Various car rental firms offer consumers self-drive rental cars for a set or discounted charge so they may have a premium driving experience. Depending on the firm packages, customers receive self-drive automobiles for a variety of times, from a day to several weeks. The vehicles that are offered might range from affordable models like Honda, Hyundai, and Kia to more expensive ones like Mercedes, BMW, and Audi. Car rental is the term used to describe the service of renting out cars for a certain period of time from offline or online sources. Car rental services are primarily created for tourists and individuals without personal vehicles in order to better serve them. Renting an automobile is considered to be more cost-effective than buying one since it offers flexibility, affordable transportation, and the chance to avoid substantial ownership costs. The service providers also provide a variety of other products, including as entertainment systems, GPS systems, and insurance policies that pay out money for car damage, in order to boost consumer convenience.
The rapid spread of the COVID-19 virus in 2020 had an impact on the car rental business and was detrimental to the larger tourism sector. Additionally, there is reduced demand for car rentals at airports as a result of a global drop in air travel. To protect safety and stop the spread of the virus, car rental firms follow hygiene and safety regulations, such as washing their vehicles after each journey. Some automobile rental firms offer free face masks and hand sanitizer to their clients. Major business rivals Hertz and Avis sold more of their older automobiles than normal in order for the epidemic to act as a source of cash generation. The quick spread of the coronavirus around the world and the extensive use of lockdowns have had a negative impact on the rental car market globally. The suspension of transportation activities and travel restrictions caused a disruption in the car rental business, and manufacturers are now making up the losses they experienced.
Self-Drive Car Rental Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Avis Budget group, Carzorent India Private Ltd, Eco Rent A Car, Enterprises Rent-A-Car, Europcar, Sixt Se, The Hertz Corporation.
Global Self-Drive Car Rental Market Segmentation:
By Vehicle: Based on the Vehicle, Global Car Rental (Self Drive) Market is segmented as; Luxury cars, Executive Cars, Economy Cars, SUVs, MUVs
By Application: Based on the Application, Global Car Rental (Self Drive) Market is segmented as; Local Usage, Airport Transport, Outstation, Others
By Rental Length: Based on the Rental Length, Global Car Rental (Self Drive) Market is segmented as; Short Term, Long Term.
By Region: This report also provide the data for key regional segments of Asia-Pacific, Europe, Middle East and Africa, North America, Latin America.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.