Demand for car rental services continues to decline in 2021, as a direct result of impacts from the COVID-19 pandemic. In Ecuador, car rental is most popular within domestic tourism, to move from one region to another.
In order to try and mitigate the impacts seen from the aforementioned restrictions, car rental companies have been implementing different strategies in order to continue maintaining services to clients and making sales. Such strategies include promotional price offers, discounts, and biosafety measures – such as sanitised cars and contactless customer service, with transactions being completed virtually as opposed to in person.
Car rental companies are expected to continue designing and offering products tailored to the new behaviours seen in domestic tourism. For example, the trend for trips to nearby and shorter-stay destinations will define new products and offers, such as 12-hour car rental services in tourist cities.
The growth of car rental services in Ecuador is also strongly linked to road safety measures for foreign tourists visiting the country. Ecuador is considered to have a high risk factor regarding its roads, due to the high number of accidents registered annually.
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Car rental covers the short-term rental of passenger vehicles for self-drive including small vans by both business and leisure users, whether from the airport or downtown locations. Small vans up to one tonne are included. For longer than average rental periods, eg rental of one month, provided the rental is sourced from the short-term rental fleet, this transaction is included. 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 research and analysis database.
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