Volkswagen Financial Services UK’s (VWFS) Rent-a-Car service released figures showing that there has been an increase in rental bookings this year. Volkswagen saw a 144% rise in rental bookings in November compared to the same period last year, and predicts an increased demand for larger vehicles for family trips and van rentals for home deliveries in December.
Coupled with the semi-conductor shortage limiting the supply of new vehicles to market, many Brits are instead making use of rental vehicles that are either larger or more reliable than their current vehicles, said VWFS in a statement. Additionally, van rental demand has surged as more people are relying on online shopping to buy their Christmas gifts. And with the semi-conductor shortage continuing to impact the delivery of new vehicles, Rent-a-Car gives businesses the flexibility to increase their fleet size to meet this demand, according to VWFS.
Utilization for VWFS Rent-a-Car is currently at 70%, 13% higher than last year.
“This substantial growth in the rental market can be attributed to a number of factors around a shortage of new vehicles, increasing ease to book and for lots of people, a new way of travelling," said Mark Forton, director of mobility services at Volkswagen Financial Services UK. "People who perhaps have no vehicle or run smaller vehicles year-round are hiring larger, more reliable vehicles to fulfil their Christmas plans of visiting friends and family – which will hopefully be very different from last year’s muted festive season.”