Car rental market in India emerging
Car rental industry in India and China grows steadily keeping pace with demand initiated by improved macroeconomic situations and employment opportunities in recent years. Though airport car rental market is phenomenal, off-airport rental volumes are increasing through local business use, leisure travel and improved cars.
North American car rental industry has triumphed, followed by Europe. Emerging countries India, and China grow at stead pace. Improved GDP levels, increasing volumes of inbound and domestic tourists, rising disposable income, and improving road infrastructure drives the car rental industry. Emerging business class in India and China coupled with auto industry’s green revolution drives the car rental market in these regions. Varying petrol and diesel price can effect consumer spending levels. Emission standards protocol to influences the market.
Global Car Rental Market 2014 Edition Research gives an in-depth analysis on this industry which is growing by leaps and bounds. The report studies the growth drivers and issues faced by this industry which is dominated by three major players Hertz Global Holdings, Inc., Avis Budget Group, Inc., and Enterprise Holdings, Inc.
Emerging countries such as India, Korea, China, Brazil and Indonesia are also seeing a surge in the car rental industry due to increase in demand in these countries due to large scale improvements in macroeconomic and employment opportunities. Users in these countries opt for car rentals for local business use, leisure travel and as replacements when cars are being repaired/serviced.
These countries have seen increasing GDP levels, increasing volumes of both inbound and domestic tourists coupled with rise in disposable incomes and improving road infrastructure are factors driving the car rental industry. On the other side of the coin, volatility in petroleum product prices, high gasoline prices and tightening of emission standards could have an adverse affect on car rentals which has been highlighted in the report on Global Car Rental Market 2014 Edition.