The employment in the renting and leasing of motor vehicles sector in Finland has displayed a fluctuating yet overall increasing trend over the last decade. From 2013 to 2017, there were notable growth spurts, particularly in 2015 and 2017 with year-on-year increases of 11.8% and 12.7%, respectively. The employment hit a peak in 2019 but then slightly declined in 2020 due to the global pandemic. After stabilizing in 2021 and 2022, employment reached 1,240 units in 2023, marking a 1.31% increase from the previous year. The five-year CAGR from 2019 to 2023 was marginally negative at -0.064%. The forecast from 2024 to 2028 suggests moderate growth, with a five-year CAGR of 0.94% and overall growth of 4.78%, reaching 1,310 units by 2028.
Future trends to watch for in this sector include:
- Technological advancements in vehicle management and rental systems
- Impact of sustainable and electric vehicles on the rental market
- Shifts in consumer behavior towards short-term leasing over owning vehicles
- Effect of economic fluctuations on corporate and individual rentals
