In 2024, long-term car rental (LTR) for cars and SUVs recorded an impressive 949,162 contracts, reflecting a 33.6% increase compared to the previous year. According to data from UNRAE processed by the Ministry of Transport, the sector continues to expand due to the growing demand from companies and private individuals, with a clear predominance of corporate customers.
Companies driving the growth
A striking 86.1% of long-term rental contracts were signed by companies, totaling 817,553 units, with a 31.5% increase from 2023. Among these, non-automotive companies maintained dominance, accounting for 72.4% of the total and showing a 29.1% growth. Short-term rental companies also saw a notable rise, with their share increasing from 5.8% in 2023 to 7.7%.
Private customers accounted for 13.9% of the market, equivalent to 131,609 contracts, but experienced an even higher growth rate of 48% compared to the previous year. This trend highlights the increasing preference for flexible mobility solutions over vehicle ownership.
Conclusion
Long-term car rental is becoming increasingly popular among businesses and individuals due to its flexibility and access to new-generation vehicles without ownership costs. What do you think about this industry growth? Share your thoughts in the comments below!
