According to The Monitor, car rental companies experienced a jump in business after a hailstorm damaged many personal vehicles in the Rio Grande Valley region of Texas in late March. Hundreds of vehicles were left with damaged windshields, windows, lights and overall exterior leading many drivers to rent a car, the article states.
While drivers waited for their vehicles to be fixed, they first went to major car rental providers for a vehicle, but then started looking into small companies when the companies became backed up, reported one small operator in the area Aleman Auto Rental.
Car rental companies, such as Enterprise and Hertz, reported that they had to truck in extra vehicles to cover the high demand, which is expected to continue for at least two more months.
For the full article from The Monitor, click on the URL: http://www.themonitor.com/news/hailstorm-60208-mcallen-rentals.html
The revenue increase was driven primarily by a higher net revenue margin associated with two new subscription tiers launched in the second quarter.