“Having some daily rental fleet business is good for a [manufacturing] company. It can be used strategically, by ensuring the rental models are equipped with popular features. Rental fleets are one way to let consumers experience brands.”
Stephanie Brinley, Senior Analyst-Americas –IHS Automotive, March 2016
Every year, Enterprise Rent-A-Car, National Car Rental and Alamo Rent A Car customers log more than 30 billion miles throughout the world. And in the U.S. alone, Enterprise Holdings puts more than 1.2 million vehicles on the road, from virtually every airport and in nearly every kind of neighborhood.
Such numbers not only highlight the relevance and impact of the car rental industry, but also underscore Enterprise Holdings’ unique ability to meet consumers’ and businesses’ increasing demands for flexible, affordable and sustainable mobility options in thousands of communities of all sizes. As a result, Enterprise Holdings, the world’s largest car rental company, continues to operate as a significant part of the automotive value chain in today’s society – regardless of whether rentals are for an hour, a day, a week or longer.
Extended Test Drive
“We collaborate with our OEM partners to share insights we think they will find interesting.”
Kurt Kohler, Senior Vice President – Enterprise Holdings, March 2017
Enterprise Holdings’ relationship with automakers has always been and will always be mutually beneficial. And it is based on a shared commitment to providing the best transportation options for the long term.
Enterprise Holdings' fleet of “virtual cars” is well-positioned to quickly and efficiently introduce consumers to new innovations and vehicle technology, especially as transportation infrastructure and alternatives, including autonomous vehicles, evolve in the future. That means, with nearly 74 million transactions processed annually, Enterprise Holdings facilitates significantly more than a million “extended test drives” every week throughout the world.
In fact, our fleet introduces consumers to different brands and the latest technological advances in more than 450 makes and models, which, in turn, also helps OEMs (original equipment manufacturers) maintain and even grow market share. As a result, we continually look for ways to communicate and collaborate with our longtime manufacturing partners, from university promotions to exclusive access to newly designed vehicles and luxury exotics.
In addition, our special “Rate This Ride” program enables customers to evaluate vehicles on a scale of one to five in a variety of categories – such as styling, amenities and ease of use – and provide feedback to automakers. That is another reason approximately 90 percent of Enterprise Holdings’ fleet is now delivered with higher than base trim, a reflection of the market’s growing sophistication and increasing consumer demand.
Enterprise Holdings also conducts research to gauge customer attitudes about how the rental process impacts future car-buying decisions. For example, in 2015, Enterprise discovered that one in four customers reported that a positive rental experience triggered them to start shopping for a new car. Further, almost half of Enterprise, National and Alamo customers reported experiencing new vehicle technology for the first time in rental cars.
“[Fleet sales] allow customers who don’t know your brand to drive your car and see what you’re doing.”
Jose Munoz, North America Chairman – Nissan, April 2017
Enterprise Holdings’ fleet consists mostly of “risk” vehicles, which means we use our own remarketing network to sell off one-or-two-year-old cars, vans and trucks. This highly efficient, strategic sales channel includes a team who carefully calculates residual values and analyzes market trends to determine the ideal timing for resale, while also helping local dealerships find specific vehicles to sell to their customers.
The bottom line: Enterprise Holdings’ reputation for excellent vehicle maintenance as well as its diverse fleet helps protect the integrity of the used-car market for the long term. At Enterprise Holdings, "rental-ready" also means "retail-ready." If we wouldn’t rent a vehicle to one of our valuable customers, then we would not sell it to another consumer or a dealer.
“We like this business. It’s a profitable business for us. We manage it very well. For Ford, it’s product exposure. It’s very good business for us, and it’s run in a very disciplined fashion.”
Mark LaNeve, Vice President, U.S. Marketing, Sales and Service – Ford Motor Co., March 2016
Related Press Releases and Recent News:
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- Enterprise Exec Says Acquisition Has Come a Long Way
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- Top Enterprise remarketing exec: If it's rental-ready, it's retail-ready
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- Nine in Ten Millennials Say it's "Important" to Own a Car
- Volvo Partners with Enterprise Rent-A-Car to Assist All-New XC90 Customers
- How U.S. Car Rental Industry Operates As Significant Link in Automotive Value Chain
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