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Throw technology, growing tourism markets and more exploratory customers into the mix, and it makes for an exciting time in the car hire sector.
Moves towards more hybrid vehicles, greater choice and increased regulation all have a part to play too, especially after some of the negative headlines that plagued the sector in 2017.
Customer transparency is at the forefront of the agenda for this year, supported by new regulations from the Competition and Market Authority.
This means customers are more aware of their rights and are in a better position to challenge any practices they are not happy with.
Camper van hire has increased among younger people according to Affordable, while larger vehicles are also proving more popular.
Flexible Autos and Hertz also report rising demand for convertibles, with customers keen to explore America’s iconic Route 66 in a Ford Mustang for example.
Bike hire is also popular, with demand for Harley Davidsons taking off in both Europe and the Middle East.
Electric vehicles have been in development for many years, but a growing number are now on the road and more charging points are being installed. Demand for hybrid vehicles is also rising.
Connected vehicles could soon be the go-to for car hire firms, as many look to develop apps that can deal with the vast majority of business issues.
From booking and managing car hire services to potentially unlocking vehicles, customers may soon find that the whole process is easier.
Avis Budget Group is already working on developing technology that allows it to measure a car’s performance and keep track of it in real time.
Thousands of vehicles should become connected this year, while other hire firms are exploring the possibilities of connecting their services with those of other transportation firms, such as airlines, buses and railways.
A global business
Car hire remains a popular option in many parts of the world for holidaymakers thanks to the flexibility it provides.
The USA and Europe have thriving rental markets, while growth in Australia and the Far East continues at pace.
If you plan to hire a vehicle for your next trip, the key is to book early as this should mean a greater choice of car, and potentially lower fees.
It may also be worth investing in a car hire excess policy to provide peace of mind should your hire vehicle be damaged or stolen. Get a quote today to see how much a policy could cost.
Date Created: 28/02/2018