Car Hire & Rental: A Growing Sector of the Automotive Industry
The car rental and car hiring industry has seen tremendous growth over the last few decades and has become an integral part of the overall automotive industry. There are over 700 car rental companies operating in more than 170 countries across the globe. Major companies such as Hertz, Avis, Enterprise, Alamo, and Europcar dominate the market but there is also thriving competition from local and regional players.
Global Expansion and Accessibility
The expansion of airports and major travel hubs across the world has made car renting more convenient and accessible to customers. It is now possible to rent a car almost anywhere, enabling people to travel independently without being dependent on public transport or taxis. This has spurred both business and leisure travel globally. Companies have expanded their network of rental locations and now have a presence even in smaller towns and cities to cater to the wide-ranging mobility needs of customers.
A Diverse Fleet with Innovation
Car rental companies now offer a diverse range of vehicles at different price points including economy cars, compact sedans, SUVs, minivans, luxury cars, sports cars, hybrids, and even electric vehicles.
They continuously upgrade their fleet with the latest models and features to provide an innovative and technologically advanced driving experience to their customers. Many companies also have special sections for eco-friendly rentals and wheelchair accessible vehicles.
Value-Added Services and Convenience
Renting a car nowadays provides more than just the basic vehicle. Companies offer additional services such as insurance options, GPS navigation, phone integration, luggage delivery, and even facility to add additional drivers. This provides more flexibility and convenience to customers. Off-airport and downtown branch locations save time for customers who do not need to travel to and from the airport. Mobile apps and online bookings allow for a seamless and paperless rental experience.
In conclusion, the car rental and car hiring industry has grown tremendously over the decades and generated significant economic opportunities and employment. There is still huge potential for growth especially in developing regions of the world. While competition will intensify, companies that are able to provide diverse and innovative fleet options, valuable services and a superior customer experience will thrive in the automotive market.