Posts Tagged ‘National’

Enterprise to invest in growing electric fleet

Friday, July 15th, 2011

Enterprise Holdings has announced that it will be investing in growing its fleet of electrically powered vehicles as well as improving its infrastructure by upgrading facilities and introducing more charging stations. The car hire giant also said it was the first company in the US to introduce the Chevy Volt into its electric fleet.

Currently, Enterprise supplies customers with a range of EVs including the Nissan LEAF, the Mitsubishi i-MiEV and the Peugeot iOn. The company will be growing the number of electric vehicles available through its WeCar programme, business schemes and Enterprise branches in territories such as Seattle, San Francisco and Portland.

In a statement, Enterprise chairman and CEO Andrew Taylor said it was vital to the future of the car hire industry to keep vehicles economically viable and acceptable to the consumer. He added that 1.6 million vehicles are introduced by the industry every year, and the way in which those vehicles are powered is going to become increasingly important.

Lisa Martini, a company spokesperson, said Enterprise intended to use 5,500 branches around the US to introduce more customers to the latest alternative technology. She added that the introduction of more EVs would help Enterprise to become more environmentally friendly.

Over the coming five years, Enterprise is aiming to reduce the amount of energy it uses, along with related costs, by 20 per cent annually. By doing this, the firm said it would save around $50 million. As well as Enterprise Rent-A-Car, the firm operates the National and Alamo brands.

Hertz announces solar power plans

Friday, February 11th, 2011

Hertz, one of the world’s best known car hire brands, has announced a new initiative to introduce solar power to selected locations across the US. The plans involve retrofitting facilities with photovoltaic panels similar to the ones installed at the company’s outlet at Denver International Airport in December last year.

Currently there are plans to upgrade 16 locations with the intention of growing the initiative into the future. Hertz senior vice president, Richard Broome, pointed out that the company was continually striving to implement environmentally friendly practices. He said that it had already made large savings on the amount of water being used as well as supplying customers with the option to hire low-emission and electric vehicles.

Hertz has already announced plans to offer its customers the Chevrolet Volt, an electric car designed for extended journeys. The firm will also roll out the Nissan Leaf at a number of locations across Europe and the US as the cars become available, and Californian customers will be able to get their hands on the Coda EV early next year.

Rival car hire giant Enterprise is also aiming to offer more electric solutions. The Chevrolet Volt is already available, and the company will be introducing the Leaf and the Coda EV to its forecourts as soon as they are released.

Enterprise, owner of the Enterprise, National and Alamo brands has also committed itself to reducing its energy bills by around 20 per cent over the next five years. To this end, the firm has announced a $150 million investment plan.

Avis steps in to acquire Dollar Thrifty

Thursday, October 7th, 2010

Dollar Thrifty’s management was foiled in its attempts to reach a deal with Hertz last week by its own shareholders. The day before the vote on whether to accept Hertz’s offer, which equated to $50.88 per share, Hertz announced that the offer would be its last. It is believed that shareholders voted against the offer because Avis had announced that its counter offer of $53 per share would remain on the table.

Avis has said it will now work with Dollar Thrifty to persuade antitrust regulators that a tie up will not breach competition guidelines. The antitrust issue is believed to be one of the main reasons Dollar Thrifty’s board favoured a deal with Hertz, even though Avis has offered more money for the firm.

Dollar Thrifty has asked Avis not to pursue its bid until the authorities give approval for a deal. Avis has said it is willing to wait.

The battle for Dollar Thrifty has been going on for months. Both Hertz and Avis believe the acquisition of a budget car hire brand like Dollar will help grow revenue at a time when the business traveller is noticeably absent.

Consolidation is also seen by many as a way of ensuring future growth. In 2002, the company which owns Avis bought the Budget brand. In 2007, Enterprise’s parent acquired Alamo and National. According to IBISWorld, Enterprise and its subsidiaries now have a market share of 37 per cent; Hertz owns 20 per cent and Avis currently has 17 per cent. Dollar Thrifty has less than seven per cent.

Enterprise continues strong performance in 2010

Friday, October 1st, 2010

Enterprise Holdings, the umbrella company which operates Enterprise Rent-A-Car, Alamo Rent A Car and National Car Rental, is celebrating the highlights of the 2010 financial year. The world’s largest car rental service provider ended its fiscal year on 31 July with a four per cent increase in revenues of $12.6 billion. In 2009 the firm declared revenues of $12.1 billion.

Enterprise said the results indicated improvement across all of its worldwide operations. Chairman and chief executive, Andrew C Taylor, said the strong results for the last financial year were due to a tightening of costs, improved customer service and strong management. He added that the last few years had been a struggle, but Enterprise had managed to rise to the challenge of the difficult economic conditions.

The improved financial results are a reflection of the successful integration of the Alamo and National brands and a continued strong performance by the flagship Enterprise name.

Taylor said the acquisition of Alamo and National in 2007 was continuing to show long term pay offs. He added that the combined performance of all three brands would provide the momentum needed for continued growth through the 2011 fiscal year.

In recognition of Enterprise Holdings’ improved financial performance, Standard & Poor Ratings Services pushed its long-term rating for the company up from BBB to BBB+ in February. S&P said it had decided to do this because the firm continued to prove it had strong cash flow, had managed to substantially reduce its debt and had strengthened its credit ratios.

One-way vehicle rental deals offered in Arizona

Monday, March 29th, 2010

Holidaymakers planning to take a vacation in the West can do it for less using a car hire promotion. Several firms are currently offering one-way car rentals for users in Arizona or the Northwest. This car rental deal is similar to the earlier promotion offered in Florida.

The recent promotion was due to rental companies’ strategy to reposition their vehicles coming from various winter vacation destinations and to distribute them out for the summer holiday season. They let their clients do it for them by giving out rental promotions.

Sometimes, one-way rentals that do not have a promotion can be quite pricey. Some companies, for instance, charge $1,000 rental fee from Orlando to Washington DC for a week.

With the latest offering, clients can take advantage of a cheap rental deal while vehicles from the car hire firms get moved. Companies like National and Alamo are now offering one-way rentals starting at $17, with pick up points in Mesa, Phoenix, Glendale or Scottsdale in Arizona.

Meanwhile, they have drop-off points in cities across California, Kansas, Cleveland, Las Vegas, and Medford, Portland, Eugene or Redmond in Oregon. Also under the one-way deal, minivan hire will only cost customers $21 per day.

Meanwhile, Avis has the same promotion as well, with vehicle rentals starting at $16 per day.  Under the scheme, clients can pick up the vehicle at several locations across Arizona, and drop them off later in Yuma and centres across California and Nevada. Avis one-way deal is available for a maximum of seven days.