Mexico Car Rental Market

Mexico Car Rental Market, By Car Type (SUV, Hatchback, Sedan) By Booking Type (Offline Booths, Mobile Application, Aggregator & Booking Websites, and others), By Airport Facility (International, Domestic)- Size, Share, Outlook, and Opportunity Analysis, 2023 - 2030

A company that rents automobiles to the general public for brief periods of time, typically ranging from a few hours to a few weeks, is known as a car rental, hire car, or car hire agency. It is typically arranged in a network of numerous local branches, the majority of which are situated close to busy airports or city centers and frequently complemented by websites that permit online reservations. These branches enable customers to return a vehicle to a different location .People who do not own a car, travelers who are out of town, or owners of damaged or destroyed vehicles who are waiting for repairs or insurance compensation are the primary customers of car rental companies. Vans and trucks can be rented from car rental companies to meet the needs of the self-moving industry. In some markets, other types of vehicles such as motorcycles and scooters may also be available. Car rental companies typically provide additional services in addition to the standard rental of a vehicle, such as insurance, GPS navigation systems, entertainment systems, mobile phones, portable Wi-Fi, and child safety seats.

Market Dynamics

Mexico Car Rental Market size was valued at US$ 1,108.1 Million in 2022, exhibiting a compound annual growth rate (CAGR) of 10.1% from 2023 to 2030. The rising number of investments in the country is expected to foster the market growth of car rental. The Mexican car rental market is also expected to expand as a result of favorable government initiatives via increased use of electric vehicles (EVs). For instance, Budget Rent-A-Car's Mexican representative, Grupo Guepardo, entered into a commercial alliance with JAC, a Chinese automaker, in February 2022. As part of the alliance, Grupo GuepardoH will supply Budget with a fleet of City Cars, including fully electric versions of its JAC E10X. It will be the first Mexican business to have an entire fleet of electric vehicles.

Key Features of the Study

• This report study showcase the current scenario and the future potential of Mexico Car Rental Market. The market for the same has been segmented on the basis of car type, booking type, and airport facility.
• This report provides in-depth analysis of the Mexico car rental market and provides market size in terms of value (US$ Million) and compound annual growth rate (CAGR) (%) for the forecast period (2023 – 2030)
• It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market. It provides valuable insights about market drivers, challenges, opportunities, new product launches, and competitive strategies adopted by the leading players.
• It profiles leading players in the Mexico car rental market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, and key developments
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions with respect to their future product launches, market expansion, and marketing tactics
• Stakeholders would greatly benefit in decision-making through various strategy matrices used in analyzing the Mexico car rental market

Detailed Segmentation

• Mexico Car Rental Market, By Car Type:
• SUV’s
• Hatchback
• Sedan
• Mexico Car Rental Market, By Booking Type:
• Offline Booths
• Mobile Application
• Aggregators & Booking Websites
• Others
• Mexico Car Rental Market, By Airport Facility:
• International
• Domestic
• Company Profiles
• National Car Rental
• EUROPCAR GROUP S.A
• MEX Rent a Car
• Budget Rent A Car System Inc.
• Fox Rent A Car
• Thrifty Car Rental, Inc
• THE HERTZ CORPORATION
• Sixt SE
• Avis Budget Group Inc.
• Alamo