Despite fears of recession and inflation, the car rental sector looks set for a busy 2023, as 89% of people who rented a car in the last 12 months say they’ll do so again next year — the highest intent to rent metric since 2020.
That’s according to research from CarTrawler, a global B2B provider of car rental and mobility solutions to the travel industry, who also found that Covid anxiety has lessened, with customers valuing flexible cancellation, solid supplier reputation, and short wait time.
What’s more, CarTrawler anticipates extended demand for vehicles throughout next year, rather than the peaks and troughs previously witnessed. Its data found that rental customers are planning to hire more cars outside of the traditional holiday season, such as July and August, and instead extending breaks into quieter months like September and October — where availability and prices are more attractive.
"After a period of reduced travel, restrictions and regulations, the market really bounced back in 2022," said Patrick Callinan, director of insights at CarTrawler in a statement. "And while it’s encouraging to see it continue on that journey — with a clear appetite for return custom among experienced renters as we head into 2023 — the industry needs to remain aware of the bigger picture.
"By offering great value for money, flexible cancellation, and stand-out customer service the industry will attract new clients, while retaining its most loyal individuals, which will ultimately enable them to navigate a choppy economic climate."
See all comments