Enterprise Rent-A-Car Reports Slight Rise in Fourth Quarter 2015 Length of Rental Data
National Average Length of Rental for Calendar Year 2015 Increased to 11.5 Days
National Average Length of Rental for Calendar Year 2015 Increased to 11.5 Days
ST. LOUIS, Feb. 24, 2016 /PRNewswire/ -- The national average length of replacement rental (LOR) rose slightly in calendar year 2015 to 11.5 days overall, according to the latest research from Enterprise Rent-A-Car. Compared with calendar year 2014, the LOR increased 0.3 days and was up 0.08 days from 2010.
The data, gathered by Enterprise's Automated Rental Management System® (ARMS), tracks the length of time replacement vehicles are rented to collision center customers and is considered a proxy for vehicle repair time.
"Lower gas prices and an increase in miles driven have contributed to an increase in accident frequency, as more vehicles are on the road," said Dan Friedman, assistant vice president of collision industry relations and strategic sales for Enterprise. "Total loss vehicles have also increased over the past two years, contributing to the rise in LOR."
The upward trend in cycle time continued in Q4 2015. The U.S. average LOR for the quarter was 11.9 days overall, up .5 days from Q4 2014.
California, as a region, saw the largest increase in LOR – up one full day over the year-ago quarter. An increase in accidents due to El Niño-related weather events likely played a role in the fourth quarter rise. This trend is expected to continue into the first quarter of 2016.
The Mountain region experienced the only regional decline in LOR dropping 0.2 days to 12 overall. The largest decrease came from Wyoming, which was down 0.9 days. Colorado followed closely behind with a 0.5 day decrease in LOR.
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. Although ARMS can help to decrease the duration of rental periods, Enterprise has embraced the system as an opportunity to increase customer service and provide added value to its collision repair and insurance partners.
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 5,000 fully staffed 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 http://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. 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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