Enterprise no longer wants to be known for just car rentals

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Enterprise Holdings, the world’s largest vehicle rental company; It changed its name to Enterprise Mobility. Last month, the company said it was meant to reflect its expansion beyond the car rental business for which it is widely known.

Although the new name may call a mobile phone company, the “mobility” in question refers to helping customers get around, truck rental, vehicle fleet management for small businesses, car sharing or temporary transportation methods after the motor. danger.

“We are much more than a rental car company,” said Chrissy Taylor, CEO of the enterprise. Chance. The three top-rated rental brands ranked by JD Power are corporate, but renting a car to individuals is a tough job. (eg Hertz Holdings Provides bankruptcy protection In the year In early 2020, under a mountain of debt, and re-emerged in June 2021.) The car rental industry is subject to the ups and downs of the second-hand car market, as these agencies dispose of cars after a certain distance. The industry faces pressure from the high cost of managing thousands of locations and hundreds of thousands of automobiles. Moreover, the people He doesn’t particularly like the sector. This is due to problems in picking up the car and the price increase in the last couple of years.

The enterprise’s desire to expand beyond its core car rental business When his grandfather founded the enterprise in 1957 as a car rental company, Taylor helped it make $35 billion last fiscal year. He took power in 2019. Today’s business is more than just income Avis Budget Group and Hertz combined. It has a significant presence in truck rentals and small business fleet management and is making more international inroads than its rivals.

To drive this, Taylor wants Enterprise to be everywhere in the foreign markets where it operates in the U.S., such as Britain and France, and she plans to integrate electric vehicles into Enterprise’s fleet and better manage technology. 2 million vehicles under it.

This interview has been edited and edited for clarity.

Why change the name of the parent company if everyday people don’t know the difference since your company is comprised of several consumer-facing brands like Enterprise, National, and Alamo?

It more accurately and accurately describes who we are and what we do today. My grandfather founded us as a leasing business in 1957, and 65 years later, we have evolved in geography, customer segments, and products and services. We are more than a rental car company.

Is the name change a result of a desire to distance an enterprise that is particularly unpopular with consumers from the rest of the car rental industry?

We have nine different businesses, and each one can grow. We love renting, and we will continue to invest in that space. But there are so many experiences we can offer our customers. We need to tell our story better, and Enterprise Mobility helps us do that and position ourselves in the market.

Three of your rental brands are rated #1, 2, and 3 on JD Power Rentals. Car satisfaction survey last month. What do you think they do better than competitors Avis and Hertz?

Our philosophy is to take care of our customers and employees first, then everything will fall into place. So things like advanced check-in, where you provide your rental information in advance and you can bypass the counter.

Where does workforce training fit in with trying to create a focused and integrated workforce?

Most of the people we hire enter our management training program. We want to teach you all aspects of running a business. This means marketing, profit and loss, customer service, and developing employees, so basically an MBA is getting their job done. It’s a competitive advantage for us. We want people to think of us as a job, not just a job. As they come through our system, they can branch out, and it feeds into all of our other lines of business. Ours Retention rates have never been better.

Your opponent in 2021 Hertz He announced It has placed an initial order for 100,000 Tesla Electric vehicles (EVs), however, are still a modest part of rental companies’ fleets. What is your attitude towards them?

We welcome the responsibility and opportunity to transition our fleet to EVs. The key is to take a long-term view. As a privately held enterprise, we don’t have to manage it from quarter to quarter, so we want to be strategic. When we think about EVs, we want a superior customer experience. But these cars are different, and have new technologies that most people don’t know about. We know it exists region stress (fear that an EV does not have enough power to reach its destination) and we need to make sure there is a charge. So, we have a team that works with utilities and the infrastructure that we need.

What about autonomous vehicles? Can they finally be part of your fleet?

Autonomous vehicle (AV) technology is more advanced. We are actively engaging with partners in the mobility space to evaluate them. Our priority is to increase our understanding of AVs.

What about car sharing? Why not take it up in a big way?

While it is growing, it is much smaller than our other business lines. The business-to-business (B2B) segment is on the rise, with employers having fleets of vehicles to provide to employees for appointments, day trips, or whatever.

You and your competitors are rushing to digitize your cars so they can be controlled and maintained remotely. That eliminates the need to use apps and smartphones in lieu of keys and the need to physically meet with an agent. Is it possible to imagine that the rental counter will disappear one day?

I believe technology leads to a streamlined experience where you don’t have to go to a counter. But we have all kinds of customers: the business renter, the leisure visitor, the road warrior, the B2B customer, the insurance replacement customer, and I think everyone needs something different. Take insurance replacement cars. This is often a less common tenant, including their insurer, body shop, and so on. Or someone who wants to buy a car from us. That would be very difficult to coordinate with technology alone and without people.

Do you ever worry about climate change causing travel disruptions and organizational disruptions?

We want to make sure we do our work with future generations in mind. For business rentals, for example, we want to help those businesses achieve their sustainability goals. We want to develop business lines that benefit the environment, such as carpooling and vanpooling. When climate change happens, there will be more pressure to do the right thing.

You are the granddaughter of a company founder and the daughter of a former CEO. How has it affected your growth in the company? Were former bosses or colleagues wary of being too hard on you?

I started as an apprentice in 1995, and it was clear from the start that I was doing the same thing as everyone else. Sometimes I thought, ‘Now I understand what my father says at the dinner table.’ Now, I know I’m a CEO, and I’m a family member, and any CEO sometimes has trouble getting feedback. So asking for feedback is up to me.

Is there another generation of Taylors preparing for a top job in corporate?

I have two daughters, the oldest is 13, so it will be a slow roll. But you already understand what it means to be a good manager of the business, employees and customers. The most important thing for the family is to help the company and not be a hindrance. Because we love this business, I teach my daughters about our customers and employees first and foremost.

What if you don’t want to go into the family business?

And that’s good.

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