Boston, MA -- (SBWIRE) -- 08/22/2014 -- Car rental in Colombia remained immature in 2013, concentrated mostly in insurance replacement market that accounted for 47% of total sales. For tourism purposes, car rental for business was the most common and served foreign and domestic tourists that visit other cities. For leisure purposes, which accounted for 15% of total sales, foreign tourists were the main users, whilst locals usually used their own cars to travel across the country. One of the factors that restricted the use of rented vehicles for leisure purposes by nationals was the perception of the high costs involved.

Industry Prospects:

Car rental will see a value CAGR of 5% at constant 2013 prices over the forecast period, with business the most dynamic. As Colombia continues strengthening trade relationships with different countries and attracting foreign investment, business tourism will continue to have a positive impact on car rental. Although Localiza and Hertz have the biggest value shares, Budget Car Rental began operations in early 2014 and is expected to grow rapidly in the country, fuelling competition in car rental.

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Report Overview:

Discover the latest market trends and uncover sources of future market growth for the Car Rental industry in Colombia with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Car Rental industry in Colombia, our research will save you time and money while empowering you to make informed, profitable decisions.

The Car Rental in Colombia market research report includes:

- Analysis of key supply-side and demand trends
- Detailed segmentation
- Historic volumes and values, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

- What is the market size of Car Rental in Colombia?
- What are the major brands in Colombia?
- Is there a shift from airport car rental to non-airport?
- Is leisure car rental outpacing business car rental?
- Is insurance replacement recession-resistant?

Reasons to Get this Report:

- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions

Product coverage: Car Rental by Category, Car Rental by Channel.

Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.

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