Published on : Jul 31, 2017
Albany, New York, July 31, 2017: Car hire has been the most common trend among many people. In U.K., Car rental has benefited significantly from VisitBritain’s campaign to promote destinations outside of the country’s major cities as places which can be missed and must be visited. A new study titled “U.K. Holiday Car Hire - June 2017” has been publicized to the wide repository of Market Research Hub (MRH) which analyzes the current market trends of car hire in U.K. Also, the study provides key insights to the market driving factors, innovation in the marketplace, issues and insights, industry development structure and expected market size until 2022.
This study starts by presenting an in-depth market summary, which covers market status as well as consumer behavior towards holiday car rental. It has been analyzed that the United Kingdom might not be the first country that comes to mind for those planning a holiday in Europe, but this is rapidly changing with 2016 showing a boom in international visitors coming to the U.K. The study further also adds that consumers still want to go on holiday abroad, evident from reports of strong bookings in the first half of 2017. However, many will be cutting back on expenses because of the weak Pound. This will likely mean that people will cut back on car hires.
Moreover, the research finds that 2015 and 2016 was a good year for holiday car hire, which is expected to slowdown in growth 2017 and 2018 as consumers rein in their spending. Despite tight finances, consumers are still keen on buying holidays, they want more transparency that is why several key players in the market are aiming to make the rental experience more transparent, such as MyTripCar. Nowadays, most holiday car rentals are direct bookings in U.K. However, rental brands can encourage bookings by investing in mobile technology to encourage spontaneous bookings, and by focusing on the varied range of holiday experiences that a car rental can provide.
The report further identifies key players in the market that are putting various efforts to remain competitive in the market. In terms of market share, Europcar enjoys an increase in market share and usage of Europcar by UK consumers has increased. Top three car rental brands in U.K. are Europcar, Avis Budget Group and Hertz. In this subsequent section, launch activity and innovation of players are also mentioned, such as Skurt, which is an Uber-style car rental app that supplies fleet cars on demand, FlightCar shuts down after selling technology to Mercedes, Google Maps uses historical data to gauge parking difficulty and Dubai set to launch pilotless air-taxis which is estimated to make positive impact on the market.
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