Due to the ongoing lack of inbound arrivals and reduced business travel in 2021, sales of car rentals remain way below pre-pandemic levels in Norway. Domestic demand is not big enough to compensate.
Challenging trading conditions arising from COVID-19 have compelled international and local operators alike to reduce overheads by closing outlets, laying off staff and rationalising their fleets. Fleet reductions in car rentals are leading to vehicles being sold out during the high seasons, helping operators avoid bankruptcies by maintaining operational costs at a lower level.
While data on the effect that international travel restrictions have had on domestic car rentals are not yet available, as figures are arising from a different consumer base, empty cars always feel safer than driven ones during a pandemic given the lower risk of viral transmission. It is therefore likely that domestic leisure travel will continue to be something of a bright spot for car rentals.
Hertz is expanding its car-sharing offering with Hertz Bilpool, which opened in Trondheim (North Norway) in April 2021. A prolonged pandemic situation may have favoured Hertz in terms of helping it compete more closely with Uber in this segment, in order to diversify effectively.
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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 DefinitionsThis report originates from Passport, our Car Rental research and analysis database.
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