Enterprise Rent-A-Car Releases First Quarter 2015 Rental Data
Slight Decrease in First Quarter Length of Rental Bucks Two-Year Trend
ST. LOUIS, May 22, 2015 /PRNewswire/ -- The national average length of replacement rental (LOR) decreased in the first quarter 2015 for the first time in two years. Showing a slight 0.1-day decrease from 2013 to 11.5 days, the quarterly data gathered by Enterprise's Automated Rental Management System (ARMS®) tracks the length of time a replacement vehicle is rented to collision center customers and is considered a proxy for vehicle repair time.
"A variety of factors likely drove the slight decrease in LOR, including more mild Midwest weather conditions despite record snowfalls in the Northeast," said Frank LaViola, assistant vice president of collision industry relations, Enterprise Rent-A-Car. "The type and complexity of vehicles paired with existing vehicle repair methods also play a continued role in repair time fluctuations."
Regional variances contributed to an overall LOR of 11.5 days in the first quarter, with the Midwest experiencing the largest decrease nationwide at 0.6 days from the same time last year.
ARMS data also showed that the type of vehicle – domestic or international – also made a significant difference in LOR. Vehicles designated as European took the longest by more than 1 day, with domestic and foreign models taking close to the same amount of time to repair.
| Length of Rental by Vehicle Type: January – March 2015 |
|
| Designation |
Average Billed Days |
| Domestic |
11.03 |
| European |
12.45 |
| Foreign |
10.89 |
Enterprise began sharing length of rental information – at no cost – with collision repair centers six years ago in an effort to highlight below-market-average cycle times and provide critical performance data for consistent industrywide comparisons. Today, these LOR metrics have gained traction with insurers and repairers as a means to track and improve cycle time.
In fact, a newly released I-CAR white paper details Q1 Enterprise Rent-A-Car LOR data on Gold Class® shops. The data shows, in many areas – such as vehicle repair time – Gold Class shops with well-trained technicians outperformed others in the collision industry.
Previous Enterprise data indicated that insurance companies can significantly improve turn-around times when they refer policyholders to collision repair centers using ARMS. CollisionWeek magazine and Mitchell Industry Trends Report also regularly publish the Enterprise data as a comprehensive industry resource. In addition to the regional information, state-by-state data is also available.
ARMS data helps collision repair centers increase operating efficiencies, enhance customer service and streamline communications with insurance companies and customers. The ARMS digital management platform enables repair centers to book rental reservations and send vehicle status updates to insurance partners and customers. In addition, repair centers can track, measure and forecast labor needs, and generate monthly reports through ARMS.
With more than 5,500 fully staffed airport and neighborhood offices located within 15 miles of 90 percent of the U.S. population, the Enterprise Rent-A-Car brand is able to provide replacement rentals to customers of collision repair centers and insurance companies all around the country.
To learn more about Enterprise Rent-A-Car, visit www.enterprise.com. To learn more about the ARMS Automotive Suite, visit www.armsautosuite.com.
About Enterprise Rent-A-Car
Founded in 1957, Enterprise Rent-A-Car is an internationally recognized brand known for an extensive network of locations, affordable rates and outstanding customer service. When severe weather and natural disasters strike, the Enterprise neighborhood network plays an integral role in mobilizing the local recovery efforts of insurance providers, emergency response organizations and repair shops. Enterprise Rent-A-Car's local branches and its insurance and collision partners also can leverage the company's evolving technology platforms, such as ARMS and the Priority Pass program.
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SOURCE Enterprise Rent-A-Car
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