Having plunged by almost a quarter during 2020 due to COVID-19, retail current value sales of car rental (destination) will fall to decline in 2021 – albeit at a more moderate pace. Big multinationals have been especially hard hit by travel restrictions.
Apart from the pandemic, car sharing and long-term leasing and subscription models pose a growing threat to car rental (destination). As a result of this heightened competition, the retail current value sales of car rental (destination) had been in decline even before the onset of the pandemic.
Retail current value sales of car rental (destination) are set to rebound strongly during 2022. As restrictions on travel are eased, international arrivals into Russia will begin to recover, while domestic demand will also increase as economic conditions begin to improve.
Car sharing in Moscow boomed suddenly and seemingly out of nowhere towards the end of the review period, with the result that Moscow now boasts one of the largest car sharing fleets of any city in the world. Though Russia was late to the game in embracing car sharing, this gave the advantage of new companies starting with the latest technology.
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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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