Buy the full study
Detailed content of our market study
Inforamtion
- Number of pages : ~ 40 pages
- Format : Digital and PDF versions
- Last update :
Summary and extracts
1 Market Summary
1.1 Definition and presentation
The term "car rental" refers to those companies that offer the service of renting cars of different kinds for different periods of time (may be hours but also months). The customers of these companies are most often tourists or people who need a car for work. For this reason, the locations for making the rental are usually located at ports, airports or railways. In addition to rental per se, it is possible to request additional services such as child seats, telepass or GPS.
The types of vehicles offered by car rental companies are mainly:
- Cars
- Motorcycles
- Vans
Globally, the value of the car rental market is about $98.14 billion (year 2020 figure) and is expected to grow between 2021 and 2028 at a compound growth rate (CAGR) of 4.6 percent.
Regarding the rental market in Italy, it can be seen that long-term rental in recent years has achieved positive results. In 2020, the number of cars rented increased by 2.4 compared to the previous year. As for the short-term rental market, the pandemic has resulted in losses. Despite this, the market is expected to recover in the coming years due to the fact that more and more people are traveling for work and tourism.
The trends that mark this market now are: the electric car with self-driving, rental of used cars, medium-term rental (more than 30 days but less than a year) and digitization of the entire market, focus on small and medium-sized businesses as the most profitable customer.The most recognized companies in this market are: Arval, Ald Automotive, Leasys Volkswagen and Mercedes Benz CharterWay.
All our studies are available online in PDF format
Take a look at an example of our research on another market!
Latest news
Hertz continues to pay the price for its Tesla gamble - 06/08/2024
- - Hertz to order 100,000 Model 3s from Tesla in October 2021.
- - 11% of Hertz's U.S. fleet was electrified, including 80% with Teslas, compared with an average of 2-3% for other rental companies.
- - Repair costs for electric models are on average twice as high.
- - Electric car sales growth of 1.3% in 2023.
Hertz changes boss after disastrous bet on electric cars - 17/03/2024
- - Electric vehicle order: 100,000 electric cars to Tesla for $4.2 billion.
- - Hertz announces plans to sell 20,000 electric cars, representing a third of its "clean" fleet.
- - Repair costs for electric vehicles are on average twice as expensive as those for conventionally powered vehicles.
- - Its German counterpart, Sixt, has also expressed its intention to reduce the number of Teslas in its fleet.
United States: Hertz gets rid of its electric cars and switches back to gasoline - 12/01/2024
- Hertz plans to sell 20,000 electric cars, or 20% of its "clean" fleet.
- By 2021, Hertz had placed an order with Tesla for 100,000 Model 3s.
- Currently, 11% of Hertz's US fleet is made up of electric vehicles, 80% of which are Tesla.
- Among Hertz's competitors, the proportion of electric vehicles in their fleets is generally between 2% and 3%.
- Repair costs for electric cars are on average twice as high as for internal combustion vehicles.
- Hertz has signed an agreement with General Motors for the purchase of 175,000 electric vehicles, and another agreement for the purchase of 65,000 Polestar models.
Hertz pays dearly for its giant deal with Tesla - 20/11/2023
- In October 2021, Hertz ordered 100,000 Model 3s from Tesla
- Currently, around 11% of Hertz's fleet (590,000 cars) are electric cars, 80% of which are Tesla (Model 3 and Model Y).
- Avis and Enterprise's fleet of electric vehicles in the United States does not exceed 1 or 2% today, according to Morgan Stanley.
- The two main risks for Hertz in the coming years are "higher operating costs" and a risk "linked to the residual value" of the cars.
- Repairing an electric car costs "about twice as much" as a traditional car, according to Hertz's CEO.
- Lower prices have reduced the resale value of its cars and increased its depreciation.
Mobility: Europcar and Volkswagen step up joint projects - 15/09/2023
- Europcar is to acquire 51% of Euromobil, Volkswagen's car rental business in Germany.
- Euromobil employs 400 people and provides car rental services at the group's 2,000 dealerships in Germany.
- Europcar and Volkswagen plan to exchange know-how and provide mutual assistance in fleet management.
- Europcar is working with Volkswagen on a project for an all-in-one mobile application combining various mobility services.
A former Citroën and Volkswagen executive at the wheel of Europcar - 17/07/2023
- Since 2022, Europcar has been owned by a trio consisting of the Volkswagen group (majority shareholder with two-thirds), the Attestor fund and the Dutch Pon group.
- Europcar has had to face up to a 2 billion debt burden in recent years.
- The company was saved from insolvency during the health crisis of 2020 thanks to loans guaranteed by the French and Spanish governments.
Companies quoted in this study
This study contains a complete overview of the companies in the market, with the latest figures and news for each company. :
Choosing this study means :
Access to more than 35 hours of work
Our studies are the result of over 35 hours of research and analysis. Using our studies allows you to devote more time and added value to your projects.
Benefit from 6 years' experience and over 1,500 industry reports already produced
Our expertise enables us to produce comprehensive studies in all sectors, including niche and emerging markets.
Our know-how and methodology enable us to produce reports that offer unique value for money.
Access to several thousand articles and paid-for data
Businesscoot has access to all the paid economic press as well as exclusive databases to carry out its market research (over 30,000 articles and private sources).
To enhance our research, our analysts also use web indicators (semrush, trends, etc.) to identify market trends and company strategies. (Consult our paying sources)
Guaranteed support after your purchase
A team dedicated to after-sales service, to guarantee you a high level of satisfaction. +44 238 097 0676
A digital format designed for our users
Not only do you have access to a PDF, but also to a digital version designed for our customers. This version gives you access to sources, data in Excel format and graphics. The content of the study can therefore be easily retrieved and adapted for your specific needs.
Our offers :
the car rental market | Italy
- What are the figures on the size and growth of the market?
- What is driving the growth of the market and its evolution?
- What is the positioning of companies in the value chain?
- Data from several dozen databases
5 reports pack (-15%) IT Italy
- 5 reports at €75.6 excluding VAT per study to choose from our Italian catalogue for 12 months
- Save 15% on additional studies purchased
- Choose to be refunded any unused credit at the end of the 12-month period (duration of the pack)
See the terms and conditions of the pack and the refund of unused credit.
Our customer references
They have consulted our studies
Discover the opinions (+500)
Malcolm Vincent
Astoria Finance
Gregoire de Castelnau
Stags Participations
Timothé Huignard
PWC
Paul-Alexis Kebabtchieff
BCG
Aymeric Granet
Publicis Consultant
interviews & case studies
All interviews and case studies (45)
