Portuguese Car Rental Industry Faces Financial Crisis

Due to the coronavirus pandemic and a decrease in international tourism, Portugal's Algrave's car rental industry is facing financial crisis.

According to Portugal Resident, the demand for car rentals is now lower than it was at the beginning of March. The majority of the area's 18,000 rental vehicles are currently parked in lots. 

While Portuguese tourists can help revive the hotel and restaurant industry, car rental relies primarily on foreign tourists. 

In April, the Association of Car Rental Companies in the Algrave warned that the region's 46 car rental companies were losing “millions of euros" and facing an "unprecedented crisis."