Rental cars in most cases are cheaper than public transport such as buses or trains. Therefore, to explore the beauty of Mexico, most of the travelers adopt rentals cars for travelling. Also, renting a car saves time, money, and offer comfort to travel anywhere with many car options. Therefore, rental cars are gaining popularity among end users.
Market Dynamics
The rising number of investments in the country is expected to foster the market growth of car rental. For instance, FlexClub, a South African a startup that matches investors and drivers for ride-hailing services, closed a $1.2 million seed round led by CRE Venture Capital. The company is using financing to add team members and expand the continent via a partnership with Uber Mexico. FlexClub’s company manages the rental income, investment, and disbursement of funds to all parties and also handles insurance, maintenance, and upkeep of the cars. Hence, rising investment is projected to propel the market growth.
Rising initiatives by major players for promoting the car rental services in the region is expected to foster the market growth over the forecast period. For instance, in January 2016, Avis Budget Group, Inc. entered into a partnership with JetBlue and JetBlue’s TrueBlue loyalty rewards program. The partnership offers Avis Budget Group to promote its Avis Car Rental, Budget Car Rental and Payless Car Rental brands, products, and services as well as money-saving offers directly to JetBlue customers and TrueBlue members.
Car rental business is highly seasonal in nature and this can interrupt the travel patterns. Moreover, operating expenses such as rent and insurance is fixed and these charges cannot be reduced during seasons. Also, sometimes sales of insurance are carried out by brokers, and this could reduce the profitability of car rental companies. This the factor is also projected to hamper the market growth of car rental in Mexico.
Key features of the study:
- This report provides in-depth analysis of car rental market and provides market size (US$ Million) and Cumulative Annual Growth Rate (CAGR %) for the forecast period (2019 – 2027), considering 2018 as the base year
- It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
- This study also provides key insights about market drivers, restraints, opportunities, key developments, trends, regional outlook, and competitive strategy adopted by key players
- It profiles key players in the Mexico car rental market based on the following parameters – company overview, financial performance, service offerings, market presence, distribution strategies, key developments and strategies, and future plans
- Key companies covered as a part of this study includes The Hertz Corporation, Sixt SE, Avis Budget Group Inc., Alamo, National Car Rental, Europcar Group S.A., MEX Rent a Car, Budget Rent A Car System, Inc., Fox Rent A Car, and Thrifty Car Rental, Inc. among others.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decision regarding their future service launches, technology up-gradation, market expansion, and marketing tactics
- The Mexico Car Rental market report caters to various stakeholders in this industry including investors, suppliers, Car Rental manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the Car Rental market
Detailed Segmentation:
- Mexico Car Rental Market, By Car Type:
- Economy Car
- Compact Car
- Intermediate Car
- Premium Car
- Luxury Car
- Sports Utility Vehicle
- Others (includes people carrier, pick-up trucks etc.)
- Mexico Car Rental Market, By Booking type:
- Offline Access
- Mobile Application
- Other Internet Access
- Mexico Car Rental Market, By City:
- Monterrey
- By Car Type:
- Economy Car
- Compact Car
- Intermediate Car
- Premium Car
- Luxury Car
- Sports Utility Vehicle
- Others
- By Booking Type:
- Offline Access
- Mobile Application
- Other Internet Access
- Cancun
- By Car Type:
- Economy Car
- Compact Car
- Intermediate Car
- Premium Car
- Luxury Car
- Sports Utility Vehicle
- Others
- By Booking Type:
- Offline Access
- Mobile Application
- Other Internet Access
- Mexico City
- By Car Type:
- Economy Car
- Compact Car
- Intermediate Car
- Premium Car
- Luxury Car
- Sports Utility Vehicle
- Others
- By Booking Type:
- Offline Access
- Mobile Application
- Other Internet Access
- Guadalajara
- By Car Type:
- Economy Car
- Compact Car
- Intermediate Car
- Premium Car
- Luxury Car
- Sports Utility Vehicle
- Others
- By Booking Type:
- Offline Access
- Mobile Application
- Other Internet Access
- Los Cabos
- By Car Type:
- Economy Car
- Compact Car
- Intermediate Car
- Premium Car
- Luxury Car
- Sports Utility Vehicle
- Others
- By Booking Type:
- Offline Access
- Mobile Application
- Other Internet Access
- Riviera Maya
- By Car Type:
- Economy Car
- Compact Car
- Intermediate Car
- Premium Car
- Luxury Car
- Sports Utility Vehicle
- Others
- By Booking Type:
- Offline Access
- Mobile Application
- Other Internet Access
- Riviera Maya
- By Car Type:
- Economy Car
- Compact Car
- Intermediate Car
- Premium Car
- Luxury Car
- Sports Utility Vehicle
- Others
- By Booking Type:
- Offline Access
- Mobile Application
- Other Internet Access
- Company Profiles
- The Hertz Corporation*
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments
- Future Plans
- Sixt SE
- Avis Budget Group Inc.
- Alamo
- National Car Rental
- Europcar Group S.A.
- MEX Rent a Car
- Budget Rent A Car System, Inc.
- Fox Rent A Car
- Thrifty Car Rental, Inc.
“*” marked represents similar segmentation in other categories in the respective section.
Table of Content - Mexico Car Rental Market
