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The technology firms connect products to provide advanced pricing engines to increase the competitive tools available to rental car operators.
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While rental car companies continued to grow business in 2023, the rate of increase since the pandemic is easing back to normal levels.
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The technology can enable rental fleet, mobility, and infrastructure operators to react instantly to market conditions and scale up their revenue.
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Customers are spending more to travel more this year as penned up demand likely will yield to a more normal price-competitive market.
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According to an analysis by Trips to Discover, National Car Rental has been ranked as the best rental car company for its transparency, customer satisfaction, and no cancellation fees.
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In Iceland, the average car rental price for a week and one tank of fuel is $1,383.24, according to a study by Confused.com.
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A real-time, two-way integration between the two companies' systems will ensure the most accurate pricing is reflected to customers.
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With travel booming in warm-weather destinations and a shortage of rental vehicles due to the pandemic, some travelers are facing rental prices of more than $300 a day – or up to $500 a day in certain high-demand areas.
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The tool, which gives pricing and demand data for worldwide locations, reveals the significant yield management opportunity due to lower fleet volumes, said Andrew Pascoe, CEO of MarginFuel.
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The analytics application utilizes leading indicators to help car rental companies verify and rectify issues in their pricing strategy.
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