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Car Rental in the US

United States car rental market: $28.2 billion industry forecast by 2017


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2014-01-31 05:38:03 - Car Rental in the US - a new market research report on companiesandmarkets.com

Enterprise Holdings Inc remained the leader in the United States car rental market during 2012 with total value sales of US$11.3 billion, equating to a value share of 49%. The Hertz Corp ranked second with value sales of US$4.9 billion, followed by Avis Budget Group Inc with US$4 billion. Dollar Thrifty Automotive Group Inc, acquired by Hertz in November 2012 but operating independently for most of the year, achieved value sales of US$1.5 billion in 2012.

The US car rental industry experienced another year of recovery in 2012, registering its third consecutive year of value growth. The US fleet size grew to 1.85 million cars, approaching the high water mark achieved in 2007 as operators returned to the market for new

 

 

vehicles. The number of car rental operators increased sharply by 10% in 2012, driven by low-priced independent operators. The November 2012 acquisition of Dollar Thrifty by The Hertz Corp was the major event of the industrial calendar, creating a powerful new rival to leader Enterprise Holdings Inc.

Car rental is anticipated a constant value CAGR of 4% over the forecast period, with projected total value sales of US$28.2 billion in 2017. Transactions are expected to increase by 11% over the five-year forecast period, while fleet size will eclipse its previous 2007 best in 2013, reaching two million cars by 2016. Recent industry consolidation and strategic segmentation between ´budget´ and ´premium´ brands will be a driver of higher overall prices, with transaction value expected to increase by 11% in constant terms over the forecast period.

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