Enterprise: Average Length Of Rental Rises 4.9 Days For Q1 2022

Average Length of Rental (LOR) for collision-replacement rentals in the first quarter of 2021 increased by 4.9 days from 2021, continuing a ‘trend of unprecedented industry increases,’ Enterprise Holdings said in a quarterly report issued Thursday.

Nationwide, average LOR was 18.2 days, up from 13.3 days in the first quarter of 2021. Enterprise said the increase was largest for non-drivable rentals, at 7.8 days, and that LOR was up by 4.1 days for both drivable and total loss claims. LOR is a widely used industry metric for repair cycle times.

The report found the increase was driven by ‘national issues with deep causal factors, including part delivery delays, shop production capacity and the impact of new technologies such as electric vehicles (EVs).’

The results reflect ‘many factors affecting everyone in the collision industry, including technician staffing, ever-changing parts availabilities, new and used vehicle pricing, inflationary pressures and new claims processes,’ Enterprise concluded.

‘The entire industry will play a part in ensuring all collision-related businesses are aligned, not just to offer procedural solutions, but to ensure our mutual customers receive safe and proper repairs, an excellent experience and peace of mind.’