Car rental in Taiwan is small in size because the country has a dense population with established travel networks. Tourists often take advantage of mass transportation systems such as rail when they wish to travel, while renting a scooter is popular as it offers greater mobility than a car when sight-seeing.
Although value sales of car rental are set to remain significantly lower than pre-pandemic levels in 2021, the number of transactions is set to fully recover following double-digit declines of 2020. This indicates a further drop in value per transaction, which is likely to be linked to special promotional prices offered by car rental companies in a bid to attract consumers.
The pandemic has drawn greater attention to online news allowing access to information at any time of the day. An increasing number of companies have therefore, been eager to adopt digital strategies to capitalise on consumers’ shifting demands and behaviour.
The number of business arrivals is unlikely to fully recover until the end of the forecast period following significant declines in 2020, a factor which will continue to impact business car rental demand, with value sales (at constant 2021 prices) not predicted to return to pre-pandemic levels until 2026. On the other hand, leisure car rental is predicted to see an earlier recovery by 2025, due to a stronger recovery for leisure arrivals by air and driving demand from passengers requiring transport.
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Understand the latest market trends and future growth opportunities for the Car Rental (Destination) industry in Taiwan with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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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 DefinitionsThis report originates from Passport, our Car Rental (Destination) research and analysis database.
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