Avis research shows effects of recession on corporate rental trends
The Index has been developed to highlight emerging trends in the market, and has produced some interesting findings. The latest figures show that three quarters (72%) of Avis' UK corporate customers chose to rent compact and economy vehicles during the first half of 2010. Furthermore, 59% of business customers rented on a daily basis, with 8% opting for a long-term rental, according to Avis’ Business Travel Index.
The rental giant says that these latest findings indicate that despite emerging signs of recovery in the economy, businesses are still spending cautiously when it comes to travel and are looking for solutions to help ride out the downturn. This conclusion is further supported by the Index, which revealed more than half of all rentals (51%) are from "downtown" (non-airport) locations.
Anthony Ainsworth, UK sales director at Avis, said: 'Our Business Travel Index has allowed us valuable insight into today’s business traveller, and has revealed some very interesting trends. The recession has had a huge influence in the way our corporate customers are operating. A prime example is the increase in downtown pick-ups and daily car rental, which tells us businesses, particularly in the SME market, are recognising the value of face-to-face business with their customers and are looking to car hire to help strengthen those relationships.'
The Business Travel Index highlighted that companies are continuing to focus on their home markets, with domestic rentals up 3% year-on year. The figures revealed that the South East of the UK is still driving business travel forward, with one third (33%) of customers renting from stations located in the London and Heathrow Thames Valley regions during the first half of 2010.
In the UK in 2009, Avis says it saw double-digit growth in the business to business sector and this is anticipated to continue for the remainder of 2010.