Hitting the brakes: The effects of COVID-19 have diminished industry demand and revenue
Car Rental industry revenue has shrivelled because of rising competition and the impact of COVID-19. Before the outbreak, the industry was highly reliant on international tourism, particularly from emerging markets like China and India. Hence, the pandemic was highly damaging to the industry, especially as Australia's international border was closed from March 2020 to February 2022. Overall, industry revenue has fallen at an annualised 0.7% over the past five years and is expected to total $1.5 billion in 2023-24. However, this includes an estimated surge of 15.0% in the current year as restrictions have eased and international tourists have returned to Australia.
Industry firms rent out cars. The industry includes car rental companies that also rent out trucks, vans and buses. The industry excludes commercial and fleet leasing. Campervan and motorhome rental are also excluded from the industry.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Hertz Investment (Holdings) Pty Limited
- Europcar Holding Pty Ltd
- National Roads and Motorists' Association Limited
- Avis Management Pty Limited
Methodology
LOADING...
