European Production Value of Renting and Leasing of Motor Vehicles by Country

In 2023, the European production value of renting and leasing of motor vehicles saw varied year-on-year percentage changes across different countries. Germany led with a significant increase of 13.12%, while the United Kingdom and France observed modest rises of 1.89% and 6.78%, respectively. Italy and the Netherlands showed moderate growths of 2.39% and 2.97%. Spain experienced a 5.75% increase, and Belgium grew by 3.85%. Poland recorded a notable increase of 10.08%, contrasting with Denmark’s stagnation at 0.0%. Portugal, Sweden, and Finland had modest upticks of 2.45%, 4.59%, and 3.0%, respectively. Norway saw a slight rise of 1.7% while Romania increased by 3.88%. The Czech Republic and Switzerland grew at 0.48% and 6.53%. Hungary and Greece showed minimal changes at 1.9% and -4.06%. Luxembourg, Iceland, and Lithuania registered increases of 5.4%, 5.02%, and 9.44%, respectively. Bulgaria rose by 5.34%, whereas Slovakia and Croatia had minimal increments of 1.02% and 0.17%. Serbia, Latvia, Slovenia, and Estonia recorded increases of 7.78%, 6.48%, 9.59%, and 4.37%. Cyprus and Malta saw rises of 4.33% and 2.36%. Bosnia and Herzegovina increased by 5.39%.

Future trends to watch for in the European production value of renting and leasing of motor vehicles include the transition to electric and hybrid motor vehicles, the impact of regulatory changes, and economic shifts in the post-pandemic period. Additionally, adopting car-sharing models and digitalization in rental services will likely reshape the landscape, providing growth opportunities and competitive dynamics to look out for over the next few years.