Experts suggest that owning things will be a thing of the past by 2030. The new concept of shared economies and pay services will be more accessible and convenient for the newer generation of people. They call this the “rentership society”, but whether it will come to fruition we will have to wait and see.
The car rental industry stands right in the middle of this new “Shared economy” concept. Car rental companies are running huge operations and making maximum profits. This all comes down to the decades of experience in fleet management, loyal returning customers, the knowledge of knowing how to maintain their vehicles, and of course, the tech that is helping them manage it all.
Technology is making life better for us in nearly every department. Whether that’s back at home or at work, it’s certainly something that past generations would be much more grateful if they had.
Those that are smart and utilize these technologies will be the ones that reap the rewards from them.
We won’t keep you from the main purpose of the article anymore, so let’s get straight into the technologies that car renting companies use.
1. Fleet Utilization Technologies
Crucial challenges persist in every industry, but it’s the challenge of fleet utilization that poses the largest threat to the car renting industry. Data is considered as the new oil for the car renting industry, and it creates a huge opportunity to better deal with the concept of fleet utilization.
Car renting companies utilize tech that allows them to predict the demand for their services. This allows companies long-term insights that will help them be more proactive instead of reactive when utilizing their fleets of vehicles.
2. Maintenance Technologies
According to www.cruisinmaui.com, yet another difficult challenge that poses a threat to any car renting company is the need for maintaining their fleet. AI-based technologies can help shed some light on the issue since multiple parameters help tell a company when their vehicle needs a maintenance check.
And while some of these problems are easily detected, such as mileage or time, others can be more difficult to detect and analyze for future references. Some of the more difficult parameters to detect include fleet telematics data, vehicle data that’s been collected through time, external factors such as weather, conditions and driving patterns, etc.
3. Customer Satisfaction Technologies
Customer satisfaction is very important when it comes to running a business. When it comes to customer satisfaction in the car renting industry, we are talking about specifically tailoring the customers’ needs with the vehicle in question. By this, we are talking about pick-up-time, car type, car model, destinations, and even more detail-orientated parameters such as children’s car seats, racks for carrying sports equipment such as skis, bikes, and even snow tires.
Since every business is currently in the transformative stage, customer satisfaction can oftentimes be quoted as the most important thing companies should focus on. One thing that car renting companies have over the rest of the industries is that they can utilize tech that allows customers to customize the cars based on their needs. AI tech can also be helpful as it can predict the preferences of customers based on patterns it detects.