The pandemic resulted in the car rental industry selling off much of its fleet in 2020, resulting in a shortage in supply of rental cars in 2021 as domestic travel starts to pick up. Rental car agencies across Australia are battling to keep up with increased customer demand, leaving holidaymakers unable to secure hire cars for their next domestic travel outing.
The COVID-19 pandemic has resulted in a continual structural shift from offline to online as consumers become more comfortable booking via their mobile devices, tablets, and laptops. Booking online for car rental was already growing in popularity pre-pandemic.
The unknown timeline for international border reopening has continued to place pressure on the car rental industry. While there has been a significant increase in domestic travel, the situation remains extremely uncertain as spikes in COVID-19 cases across the various states at different times in 2021 have also put a toll on domestic travel bookings.
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Car rental covers the short-term rental of passenger vehicles for self-drive by both business and leisure users, whether from the airport or downtown locations. Trucks and commercial vans are excluded. Car rental value covers the price of car hire to the consumer. Ancillary revenues are included, such as the hire of baby car seats, GPS navigation systems, optional roadside assistance services and collision and damage waivers. Volume is provided by the number of car hire transactions, fleet size and number of car rental operators. In underdeveloped markets, car rental companies offer chauffeur-driven cars. Most people prefer these options, due to unfamiliarity with the roads. Euromonitor International includes chauffeur-driven cars in car rental, when they concern car rental companies such as Hertz or Avis, which offer a chauffeur-driven service as an additional option. Car rental covers sales to inbound tourists and domestic tourists. i.e. from a destination point of view (also known as point of supply). For example, if a US citizen books a car rental service in France via the US offices of Hertz, the sales are attributed to Hertz France. The same applies for online sales. Car rental excludes long-term leasing, commercial vehicles, trucks and motorbikes and local car sharing schemes.See All of Our Definitions
This report originates from Passport, our Car Rental (Destination) research and analysis database.
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