Rate-Highway, Inc. a provider of revenue optimization services for car rental, and Fleet Consulting Association, Inc. (FCA), a provider of decision-making intelligence and technology for the fleet and car rental industries, announced a partnership on June 1 to provide car rental providers with business decision-making tools, according to a press release.
The partnership integrates Rate-Highway’s RateMonitor Elite car rental rate management system with FCA’s Fleet Valuation System. The collaboration gives vehicle rental agencies the tools to ascertain the types of vehicles that would be most profitable in the operator’s markets, as well the best times to sell vehicles.
The system uses market intelligence, current pricing, and utilization data combined with current resale market data from JD Power and Manheim to optimize fleet mix for both rental and sales. Car rental operators can also determine the best time to move a vehicle from the rental fleet to sales, enabling them to maximize the revenue from both sides of the car’s lifespan, according to the release.
“Car rental has always been two pieces of a puzzle — one is pricing rentals optimally to drive revenue, and the other is selling the car at the optimal time to further increase revenue,” said Roger Zakharia, CEO of Fleet Consulting Association, Inc. in a statement.
“Car rental operators can now experience the power of Rate-Highway’s revenue optimization while simultaneously accessing relevant fleet valuation critical to planning and achieving strong profit margins in real-time,” he continued.
"The pandemic and car supply shortage over the last two years has really taken a toll on car rental operators,” said Michael Meyer, president and cofounder of Rate-Highway. “This collaboration gives operators the tools to ensure they are in the best position to ensure maximum revenue generation.”