The cost and hassle of car ownership are leading to strong value growth in car rental in Colombia. Regulation has been put in place to cope with traffic congestion, such as restrictions on car circulation in major cities.
Partnerships have become crucial to compete for clients in car rental. Partnerships with intermediaries are helpful in terms of increasing sales, but are also expensive for car rental companies, as they have a high level of commission.
The car sharing model, whereby consumers can rent vehicles for a short period of time, such as by the hour, is seeing strong growth in urban areas of Colombia. Many people want access to a car, but do not want the high running costs.
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Discover the latest market trends and uncover sources of future market growth for the Car Rental industry in Colombia with research from Euromonitor's team of in-country analysts.
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This industry report originates from Passport, our Travel And Tourism market research database.