Car rental in the Czech Republic is over reliant on inbound business and leisure tourism, and was therefore hit hard by inbound travel disruptions due to COVID-19 in 2020. The slow bounce-back in international travel in 2021 due to continued restrictions and lack of consumer confidence in travelling is also set to have an impact on the performance of car rental in 2021, with sales remaining at far less than half of the 2019 level.
The average number of days per rental is set to fall slightly in 2021 compared with 2020. However, it is still expected to remain significantly higher compared with the 2019 pre-pandemic level, as people have had to make longer trips due quarantine and travel restrictions, leading to longer stays.
Car rental is not expected to recover to the 2019 pre-pandemic level of current value sales until 2024. Car rental in the Czech Republic is to a large extent dependent on international travel, which is forecast to take the longest time to recover.
Insurance car replacement has been least impacted by the pandemic, and is therefore set to return to the pre-pandemic level of sales as early as 2022, and is expected to continue to see steady growth for the rest of the forecast period. Meanwhile, with a pick-in the growth rate for business car rental after a slow start in 2021, both business and leisure car rental are set to return to their 2019 levels of sales in 2024.
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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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