Industry Analysis & Industry Trends
The Car Rental and Leasing industry has accelerated in recent years, as a result of several factors. Since 2013-14 improving economic conditions have prompted rising demand from businesses for vehicle leasing and from tourists for car rentals. This has driven strong revenue growth, although the industry did struggle in 2012-13 due to the faltering economy. Revenue is estimated to grow at a relatively low rate of 3.6% in 2016-17, as stagnant global economic conditions and economic uncertainty stemming from the EU referendum are anticipated to weaken consumer and business confidence.
Industry revenue is estimated to rise at a compound annual rate of 3.4% over the five years through 2016-17 to reach £13.8 billion... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Car Rental and Leasing industry is expected to be in the mature phase of its life cycle. Higher international and domestic tourist numbers, as well as increased investment in vehicles and competitive prices have driven industry revenue in recent years and are expected to help the industry grow at a similar rate to the overall economy over the coming years. Industry value added is forecast to increase at a compound annual rate of 6% over the 10 years through 2021-22. Although this is higher than compound annual GDP growth of 2.3% over the same period, industry value added started from a low base after successive years of revenue declines before and during the economic downturn.
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