Car rental registered negative growth in 2019 as demand among the local population continued to slide. The main reason for this is the increasing numbers of Israeli people who own their own cars, with new car sales rising again in 2018 and 2019.
Fast growth is been seen in the usage of peer-to-peer transportation options in Israel, with consumers increasingly interested in peer-to-peer mobile apps such as Car2Go and City Car. These applications are regarded as more cost-effective and convenient than public transport and short-term car rental.
The reduced demand seen for short-term car rental in Israel towards the end of the review period has led to a shift in the focus of the leading car rental players. As many car rental companies are now struggling to attract the same levels of demand they were experiencing at the start of the review period, they have turned their attention to leasing and selling cars in a bid to arrest declining revenues through more profitable activities.
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This industry report originates from Passport, our Travel And Tourism market research database.