A car rental company rents automobiles for short periods of time, generally ranging from a few hours to a few weeks. It is often organized with numerous local branches (which allow a user to return a vehicle to a different location), and primarily located near airports or busy city areas and often complemented by a website allowing online reservations.
The key factors driving the growth of the car rental market are rising internet and mobile penetration, growth in urban population, rising population of HNWIs and growing economy. Some of the noteworthy trends and developments of this industry are consumer spending trend, growth of virtual car ownership, development of rental management system and growth in used car auction. However, the expansion of global car rental market is hindered by global financial turmoil and liquidity constraints and heavy capital requirement.
The report “Global Car Rental Market” provides an in-depth analysis of the global car rental market, with focus on key markets of the US, Brazil, and China. The major trends, growth drivers as well as issues being faced by the industry are being presented in this report. The three major players in the industry, Enterprise Holdings, Avis Budget Group, Inc. and Hertz Global Holdings, Inc. are being profiled, along with their key financials and strategies for growth.
By combining SPSS Inc.’s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the industry. We employed various significant variables that have an impact on this industry and created regression models with SPSS Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.