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. Revenue reached a trough in 2009-10 after the industry was 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 up above pre-recessionary levels. Revenue is expected to grow by a further 2.1% in 2014-15... purchase to read more
Industry Report - Industry Analysis Chapter
The Car Rental and Leasing industry has expanded over the past five years. The industry faced a difficult operating environment immediately after the financial crisis due to some major declines in international tourist numbers, poor business confidence and intense pricing competition. However, revenue surged over the three years through 2012-13 as demand for the industry increased sharply. Over the five years through 2014-15 revenue is expected to grow at a compound annual rate of 9%, taking revenue to an estimated total of £12.7 billion. The low base that the five-year period started from is the key reason for the rapid growth rate.
Revenue was low at the beginning of the five-year period after the onset of the financial crisis... purchase to read more