Sales in the Automobile Rental sector in Japan experienced considerable fluctuation over the past decade. From 2013 to 2017, the values showed a mixed trend with slight rises and declines, reaching a peak in 2017. The sector faced a significant downturn in 2020 due to the pandemic, with a marked 44.01% drop. However, the market rebounded impressively in 2021 with a 60.68% increase, stabilizing around 41.95 million Japanese yen per employee by 2023. Over a longer period, the 5-year CAGR from 2018 to 2023 was approximately -0.02%.
Future trends to watch for include:
- Sustainability and green initiatives in the automobile rental sector.
- Technological advancements such as the integration of electric vehicles.
- Shift in consumer preferences towards rental services versus ownership.
