While the beginning of the car hire industry is a little hazy, it is believed that an American by the name of Joe Saunders was the first entrepreneur to start renting his cars for all of ten cents a mile with none other than the Model T Ford. As was the case with many savvy businessmen at that time, Joe Saunders eventually went bankrupt as a result of the Great Depression.

John Hertz (owner of The Yellow Cab Company) bought out another American by the name of Walter Jacobs who like Joe Saunders; saw a unique opportunity in the marketplace. Eventually John Hertz sold his company to General Motors, all but guaranteeing the survival and success of Hertz’s company. Hertz was the first rental car company to place a rental desk and depot at an airport (Chicago’s Midway Airport) in 1932. Hertz Rental Car became, and remains the largest rental car company in the world.

After World War Two, air travel began to flourish, and the car rental industry Tadacip went along for the ride. Enter Warren Avis (a former army pilot), another well known entrepreneur who had the foresight to base virtually his entire operation within (or close to) airports around the country. He wisely persuaded the airlines themselves to help him promote his rental cars. Another car rental company was born around this time, The National Car Rental Company (whose founders included the recognized pioneer, Joe Saunders).

In the early 1970’s, the industry turned to the used-car business for an additional revenue stream. Typically, used cars were sold to wholesalers, who then sold them to used car dealers. But selling directly to the consumer became very profitable with Hertz becoming the largest used car dealer in the United States by 1980.

As the industry grew and competition Brand Levitra increased in the 1970’s and 1980’s, many companies in the industry were struggling. Price wars, incentives, and bonus programs were eating at the bottom line for virtually everyone. In the 1980’s, the automotive manufacturers saw the car rental companies (their single largest customers) as a lock for sales, and bought controlling interest (or bought out completely) many of the leading car rental companies.

In the early 1990’s, it is estimated that approximately 10 percent of all domestic sales in the United States were comprised of purchases by the car rental companies. It didn’t hurt that the industries customer base was consistently exposed to the latest models either, an excellent marketing strategy for the manufacturers.

The industry has sustained relative consistent growth over the years; however there have been challenging periods of time for the car hire industry. Many factors such as 9/11 and the global recession have recently caused inventories to be decreased in order for companies to better manage supply and demand; however the percentage of online bookings continues to increase year after year, and the industry as a whole remains profitable. The history of car rental is a remarkable history indeed.

Author Bio: Pageviews works with Aspect Car Rental. The car hire has evolved over time and remains profitable. For more information about Aspect Car Rental visit http://www.aspectcarrental.com .

Category: Cars and Trucks
Keywords: Car Hire