Enterprise Rent-A-Car Releases Third Quarter Length of Rental Data
Slight Uptick in Length of Rental Third Quarter National Average
ST. LOUIS, Oct. 23, 2014 /PRNewswire/ -- The U.S. average length of replacement rental (LOR) increased to 11 days in the third quarter of 2014, a slight increase over the average third quarter LOR for the last five years. 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.
"Several factors are likely contributing to the increase in LOR, including increasingly complex vehicles and an overall downward trend in the number of repair centers compared to previous years, as well as major weather events," said Frank LaViola, assistant vice president of collision industry relations, Enterprise Rent-A-Car.
While the national average increased to 11 days, up 0.3 days from Q3 last year, not all U.S. regions experienced an increase in their year over year LOR.
Enterprise began sharing length of rental information – at no cost – with collision repair centers five 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, Enterprise data from the first half of 2014 indicates that insurance companies are significantly improving turn-around times – by more than 25 percent – 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 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, which includes a privacy policy.
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. For more than 50 years, Enterprise has partnered with repair centers and insurance companies to help customers whose cars have been damaged or stolen. When severe weather strikes, the Enterprise neighborhood network plays an integral role in mobilizing the local recovery efforts of insurance providers, emergency response organizations and repair centers. Enterprise Rent-A-Car's local branches and its insurance and collision partners can also 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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