehicles, a Ferrari 458 Italia, and a Mercedes-Benz G63 AMG, and is trying a fleet-wide strategy of leasing cars, with more luxury cars on the way.
Last year, Orbitz said it had more than 5,000 cars in inventory.
Orbit has said that it plans to lease more cars to customers.
“We’re looking to create more vehicles that are a little more premium,” CEO Chris Sacca said.
“And we’re also looking to build out more luxury car stores, more fleet stores.
We’re going to expand our network of luxury car dealerships.”
The luxury car market has seen a boom in recent years, driven in part by the rise of online shopping and a rise in luxury car rental.
But the popularity of the vehicles has made them more expensive.
A 2017 study by the National Automobile Dealers Association found that luxury car sales had fallen 4.7 percent in 2016 compared with 2015.