Increasing population and internet penetration along with increasing business car rental due to consistent bookings from corporate customers to attend events such as exhibitions, conferences, workshops and meetings projects has driven the growth of car rental and leasing market in South Africa.
South Africa Car Rental and Leasing market augmented positively from 2013 to 2018 at a positive CAGR during the review period 2013-2018. The car rental and leasing market was largely dominated by foreign companies operating in the country including Avis, Hertz, Budget and Europcar. Car rental and leasing market in South Africa was driven by business car rental due to consistent bookings from corporate customers to attend events such as exhibitions, conferences, workshops and meetings. Industry players also formed strategic partnerships with each other to boost sales. In 2013, online cab aggregators entered the South African transportation industry with the launch of Uber in Johannesburg. Uber and Taxify are the major players in the cab aggregator market. At numerous occasions, violence has erupted between metered taxi operators and online cab aggregator drivers in the country as the metered taxi operators accused the online cab aggregators of stealing business and competing unfairly due to low fares which could not be matched.
Analysts at Ken Research in their latest publication “South Africa Car Rental and Leasing Market Projections to 2023 – By Business Model (Self Drive, Cab Aggregator, Car Leasing, Minibus Taxi, Metered Taxi and Airport Transfers) and By End User (Mining, Logistic & Courier and Others)” believe that greater flexibility in car hiring system by corporate booking and long term leasing services companies, strict implementation of rules for governing taxi market, better access to internet services at reasonable rate, promotion of ride sharing, provision of more value added services, improvement in driver and rider safety and tie- ups and collaborations between different companies will aid the car rental and leasing companies and cab aggregators to grow and achieve higher profits.
South Africa Car Rental and Leasing market is highly concentrated with the presence of few big players constituting majority of the market. The major competition parameters are price, fleet variations, value added services offered, age of the car and ease of availability. A major reason for increase in car rental and leasing market will be utilization of rental and leased vehicles for executing jobs in app based taxi market. Hence, as the online cab aggregators market expands, it will also increase the demand for car rental and leasing market. The roll-out programme for e-Visas in South Africa along with the low valuation of rand should make South Africa a thriving tourist destination for foreign travelers in the future, thus expanding the car rental industry too. Moreover, businesses such as renting a car on per day basis to professional drivers for use as a commercial purpose such as using it for ferrying tourists or for using it to fulfill short term needs of other companies is expected to increase the revenues of car rental and leasing companies in the future.
Keywords:-
South Africa Car Rental And Leasing Market
Self Drive Market South Africa
South Africa Cab Aggregator Market
Northern South Africa Taxi Market
Southern South Africa Taxi Market
Eastern South Africa Taxi Market
Western South Africa Taxi Market
South Africa Taxi Market
Challenges South Africa Car Rental
Minibus Taxi Market In South Africa
Metered Taxi Market In South Africa
Airport Transfers In South Africa
Fuel Prices In South Africa Taxi Market
Transport Structure In South Africa
South Africa Tourism Taxi Market
South Africa Uber Market
South Africa Taxify Market
South Africa Uber Company Profile
South Africa Hertz Company Profile
South Africa Europcar Company Profile
South Africa Avis Company Profile
Key Segments Covered:-
South Africa Car Rental and Leasing Market:
By Region:
Northern South Africa
Southern South Africa
Eastern South Africa
Western South Africa
By Type of Booking:
Online Booking
Offline Booking
By Type of End Users:
Mining Company Executives
Logistic and Courier Companies
Financial Institutions, Consultancy, Hospitality Industry and Others
South Africa Cab Aggregator Market:-
By Region:
Northern South Africa
Southern South Africa
Eastern South Africa
Western South Africa
Key Target Audience:-
Car Rental Companies
Car Leasing Companies
Online Cab Aggregators
Taxi Companies
Private Equity Ventures
Time Period Captured in the Report:-
2013-2018 – Historical Period
2019-2023 – Future Forecast
Companies Covered:-
Car Rental and Leasing Companies:-
Avis Budget Group Inc, Europcar Groupe SA, Hertz Corp, First Car Rental SA and Imperial Holdings Ltd, Uber and Taxify
To know more, click on the link below:-
Related Reports By Ken Research:-
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
