U.S. Car Rental Industry Achieves Record Revenue

Rental car counters at Logan International Airport. Photo via Wikimedia.
Rental car counters at Logan International Airport. Photo via Wikimedia.

According to data collected and collated by Auto Rental News, the U.S. car rental market is expected to achieve a record total revenue of $26,127 billion in 2014, as reported by corporate, franchise and independent car rental companies for U.S. locations.

The $1.72 billion increase over 2013 represents the largest jump in overall revenue year-over-year since 2010 to 2011, when the industry accelerated coming out of the Recession.

This revenue is achieved with an average of 2,073,311 units in service in the U.S. in 2014, a new record as well; however, the total revenue increase outpaced the increase in fleet size.

Revenue per unit, per month (RPU) averaged $1,050 in 2014. While this is an increase over 2013, it is below the record average RPU achieved in 2011 and 2012 of $1,060.

“This record revenue is remarkable in light of some challenging conditions,” said Chris Brown, executive editor of Auto Rental News. “With the high number of recalls affecting fleet utilization and pricing — coupled with a softening used car market — car rental companies have done a good job in managing fleet and their bottom lines.”

Comment On This Story

Name:  
Email:  
Comment: (Max. 10000 characters)  
Please leave blank:
* Please note that every comment is moderated.

 
 

Newsletter: Sign up to receive latest news, articles, and much more.

Read the latest

Auto Focus Blog: A blog covering fleets, auto rental and the business of cars

Trump and Regulations: An Alt-Fuel View

With 2025 emissions targets back in review, manufacturers, alt-fuel, and alt-power suppliers weigh in on the potential impacts of Trump’s initiatives.

Why GM’s Telematics Announcement is a Really Big Deal

Enabling a telematics connection at the factory — and not through an aftermarket hardware installation — is a game changer for fleets.

Four Thoughts From the 2016 Conference Calls

Sifting through the notes of Avis Budget Group’s and Hertz Global Holdings’ recent fourth quarter conference calls give us some trend lines to watch out for in 2017. (Of course, this gives us an incomplete snapshot, as Enterprise Holdings is privately held.)

Job Finder: Access Top Talent. Fill Key Positions.

>