The turnover in the Renting and Leasing of Motor Vehicles sector in Finland has demonstrated a strong upward trend from 2013 to 2023, reaching 1070.0 million Euros in 2023. Noteworthy increases occurred in 2016 and 2017, with year-on-year variations of 7.55% and 25.8%, respectively. The sector has shown resilience, particularly noticeable from 2019 with a CAGR of 9.06%, despite a dip in 2020 due to external factors. The last two years presented year-on-year growth rates of 3.56% in 2022 and 3.42% in 2023, indicating consistent performance. Over the past five years, the CAGR value is 2.62%.
Future trends to watch in the sector include:
- The impact of sustainable and electric vehicle adoption on rental preferences and leasing models.
- Advances in technology and digital platforms enhancing customer experiences and operational efficiencies.
- Economic factors and potential regulatory changes influencing market dynamics and growth trajectories.
- Increasing customer focus on flexible and short-term leasing options over traditional long-term contracts.
