Industry Analysis & Industry Trends
The Car Rental and Leasing industry struggled prior to and during the economy downturn. However a number of factors have helped industry growth surge in subsequent years. Since 2010-11 improving economic conditions have led to rising demand from businesses for vehicle leasing and from tourists for car rentals. This has driven revenue above pre-recessionary levels, although the industry did struggle once more in 2012-13 as the economy faltered. Although economic conditions are now more buoyant, revenue growth is expected to be a modest 2.9% in 2015-16. This is only expected to be a short-term slowdown, brought on by lulls in tourism and business confidence due to economic unrest in Europe and China.
Industry revenue is estimated to rise at a compound annual rate of 2.3%... purchase to read more
Industry Report - Industry Analysis Chapter
The Car Rental and Leasing industry has expanded over the past five years, although a degree of volatility has been evident. Prior to 2010-11, the industry suffered due to major declines in demand and intense pricing competition. Demand was propelled by rampant growth in business confidence, tourism and government capital expenditure in line with improving economic conditions. This led to buoyant growth in 2011-12. However revenue once again declined in 2012-13 as the economy wavered. Industry revenue is expected to grow at a compound annual rate of 2.3% over the five years through 2015-16 to total £11.7 billion.
Revenue has grown more slowly recently and is expected to climb by 2.9% in the current year... purchase to read more