Numbers are in, and rental operator numbers are  way  up in both revenue and fleet size.   -  Photo: Canva

Numbers are in, and rental operator numbers are way up in both revenue and fleet size. 

Photo: Canva

Despite continuing challenges around vehicle supply, staffing shortages, demand shifts, and the cloud of a recession, the U.S. car rental industry earned an estimated $36.1 billion in revenue for 2022, based on data collected by Bobit. That yearly total represents a 24.7% growth over 2019’s record year and is likely the highest year-over-year gain in industry history.

Meanwhile, the estimated number of new vehicles sold into rental fleets in 2022 represents less than half the total number of vehicles sold in 2019. However, rental companies are holding their cars in fleets longer to compensate. 

The high-pricing, tight fleet environment drove another new record for revenue per unit per month (RPU) of $1,424.

2022 U.S. Car Rental Market: Fleet, Locations, and Revenue

Company U.S. Cars in Service (Avg.) 2022 Number of U.S. locations 2022 U.S. Revenue Est. (millions) 2021 U.S. Revenue (millions)
Enterprise Holdings (includes Alamo Rent A Car, Enterprise Rent-A-Car, National Car Rental)1 1,200,000 5,500 19,915 15,664
Avis Budget Group (includes Payless, not Zipcar)2 425,0002 3,0002 8,4302 6,0452
Hertz (includes Dollar & Thrifty)2 365,0002 3,9002 5,7002 5,6002
Sixt2 29,0002 982 9702 650
Fox Europcar 18,571 27 391 330
ACE Rent A Car 12,000 75 120 100
NP Auto Group (Priceless & NextCar) 7,350 101 62 50
Green Motion U-Save Group 8,500 84 40 334
Rent-A-Wreck of America 1,500 60 15 16
Independents5 45,0005 3,8005 4505 4255
Totals 2,111,921 16,645 36,093 28,913

Statistics based on company-provided data, public documents, industry research, and ARN estimates. Revenue comes from U.S. car rental operations only. Fleet, location, and revenue numbers represent entire U.S. operations, including franchises.

1 Enterprise Holdings ends its fiscal year July 31.

2 ARN estimates.

3 Locations include kiosks.

4 2021 revenue represents U-Save only. Green Motion's purchase of U-Save closed September 2022.

5 Independents estimates based on available market data, figures and adjustments for recent openings, closures, and consolidations. Independents include Affordable/Sensible, and Economy.

“This year’s results are a testimony to the agility of the industry to change with the rapid fluctuations of market conditions and supply and demand,” said Chris Brown, executive editor of Auto Rental News.

“I never would’ve guessed the industry would’ve rebounded this quickly exiting the pandemic to reach record revenues. That said, the environment isn’t one to relax in, as those same pressures will ease only slightly in 2023.”

 -  Source: Car rental operator & Bobit data

Source: Car rental operator & Bobit data

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