In 2021, used-car sales in America hit a record of 40.90 million vehicles. As the pandemic enters its third year, more and more automakers are restoring capacity, but demand for cars still exceeds supply.
In a predominantly worsening economic environment, with various issues being encountered in the production of new cars, it is difficult for automakers to solve the fundamental problems they are facing. A BMW spokesman said that the company would not be able to pass on their increased production costs caused by rising energy prices and the serious inflation in the European auto market, which is itself a result of the soaring prices of chips, raw materials, and freight transportation.
On the other hand, the car rental industry, as a major vehicle consumer, has seen a surge in orders as tourism gradually recovered following the introduction of vaccines. The price of used cars has gone up due to chip shortages, and many car rental companies have even turned around to purchase used cars, further driving up the demand for used cars.
The most immediate and significant effect of the rental car shortage are the skyrocketing prices. According to available data, global car rental costs rose by as much as 48% in 2022. A survey of car rental companies shows that some vehicles are renting for more than $300 a day in areas of high demand, with even higher rates in places such as the Gulf Coast, southern California, Florida and South Carolina. Florida was especially affected at the beginning of the year, with most airports running out of cars for tourists
When devising a travel budget, most consumers feel that accommodation and airfares will be the biggest expense. However, car rentals have now become a bigger part of people’s vacation budgets than ever before.
QEEQ now offers every consumer the lowest price in its unique way. Multi-platform price comparison may be a common way for people to seek low prices, but it is very time-consuming. On QEEQ, it only takes a single search to obtain excellent results.
Through the QEEQ Diamond Membership, every QEEQ user can enjoy a discount of up to 10%, and there is also the chance for them to upgrade their vehicle models or insurance for free. QEEQ provides customers with free aviation accident insurance for a year, which will undoubtedly save them a lot of money.
Members will especially enjoy the convenience of a range of digital applications. QEEQ ensures that everything is simple and user-friendly, giving customers a better experience.
QEEQ also supports cryptocurrency payments. While credit card fees traditionally account for about 2% to 4% of most transaction fees, cryptocurrency rates are half that or less. Cross-border transactions have higher credit card exchange rates, making cryptocurrency a better option. Customers and business partners can fully enjoy the convenience of these increasingly diverse internet payment technologies.
The emerging car rental platforms, as represented by QEEQ, are easy to operate, have a high resource efficiency and have received excellent customer recognition. As a result, they will continue to grow stronger and stronger, in particular among younger consumer groups. Focusing on scientific and technological innovation, they provide better opportunities for transforming market opportunities.
This is a new development path for the first-class enterprises of the future, and also a reference for a thriving industry.