Industry Analysis & Industry Trends
The Car Rental and Leasing industry struggled as the UK economy floundered in the years through 2009-10, but responded with a surge in subsequent years. The industry has been forced to deal with declining international tourist numbers and weaker corporate leasing demand in some years. These factors contributed to lower vehicle leasing and rental levels and therefore exerted downward pressure on industry revenue and profitability. However, since 2010-11 strong demand from businesses for vehicle leasing and growing demand from tourists has driven revenue back above pre-recessionary levels. Revenue is expected to grow by a further 0.9% in 2013-14.
Industry revenue is estimated to increase at a compound annual rate of 5.5% over the five years through 2013-14, to total £12.2... purchase to read more
Industry Report - Industry Analysis Chapter
The Car Rental and Leasing industry faced a difficult operating environment immediately after the financial crisis due to some major declines in international tourist numbers, the ailing UK economy, intense pricing competition and some declines in business leasing demand. However, demand surged in 2010-11 and 2011-12, as the industry demand increased sharply. The five years through 2013-14 are expected to yield compound annual revenue growth of 5.5%, taking revenue to an estimated total of £12.2 billion.
The onset of the global financial crisis had a sizeable effect on demand for vehicle renting and leasing. As a result, the industry performed poorly in 2008-09 and 2009-10, with revenue falling by 5.7% and 12.2% respectively in those years... purchase to read more