Avis Budget Group Inc. (CAR - Free Report) , whose strict adherence to the innovation mantra is exemplary, has been doing well with its mobile app since it rolled out the ‘Avis Now’ feature in July. The company revealed that its mobile app has added over 250,000 users since the launch of ‘Avis Now’ and has catered to more than 100,000 rental transactions.
The ‘Avis Now’ feature has been designed with customers’ inputs, as the key motive behind this sound innovation was enhancing consumer service and enriching their car-renting experience. This feature is currently available in over 60 U.S. locations, while the company is on track to extend its reach to various global markets.
The mobile app feature permits users to manage all details of their renting experience, from changing the car assigned to them, to seeing their rental agreement and extending the rental duration.
Highlighting the features of Avis Now, we note that customers can simply swipe their screens and check which cars are available in real time; exchange or upgrade the vehicle assigned to them; change colors or car versions and thus, select the car of their choice. Further, they can lock/unlock the car doors; confirm/cancel/extend booking; flash headlights to locate the car and also return easily, by using this incredible feature. Additionally, this feature helps save time, improve customer experience and also attract new travelers.
Further, Avis Now is available to all “Avis Preferred” members through their mobile apps on Apple’s (AAPL - Free Report) iOS and other Android devices.
Avis Budget has traditionally been innovative and is the first in the vehicle rental industry to adapt to the tech fervor. The company remains active in research and development, exploring online and mobile portals to enhance sales and margins.
Zacks Rank & Key Picks
Avis Budget currently carries a Zacks Rank #3 (Hold). Better-ranked stocks in the same industry include Performant Financial Corporation (PFMT - Free Report) and Xerox Corporation (XRX - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performant Financial Corp. has jumped 13.8% year to date and has a long-term earnings growth rate of 20%.
Xerox Corp. has an average earnings beat of 8.8% in the last four quarters and a long-term earnings growth rate of 10%.
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