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Lotus Car Rental

Essay by   •  May 23, 2014  •  453 Words (2 Pages)  •  1,208 Views

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Lotus Car Rental-Assessment on Adding Alternative Fuel Vehicles

For many years the environmentalists and consumers have been advocating for vehicles to be more efficient in fuel consumption and safer for the environment. Lotus Car Rental needs to embrace the Alternative Fuel sustainability to remain competitive, improve its image, and be an economically viable option for consumers. The company is behind the in the car rental business because many companies have started to implement Alternative Fuel Vehicles (AFVs) programs.

With congress passing the Energy Policy Act of 1992 (EPAct) calling for automobiles to reduce petroleum based fuel consumption (Alternative fuel vehicles, 2003), there is a growing urgency to implement AFVs program among rental car organizations. Currently there is approximately 240 million vehicles on the road and 160 Billion gallons of fuel is dispensed to keep them running. Car rental companies operate approximately 13 million of the vehicles currently on U.S. roads (Alternative fuel vehicles, 2003). The "going green" movement is on and the government is offering many incentives in tax credits when purchasing AFVs. There are many types of AFVs to consider which will be discussed in more detail. Gas prices are soaring. The dependence on foreign oil is weighing on the country and consumers at the pump. The former Shell Oil president Jon Hofmeister during an interview with National Public Radio (NPR) predicted that gas prices will reach five dollars in the near future (Levin, 2011). The latter will drive up the cost of everything needed for survival and not to say the least it would make traveling more expensive. Lotus Rental Car has an opportunity to break into the AFVs market and innovate traveling, with lower costs and while gaining positive image with the environmentalist and the public.

There are many types of AFVs and they are the following:

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