Global Vehicle Renting & Leasing Industry
The global car rental sector can be divided into two main categories: insurance replacement rentals and other general rentals. The insurance replacement sector is involved in renting vehicles to people who have lost their own vehicles through accident, breakdown or theft. The general sector encompasses both airport and non-airport segments, and covers companies renting cars mostly to business and leisure travelers.
As the car rental industry is not guided by regulatory standards, it is not tied to generalized business patterns, reports Global Industry Analysts. Companies, therefore, are aiming simply to boost revenue when devising a set of rules to follow. Customers can be at a disadvantage concerning price and service due to the unregulated nature of this system, and tend to research local agencies and consult online offers to find the best rental prices.