Enterprise CEO says rental car prices have moderated as supplies have improved but remain high

abcnews.go.com:

When Enterprise started to see automobile supply problems after the pandemic hit in 2020, the car and truck rental, fleet management and mobility company decided to cater to its long-term customers

DETROIT — When Enterprise started to see automobile supply problems after the pandemic hit in 2020, the car and truck rental, fleet management and mobility company decided to cater to its long-term customers.

Chrissy Taylor, CEO of the newly renamed Enterprise Mobility, emphasized rentals to businesses and insurance companies with clients whose cars were damaged in crashes.

Now that travel has made a comeback, Taylor sees rental cars growing again, but says most of the St. Louis-based company's business is still with its core customers.

Enterprise is now up to more than 2.3 million vehicles in its fleet, more than it had right before the pandemic.

Taylor talked with The Associated Press about where her business is headed, the resurgence in travel, and rental prices. The answers have been edited for length and clarity.

A: A third of our business happens in the airport and two-thirds happens in our suburban market. And our suburban market has been growing exponentially with our contracted business, which includes the corporate customers and the road warrior. They are back and they do travel regionally. So we do have a lot of that business, not just at the airport but in the home city, and then insurance replacement. People still have been driving the last several years, even with the pandemic. So accidents happen. And so we have long-term relationships with insurance partners. That business has also been back on track. Travel demand was through the roof, through the summer. We have also experienced that both domestically and