The technology firms connect products to provide advanced pricing engines to increase the competitive tools available to rental car operators.
While rental car companies continued to grow business in 2023, the rate of increase since the pandemic is easing back to normal levels.
The technology can enable rental fleet, mobility, and infrastructure operators to react instantly to market conditions and scale up their revenue.
Customers are spending more to travel more this year as penned up demand likely will yield to a more normal price-competitive market.
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.
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.
A real-time, two-way integration between the two companies' systems will ensure the most accurate pricing is reflected to customers.
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.
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.
The analytics application utilizes leading indicators to help car rental companies verify and rectify issues in their pricing strategy.
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