July 16, 2024

Amex GBT study reveals stable car rental sector

The global car rental sector has stabilised after more than three years of volatility, according to a study by American Express Global Business Travel (Amex GBT).

Entitled Ground Monitor 2024-2025, the study forecasts that car price rises, as well as the costs of buying and operating cars, should moderate in the coming 12 months across most locations.

Car rental rates in Europe are expected to rise in key business destinations such as Germany (5%) and the UK (6%). 

France rates are predicted to range between 3-4% for smaller vehicles. Rates are expected to drop as much as 15% for large and premium categories due to falling demand.

The US will see a 2.5% increase in car rental rates to March 2025. A 3.4% rise is forecast in Canada, as well as 1% in Brazil and 10% in Chile.

Benelux, the Nordics and South Africa can look forward to stable prices, while Australia can expect an average increase of 4%.

Gerardo Tejado, Senior Vice President – Professional Services at Amex GBT, said:“Ground transportation plays a crucial role in enabling businesses of all sizes, across many sectors, to operate efficiently — and is a key factor in the journey experience for travellers.

“With the data-driven analysis in this report, plus insights into the trends and sourcing strategies from Amex GBT Consulting, Ground Monitor provides valuable guidance to help corporate customers build their best ground programmes.” 

amexglobalbusinesstravel.com

MOST READ