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Automobile Rental & Leasing
First Research, Feb 2012, Pages: 10
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Executive Summary
Brief Excerpt from Industry Overview Chapter:
The auto rental and leasing industry in the US includes about 5,000 companies with combined annual revenue of about $40 billion. Major companies include Avis Budget Group, Enterprise Holdings, Hertz Global Holdings, Ryder, and U-Haul International (a subsidiary of AMERCO). The industry is highly concentrated: the 50 largest companies generate more than 80 percent of revenue.
The industry includes companies that rent and lease passenger cars, recreational vehicles, trucks (without drivers), and trailers.
Major international companies include Europe by Car (based in US with operations across Europe), Europcar (based in France with operations worldwide), Auto Europe (based in US with global operations), Sixt (Germany), China Auto Rental, and Cheeyo Car Rental (China). Many leading US-based car rental companies also have international operations, primarily at international airports and usually through local franchisees.
COMPETITIVE LANDSCAPE
The industry depends highly on the general state of the US economy because most customers are business or vacation/leisure travelers, whose numbers can rapidly fall during an economic slowdown. Big companies have economies of scale in acquiring vehicles and customers. Small companies can compete effectively by providing better service, alternative products, or lower prices.
PRODUCTS, OPERATIONS & TECHNOLOGY
Major services include the rental and leasing of passenger cars, which accounts for about 60 percent of industry revenue, and the rental and leasing of trucks and trailers, which accounts for about 30 percent.
Operations are similar for car, truck, or specialty vehicle rental operations. A typical car rental operation has...
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