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Car Rental in the United Kingdom

United Kingdom car rental market: Sales reach £1.2 billion in 2012


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2014-01-23 05:02:03 - Car Rental in the United Kingdom - a new market research report on companiesandmarkets.com

The UK car rental category is highly concentrated with the top five players accounting for three-quarters of value sales. Enterprise Rent-A-Car is the leading player in the UK car rental category with a value share of 30%, thanks to strong growth registered over 2010-2012. This growth was fuelled by the large network of around 370 locations to which Belfast Airport was added in January 2013. This ensures the company a branch at every major UK airport and makes it the largest airport network in the UK. Europcar ranked in second place with a 15% share, which actually rises to 26% when taking National Car Rental into consideration, which was acquired from Vanguard EMEA in 2007. Avis and Hertz had similar

 

 

value shares of 11% and 10% in 2012.

Car rental value sales rose by 3% in 2012 to over £1.2 billion, maintaining the positive growth which started in 2010, after the drop of 10% registered in 2009. Despite the positive growth registered over the 2010-2012 period, revenues in 2012 remained below the peak reached in 2008, as economic uncertainty continues to hamper consumer confidence and business travel remains subdued. The Olympic Games did not produce expected results as numbers of transactions were down during the event, while car rental reported better growth after the Games had ended.

Revenue generated by the car rental category is expected to maintain positive growth over the forecast period, with a constant value CAGR of 2%. This will mainly be driven by the leisure rather than the business category, as the former is expected to report a constant value CAGR of 3% compared to 1% for the latter over the forecast period. Declining car ownership and more people holidaying in the UK will be the two major trends driving revenue in the leisure category. Business is expected to remain more subdued as companies will continue to have tight travel business budgets due to the poor economic outlook which is set to stay for a few more years.

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