Latest Trends in the Car Rental Business

Car rental services, like any business, need to keep pace with changing trends in the world; trends that will shape the industry in the years to come. A trend customers use more often are car hire comparison websites, such as: car hiring comparisons in the UK. Besides comparison sites, here are five trends in the industry that will unfold in the years to come.

Connectivity

Connectivity will be a key factor in the car rental business. The use of the Internet and technology based on it has made headway to improve the commercial prospects, ranging from biometrics to streamlining customer service. Newer innovations are also being tested to emulate the more human nuances of driving and reacting faster to road anomalies and other issues commonly encountered by motorists.

Innovations in Artificial Intelligence

Artificial Intelligence (AI) is keeping abreast with connectivity. If there is anything AI will have to do with the car rental business is when autonomous vehicles will be introduced where human drivers will be done away with. Another area is in vehicle inspection to cut down on maintenance costs. Some car rental companies have already teamed up with technology firms in this regard and there is a likelihood, the stuff we see in sci-fi films and TV shows may someday become a reality and the car rental business may manifest it.

Subscription Packages

With the trend moving away from ownership to sharing, subscriptions might be viable alternative for car rental firms. This is ideal for customers who might need a vehicle for a long-term without the need to own one. The reason behind program this is flexibility, which is seen to attract new customers. Several companies like Enterprise and Hertz have started and it will not be long, other companies might follow suit.

Car Rental Accommodations in Airports

Airport consumers rake in big money for car rental companies and they are in an advantageous position since are considered steadfast tenants. As such, airport management has taken steps to make things easier for them to do their business such as providing them a dedicated terminal. What can be gleaned here is the car rental business is a serious player who is good for other’s business.

More Profits despite Ride-Sharing

The entrance of ride-sharing businesses like Grab and Uber might make people think renting a car would become a thing of the past. However, the car rental business is not about to go down without a fight and the “Big Three” companies – Hertz, Avis and Enterprise are still raking in profits and show no signs of slowing down. But the key to their staying power is not only their wide global network, but also diversifying such as collaborating with ride-sharing drivers.