Companies in this industry rent and lease passenger cars, trucks, and trailers. Major companies include AMERCO (parent of U-Haul International), Avis Budget Group, Enterprise Holdings, Hertz Global Holdings, and Ryder (all based in the US), along with China Auto Rental (China), Europcar (France), LeasePlan (the Netherlands), and Sixt (Germany).
Demand is driven by business and leisure travel, as well as by the housing market. The profitability of individual companies depends on efficient operations and the ability to finance inventory. Big companies have economies of scale in acquiring vehicles and customers. Small companies can compete effectively by providing better service, alternative products, or lower prices. The US industry is highly concentrated: the 50 largest companies generate more than 80% of revenue.
Products, Operations & Technology
Major services include the rental and leasing of passenger cars, which accounts for about 65% of industry revenue, and the rental and leasing of trucks, trailers, and buses, which accounts for about 30%.