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    Automobile Rental & Leasing Industry Profile

    Report Page Length: 10-12
    Last Quarterly Update: 4/5/2021
    SIC Codes: 7513, 7514, 7515
    NAICS Codes: 5321
    Chapters Include:
    Industry Overview Trends & Challenges Industry Forecast
    Quarterly Industry Update Call Prep Questions Website & Media Links
    Business Challenges Financial Information Glossary & Acronyms
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    Excerpt from Automobile Rental & Leasing Industry Profile

    Companies in this industry rent and lease passenger cars and trucks without drivers and utility trailers. Major companies include Avis Budget Group, Enterprise Holdings, Hertz Global Holdings, Ryder, and U-Haul International (all based in the US), along with CAR Inc (China), Europcar (France), LeasePlan (the Netherlands), and Sixt (Germany).

    The global car rental market is expected to reach nearly $120 billion by 2024, according to Grand View Research. China is seen as a key source of growth. Car rentals are growing in popularity in China's big cities, with demand being driven by better living standards, business rentals, and limits on ownership of private cars. The auto rental and leasing industry in the US includes about 19,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $63 billion.

    COMPETITIVE LANDSCAPE

    Demand for car rental is driven by business and leisure travel; for truck rental, demand is driven by home sales and corporate relocations. The profitability of individual companies depends on efficient operations and the ability to finance inventory. Big companies have economies of scale in acquiring vehicles and customers. Small companies can compete effectively by providing better service, alternative products, or lower prices. The US industry is highly concentrated: the 50 largest companies generate about 85% of revenue.

    PRODUCTS, OPERATIONS & TECHNOLOGY

    Major services include the rental and leasing of passenger cars, which accounts for about 65% of industry revenue, and the rental and ...

     
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