Enterprise CEO Unveils Vision Beyond Car Rentals: What’s Next for the Brand

Introduction

Enterprise Mobility, formerly known as Enterprise Rent-A-Car, is making waves under the leadership of CEO Chrissy Taylor. As the third generation of her family to run the company, Taylor is on a mission to reshape the brand’s identity beyond car rentals. Surprisingly, a recent study revealed that only 11% of consumers know about this transformation. Let’s dive into what this means for Enterprise and the future of mobility.

A New Era for Enterprise Mobility

Founded in 1957 by Jack Taylor in St. Louis, Enterprise has long been associated with car rentals. However, in October 2023, the company rebranded as Enterprise Mobility to reflect its expanded offerings. “Who we are at our core will never change, but our future is evolving,” Taylor explained during her interview at the Fortune COO Summit.

The company, which also owns Alamo and National Car Rental, is branching out into several areas:

• Hourly car-sharing
• Truck rentals
• Used car sales
• Fleet management for businesses

The Challenge of Change

Despite Enterprise’s extensive network of over 9,500 locations worldwide, the shift in perception is challenging. Taylor noted, “Only 11% of consumers know we do more than rentals.” This statistic highlights a significant opportunity, particularly in the business-to-business sector.

As Enterprise transitions, the very idea of what a vehicle is is changing too. With the rise of electrification and AI-driven vehicles, the landscape of transportation is evolving. “The vehicle is being transformed,” Taylor stated, pointing to the complexities the company faces in this new environment.

Steady Growth Amid Transformation

Taylor’s leadership has yielded impressive results. In 2023, Enterprise reported $35 billion in revenue, up from $25.9 billion in 2019, the year she became CEO. This growth is a testament to her vision for the company and its adaptability in a rapidly changing market.

Taylor’s journey at Enterprise began as an intern, progressing through various roles over 12 positions before becoming CEO. This deep understanding of the business, along with the company’s commitment to internal talent development, is a significant competitive advantage. Promoting from within allows future leaders to gain experience across all areas of the business, including its new ventures.

The Road Ahead

As Enterprise Mobility continues to evolve, Taylor is focused on raising awareness about the company’s new services. With the demand for alternative transportation options increasing, there is a clear path for growth beyond traditional car rentals.

Taylor’s approach emphasizes patience and gradual change, recognizing that transforming a long-established brand takes time. “You’re not going to change the whole company in one day,” she said.

Conclusion

Under Chrissy Taylor’s leadership, Enterprise Mobility is setting its sights on a broader future, aiming to redefine mobility beyond car rentals. With a strong foundation and a clear vision, the company is poised to take advantage of new opportunities in the evolving transportation landscape.