The Portuguese car rental market is expected to reach €865 million by the end of 2023, representing an increase of more than 10% compared to the previous year.
Numbers are highlighted Notify D&B in a press release based on an analysis carried out in the car rental sector.
In the same document we read that “in 2022, the business of this sector grew by 64% compared to 2012, amounting to 780 million euros.”
To respond to the increase in demand observed in 2022, the car rental company fleet was expanded by 30%, reaching 80,452 units in 2022. Despite this expansion, it is stated that “the sector is facing a significant shortage of vehicles and companies expect this to accelerate vehicle purchases in the near future.”
Informa D&B also highlights that the offer of car rental companies is significantly concentrated: the combined market share of the five main operators in 2022 will be almost 62%, and the share of the ten largest operators will be around 80%.
Source: The Portugal News