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Car Rental & Leasing in the UK: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Car Rental & Leasing Market Research Report | SIC N77.110 | Feb 2016

Getting up to speed: Robust demand from businesses keeps revenue growth relatively stable

IBISWorld’s Car Rental & Leasing market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

Report Snapshot
Market Share of Companies
LeasePlan Corporation N.V. LeasePlan Corporation N.V. market share
Lex Autolease Limited Lex Autolease Limited market share
Industry Statistics & Market Size
Revenue
£14bn
Annual Growth 11-16
5.5%
Annual Growth 16-21
Purchase to read more
Profit
Purchase to read more
Employment
33,304
Businesses
2,996
Industry Analysis & Industry Trends

The Car Rental and Leasing industry struggled prior to and during the economic downturn. However, a number of factors have driven an acceleration in industry growth in subsequent years. Since 2010-11 improving economic conditions have prompted rising demand from businesses for vehicle leasing and from tourists for car rentals. This has driven strong revenue growth over much of the past five years, although the industry did struggle in 2012-13 as the economy faltered. Revenue is estimated to grow at a more modest rate of 3.5% in 2015-16, as stagnant global economic conditions are anticipated to weaken business confidence and tourism levels, while growth in the real effective exchange rate impedes growth.

Industry revenue is estimated to rise at a compound annual rate of 5.5%... purchase to read more

Industry Report - Starting a New Business Chapter

The barriers to entering this industry are moderate, although capital is needed to acquire vehicles. Low interest rates and a robust economy have meant industry participants have enjoyed relatively flexible funding options in recent years. However, toward the start of the period, more stringent lending criteria as a result of the economic downturn, made it more difficult for new firms to access credit for vehicle purchases.

It is cheaper for companies to acquire used vehicles than to buy new ones. However, to join the British Vehicle Rental and Leasing Association, which provides creditability and support to members, members must purchase new cars and replace them after 60,000 miles... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Car Rental & Leasing Industry?

Firms in this industry rent cars and small commercial vehicles to private users and businesses on a short-term basis. Customers can also lease cars and other vehicles from the industry on a long-term basis, usually from one to seven years, with the option to purchase the vehicle at the end of the leasing period. The industry does not include renting or leasing a vehicle with a driver.

Industry Products
Car rentalCar leasingOther light vehicle rentalOther light vehicle leasing
 
Industry Activities
Renting carsLeasing carsRenting small commercial vehiclesLeasing small commercial vehicles


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