New Financial Services market report from Timetric: "The North American Car Rental Market"
Boston, MA -- (SBWIRE) -- 02/16/2013 -- The North American car rental market is going through a consolidation phase with the nine leading brands in the region held by four major companies. The level of competition in the market is extremely high with low profit margins. Prices remained stagnant primarily in the corporate car rental market, as a result of low growth which forced car rental companies to lower prices in order to retain corporate clients. While economic uncertainty is not as prominent as it is in Europe, the North American car rental market is still expected to witness slow growth due to a slow recovery in the airline industry, its key feeder market. Low profitability and slow demand growth in the market will force car rental companies to focus on reducing operational costs in order to compete on the basis of price. In order to reduce depreciation costs and vehicle funding requirements, companies will also focus on reducing the number of vehicles bought outside the repurchase program. Car sharing and the non-airport leisure segment will be the expected growth areas for car rental companies in the forecast period.
View Full Report Details and Table of Contents
- The North American car rental market is going through a consolidation phase with the nine leading brands in the region held by four major companies. The level of competition in the market is extremely high with low profit margins.
- According to the United Nations World Tourism Organization (UNWTO), the North America region accounted for the largest number of inbound tourist arrivals in the Americas in 2011. The region accounted for a 10.3% share of the world's international visitor arrivals and a 15.9% share of total inbound tourists to the Americas, yet registered nominal growth during the review period, from 107.8 million arrivals in 2007 to 116.9 million in 2011.
- The value of the car rental market declined from US$27.06 billion in 2008 to US$25.40 billion in 2009. However, the market has since then recovered as the value increased from US$25.4 billion in 2009 to US$26.77 billion in 2011.
- The North American car rental market is one of the most evolved car rental markets in the world. Since the countries in the region have large geographical areas and are also well connected by roads, car rental services are a logical option. The level of competition in the industry is high, although much of the market share is concentrated with four leading companies.
This report provides an extensive analysis related to tourism demands and flows in North America:
- It details historic values for the North American tourism sector for 2007-2011, along with forecast figures for 2012-2016
- It provides a comprehensive analysis of travel and tourism demand factors with values for both the 2007-2011 review period and the 2012-2016 forecast period
- The report makes a detailed analysis and projection of domestic, inbound and outbound tourist flows in North America
Companies Mentioned in this Report: Avis Budget Group, Dollar Thrifty Automotive Group, Discount Car & Truck Rentals Ltd, Alltime Car Rental Corporation, Budget Rent-A-Car BC Ltd, RIZ Rent a Car and Truck Ltd, Alquiladora de Vehiculos Automotores SA de C.V., Thrifty, Inc., Alamo Rent a Car Mexico, Casanova Rent Volks, SA de C.V
About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
Browse all Financial Services research reports at Fast Market Research
You may also be interested in these related reports:
- The North American Aviation Market
- The Future of Travel and Tourism in Brazil to 2016
- Future of Travel and Tourism in Mexico to 2016
- The Future of Travel and Tourism in Turkey to 2016
- The Future of Travel and Tourism in China to 2016
- North American Top 10 Hypermarkets, Supermarkets and Discounters - Company Benchmarking Analysis Report
- The Future of Travel and Tourism in South Korea to 2016
- The Future of Travel and Tourism in Canada to 2016
- The Russian Car Rental Market to 2016 - Market Profile
- Market Entry Strategies and Emerging Opportunities in the Car Rental Industry in South Korea
Copyright © 2005-2013 - SBWire, The Small Business Newswire - All Rights Reserved - Important Disclaimer
Contact Us: 888-4-SBWIRE (US) - 920-321-1250 (International)