Business Almost Up to '07 Levels: Enterprise CEO

Car rentals are nearly back to 2007 levels, Andy Taylor, CEO and chairman of Enterprise Holding, the world’s largest car rental company, told CNBC Friday.

“It’s [the uptick is] being led by business travelers in the airport renting cards,” said Taylor, who heads the privately owned company. “That business is up over 10 percent year over year. We are almost back to our high of 07. We’re really a little surprised.”

Enterprise has more than 1 million cars in its fleet and rents more than 130,000 cars daily to individuals and businesses. Under the brand names of Enterprise, Alamo and National, it has the largest presence at airports—about 33 percent of market share.

Taylor said business began turning around in June. The company has added 2,500 new jobs, he said, and its US fleet is up over 60,000 year to year.

He added, “It’s apparent that business travelers are hitting the road again.”