People in the car rental market will switch from buying to renting vehicles by 2030
PORTLAND, ORAGON, USA, September 20, 2022 /EINPresswire.com/ — car rental market Outlook 2021-2027: The leasing service across the world is seen as a solution to the growing problems faced by companies for their mobility needs, which include financing vehicle maintenance and, more importantly, the management of residual risks. Automobile owners offer their fleet to other manufacturing companies on lease to transport their goods and products, for which they prefer to lease a fleet from leasing companies. Leasing an automobile is generally preferred by companies as a hassle-free mobility service that includes on-demand mobility and after-sales service facilities.
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Some of the factors driving the growth of the market include rising awareness about the benefits of leasing and people shifting from buying to leasing vehicles. Additionally, the original equipment cost at the time of collision is expected to hamper the growth of the market. Furthermore, the declared government policies to increase the usage of auto leasing at various levels are expected to provide lucrative opportunities for market growth shortly.
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Analysis of the COVID-19 scenario:
As the COVID-19 outbreak forces companies to increasingly ask their employees to work from home, commuting and non-essential travel has dropped significantly, leading to a sharp drop in the car rental business.
Car leasing companies are in distress due to temporary shutdowns to stop the spread of the COVID-19 outbreak.
Some of the car leasing companies have started waiving rents for drivers who drive vehicles owned by the ridesharing platform subsidiary.
Once the lockdown is over, businesses must follow safety protocols such as body temperature screening, social distancing and ensure high standards of sanitization, which will drive up costs.
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Key benefits of the report:
This study presents the analytical representation of the Car Rental market industry along with current trends and future estimations to determine impending investment pockets.
The report presents information related to key drivers, restraints, and opportunities, along with a detailed analysis of the car rental market share.
The current market is quantitatively analyzed from 2020 to 2027 to highlight the growth scenario of the Automotive Leasing market.
Porter’s Five Forces analysis illustrates the power of buyers and suppliers in the marketplace.
The report provides a detailed analysis of the car rental market based on the competitive intensity and how the competition will take shape in the coming years.
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Auto Leasing Market Research Report Questions Answered:
Who are the major Automotive Leasing market players active in the Automotive Leasing market?
What are the current trends that will influence the market in the coming years?
What are the market drivers, restraints and opportunities?
What are the projections for the future that would help to take new strategic steps?
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