As it is closely affiliated with the tourism and hospitality industries, car rental agencies or taxi services business are generally viewed as a stable investment channel that has untapped potential for revenue growth. Limousines are an elegant and comfortable means of transport, and are far more preferred than plain rent-a-car arrangements.
CAR is no longer just a car-rental company.
GOOGL to provide service for Waymo's fleet of self-driving vehicles, and that was just the opening salvo of a push to better align the business with some potentially revolutionary tech trends. I recently had the chance to discuss Avis Budget Group's connected car, autonomous vehicle, and fleet-management-as-a-service FMaaS initiatives with the company's chief innovation officer, Arthur Orduna.
Read on for a deeper dive into some of the moves that Avis Budget is making in order to capitalize on big changes that are on the horizon for the mobility industry.
Continue Reading Below Keith Noonan: As chief innovation officer at Avis Budget Group, you've got a unique vantage on some of the big trends that are reshaping an industry that most people interact with daily.
How do you see the mobility industry changing going forward? We envision a world where mobility is completely connected, integrated, and on-demand. In this world, consumers are free to allocate time and money to more productive, meaningful, and healthier pursuits; companies will increase productivity and innovate new products, services or even entirely new business models; and communities will streamline the movement of people and goods and facilitate greater connectivity between citizens.
Consumers and businesses in the not-too-distant future will access mobility via distributed, on-demand fleets of shared, electric, connected — and ultimately autonomous vehicles.
Today, the race to win that future is occurring at every level of the mobility stack -- from those who provide mobility services, to those who make the vehicles to those who take care of the vehicles themselves.
Our belief is that fleet management and operations are a critical and often overlooked component of the mobility stack.
In order to enable the distributed on-demand fleets of tomorrow, operators will need to add value in the service provisioning level, above and beyond maintenance and repair. Operating at this level requires a company that is truly global with people, facilities, and systemsis deeply experienced in fleet management, has a scalable technology platform and experience building products and services around consumers who embrace mobility as a service.
Avis Budget Group is exactly that company. The partnership with Waymo and broader move into autonomous-driving services are big opportunities for Avis.
What do you see as some of the risk factors that come with that opportunity and what is the company doing to prepare for and overcome them?
We are currently focused on rapid learning and further enhancing our operation with digitization. The latter is likely the biggest opportunity and challenge, because with digitization comes lots of data -- and we are preparing ourselves for how to best analyze and utilize that data for the benefit our customers and operations, initially.
We currently have the largest connected car fleet in the world and are aiming for a fully connected fleet by These connected cars deliver critical data including mileage, fuel level, and vehicle condition, and leveraging this data will greatly benefit both our operations and our customers' user experiences.
Operationally, for example, these cars send us specific data in real time so we address maintenance needs quicker and more efficiently, which means the right vehicles are available for customers in record time and with the greatest optimization of resources.As an international corporation, and as a local business in the neighborhoods in which we operate, Avis strives to be a strong community leader & role model.
Drive Happy® with the new Alamo Rent A Car app. Create a reservation faster than ever, easily view or modify upcoming reservations, and get directions to your rental location. Oct 14, · Increasing demand from emerging economies, surge in public awareness about car rental services, rising global tourism industry, introduction of new business concepts, increasing number of Internet users and increasing international tourist arrivals are some of the major factors driving growth of the global car rental market currently. Avis Fleet for comprehensive services that will take the strain out of managing your fleet.
Learn More Luxury Car Types. Get into the rental business business from the Entrepreneur list of business services business ideas. Avis is a leading rental car supplier to the premium commercial and leisure segments of the travel industry and Budget is a leading rental car supplier to the price-conscious segments of the industry.
Car rental is a wide-spread practice that people all over the world are familiar with. Regardless of the fact that you are on vacation or in a new area with business, you need a car .
Feb 10, · Rental cars are seen at a Budget car and truck rental franchise in Mount Prospect, Illinois. - Tim Boyle/Getty Images News An "I've always wondered " two . A limousine rental business is always perceived as a good investment choice regardless of the temperament of the economy.
As it is closely affiliated with the tourism and hospitality industries, car rental agencies or taxi services business are generally viewed as a stable investment channel that has untapped potential for revenue growth.