Both in Brazil and the rest of the world, particularly the United States, Europe and Asia, the forecast for the car rental business is one of expansion. According to data from Abrams Travel Data Services, a consultant company based in the State of New York specialized in the Car Rental sector, the American Car Rental industry’s turnover is equivalent to over US$ 20 billion and has more than 60 million users.
The development of the European market of Car Rentals had its great impulse as of the 50s, when Europe was still recovering from the Second World War and received major public and private investments from the United States. Thus, a series of North American companies settled down in the continent. During the 60s and 70s, European car rental companies also underwent great expansion, to such point that today they operate as continental companies. Estimates on the European market indicate that at the moment the car rental business is equivalent to approximately US$ 10 billion per year. The main markets in Europe are Germany, the United Kingdom, France, Italy, Spain and Holland. According to data processed by international consultants Snapdata, the car rental business in Italy, which nowadays accounts for US$ 500 million, will grow at a rate of 5.5% per year. In France, where currently the car rental market is equivalent to over US$ 1.2 billion per year, the forecast annual growth rate is 4%.The French market is strongly influenced by tourism.
The Beginning of Everything
The United States is the cradle of car rental. Few years after the appearance of the first automobiles in the North American market, in around 1910, a few starting entrepreneurs had a vision of car rentals becoming a promissory business, and thus they started this activity in the country.
In the 30s and 40s, the car rental business expanded significantly in North America, mainly through the opening of car rental outlets at airports. Car Rental companies started to strongly invest in the growth of the flow of tourists who traveled around the USA, for business or tourist purposes. In the 50s, various car rental companies, already in business throughout the country, expanded their activities to Europe.
In Germany, the growth rate for the next few years is expected to be 3% and the annual turnover of the sector at the moment has surpassed US$ 1.6 billion. The most important national association of car rentals in Europe is based in the United Kingdom, the British Vehicle Rental and Leasing Association (BVLRA), which incorporates 58% of the car rental companies in the country and represents approximately 1.2 thousand associated companies, is responsible for the purchase for 750,000 new vehicles every year. The automobile fleet for rent in the United Kingdom, has recently surpassed the one million figure, despite undergoing setbacks in the mid 90s.
Asia Finally, in Asia the most important car rental market is Japan. Although large multinational car rental companies are also present in this country, the main characteristic of the Japanese market is the predominance of national companies linked to the major Japanese car makers. Among such car rental companies operating in Japan, the most important are Toyota Rent, Car Lease, Nippon Rent Car and Mazda Rent a Car.
Both in Brazil and the rest of the world, particularly the United States, Europe and Asia, the forecast for the car rental business is one of expansion. According to data from Abrams Travel Data Services, a consultant company based in the State of New York specialized in the Car Rental sector, the American Car Rental industry’s turnover is equivalent to over US$ 20 billion and has more than 60 million users.
The development of the European market of Car Rentals had its great impulse as of the 50s, when Europe was still recovering from the Second World War and received major public and private investments from the United States. Thus, a series of North American companies settled down in the continent. During the 60s and 70s, European car rental companies also underwent great expansion, to such point that today they operate as continental companies. Estimates on the European market indicate that at the moment the car rental business is equivalent to approximately US$ 10 billion per year. The main markets in Europe are Germany, the United Kingdom, France, Italy, Spain and Holland. According to data processed by international consultants Snapdata, the car rental business in Italy, which nowadays accounts for US$ 500 million, will grow at a rate of 5.5% per year. In France, where currently the car rental market is equivalent to over US$ 1.2 billion per year, the forecast annual growth rate is 4%.The French market is strongly influenced by tourism.
The Beginning of Everything
In the 30s and 40s, the car rental business expanded significantly in North America, mainly through the opening of car rental outlets at airports. Car Rental companies started to strongly invest in the growth of the flow of tourists who traveled around the USA, for business or tourist purposes. In the 50s, various car rental companies, already in business throughout the country, expanded their activities to Europe.
In Germany, the growth rate for the next few years is expected to be 3% and the annual turnover of the sector at the moment has surpassed US$ 1.6 billion. The most important national association of car rentals in Europe is based in the United Kingdom, the British Vehicle Rental and Leasing Association (BVLRA), which incorporates 58% of the car rental companies in the country and represents approximately 1.2 thousand associated companies, is responsible for the purchase for 750,000 new vehicles every year. The automobile fleet for rent in the United Kingdom, has recently surpassed the one million figure, despite undergoing setbacks in the mid 90s.
Asia Finally, in Asia the most important car rental market is Japan. Although large multinational car rental companies are also present in this country, the main characteristic of the Japanese market is the predominance of national companies linked to the major Japanese car makers. Among such car rental companies operating in Japan, the most important are Toyota Rent, Car Lease, Nippon Rent Car and Mazda Rent a Car.
