The American rental car industry is worth over twenty-one billion dollars, according to a top trade publication known as Auto Rental News. By 2007, the larger-than-ever industry collectively maintained nearly two million vehicles rented from over 16,500 locations.
Through experience and thorough market research, EV Transportation has arrived at the decision to expand its operations in one particular segment - the replacement market. Unlike the airport segment of the industry, which suffered greatly following the events of September 11th, 2001, the replacement market has shown itself to be more consistent in its growth, and highly resistant to the effects of a recession. Quite simply, there is always a need for temporary vehicle replacements; whether for businesses or individuals, in instances of theft or repair. This perpetuating dynamic makes for drastically-reduced marketing costs as compared to other sectors of the industry.
EV Transportation considers Enterprise to be its biggest competitor in the local and replacement markets based on the companies’ sharing of the same basic strategy. The strategy allows young franchisees the ability to run their locations however they choose, as long as it is keeping with the overall corporate philosophy and spirit. It is this flexibility that has made Enterprise so successful, and through a similar strategy does EV intend to secure a more substantial market share.
Also contributing to EV’s attractiveness as an alternative to the larger companies is its status as the industry’s most environmentally-friendly competitor. It remains so by renting only electric hybrids and low-emission vehicles.
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