Avis Budget (CAR) Fosters Innovation With "Avis Now" Launch

"One of the biggest things in business is to open yourself up for change.” - Jay Z

It is high time that businesses catch up with the pace of technological advancement, which has become the order of the day. Well, we believe that Avis Budget Group, Inc. (NASDAQ:CAR) follows this business mantra, as the company has always been innovative and is the first in the vehicle rental industry to adapt to the tech fervor.

Keeping the enthusiasm, the company’s Avis Car Rental unit announced a transformation in its overall car-renting process yesterday, with the launch of the “Avis Now” feature for its mobile app.

The “Avis Now” feature has been designed with customers’ inputs, as the key motive behind this solid innovation was to enhance consumer service and enrich their car-renting experience with the company. This feature is currently available in over 50 U.S. locations, while the company is on track to extend its reach to various global markets.

Avis’ rental/loyalty program members, falling under the “Avis Preferred” bracket can use this app, which is accessible on Apple Inc. (NASDAQ:AAPL) iOS and Android devices. The latest mobile feature will allow 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.

Taking a deeper insight into Avis Now’s features, 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.

Moreover, this app enables users to get real-time updates associated with their trips. Also, it allows them to confirm fuel or mileage and get on-demand assistance.

As mentioned above, Avis Budget has always been one of those companies, which are exploring the online and mobile portals to enhance sales and margins. One of the many developments in this regard was Avis’s launch of an Android application that enables customers to make, confirm or cancel bookings through voice commands.

Coming back to “Avis Now”, this feature is likely to save time, improve customers’ experience and also attract new travelers. As for Avis, this connection between mobiles and cars, marks another step in the company’s path of undertaking innovations and emerging as a leader in the car-sharing space.

Zacks Rank & Key Picks

While Avis Budget currently carries a Zacks Rank #4 (Sell), better-ranked stocks in the same industry include Core-Mark Holding Company, Inc. (NASDAQ:CORE) and PFSweb Inc. (NASDAQ:PFSW) , each carrying a Zacks Rank #2 (Buy).

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