News from the Car Rental Industry: The Ultimate Test-Drive

In 2013, Enterprise Holdings conducted a survey to get a better understanding of the relationship between renting a car and vehicle ownership. They did it again in 2015, and most recently in 2017, with all results confirming that customers in every age group rent cars as a means of testing those they are considering for purchase.

rental Cars The Ultimate Test-drive

Millennials in particular (those now aged between 25-40) believe that car ownership is essential to daily life. They would apparently rather be deprived of social media, lose sleep or skip meals than have to go through life without a vehicle.

Almost 30% of new cars are purchased by this generation of consumers, far more than their Gen X predecessors.
Almost 54% of millennials purchased a car in the United States in the last two years – and 68% of them were influenced by their experience with a rental vehicle.

RENTAL CARS THE ULTIMATE TEST-DRIVE

The younger the purchaser, the more likely they are to be swayed by a feature or experience they had with a rental vehicle, but almost 70% of customers in all age groups suggested that their rental experience had a bearing on their future choice of vehicle.

Through the car hire market, many customers are introduced to makes and models they may not have considered before, and almost half experience some type of new feature or technology when they rent a car.

The Enterprise surveys include customers of National Car Rental and Alamo Rent A Car, and the results can be applied with some measure of confidence to the entire car rental industry. The bottom line is that the Baby Boomer love affair with the car might have skipped a generation, but has been reignited with a passion by a group of Millennials who can’t imagaine getting to work or going on vacation without one.

The car rental industry has traditionally focused on meeting the needs of business and holiday travellers. The Enterprise surveys, however, reveal that a significant share of the market is to be found among those who are looking for an extended test drive.

This will undoubtedly influence the selection of vehicles available for hire in the future, with car rental companies continuing to diversify their fleets to provide clients with increasingly interesting, and innovative, options.

Having worked in the car rental industry for over 15 years, he really knows his stuff. Rob heads up our marketing department and as a keen traveller, always has a new location to talk about. Particularly if there is a golf course nearby.