The positive development in car rental in Germany, which started in 2013, continued into 2017. In this last year of the review period, car rental recorded 2% growth in terms of current value, and total sales grew to EUR2.4 billion. This positive development was all the more remarkable considering the very challenging environment for travel modes in Germany, with the rise of car sharing and long-distance buses as well as successful development of public transportation, especially rail. Demand for car rental was created due to growing inbound and domestic flows as well as high consumer confidence among German residents.
Over the forecast period, car rental in Germany is expected to post a modest value CAGR of 1% at constant 2017 prices, with 2022 sales of EUR2.4 billion, or EUR77 million higher than in 2017. Business car rental and leisure car rental are predicted to record a similar CAGR, while insurance replacement car rental will post a marginally declining CAGR over the next five years at constant 2017 prices.
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This industry report originates from Passport, our Travel And Tourism market research database.