#Philippines vehicle rental industry portfolio

[kenresearch1]

Philippines car rental market is in the growing stage, driven by the increase in disposable income and the rising demand from tourist activities: Ken Research

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With the Covid’19 pandemic getting over and removal of travel restrictions, the market is again picking up and is expected to continue growing in the coming years as renting a car for travel is faster and more convenient than public transport or other means to get around the city.

Covid Impact on Market: Before the pandemic, between 2017 and 2019, the market was surging at a steady rate as the service was becoming more popular among users due to its affordability and convenience and higher internet penetration. Post pandemic, the market demand was highly impacted and negatively affected. The long duration of lockdowns forced companies to lay off the vehicles to reduce their loss and hence, the fleet size decreased.

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Demand from Tourist Activities: With the travel restrictions and safety concerns, the tourist movement completely stopped. Along with that, offices were operating remotely, hence there was not much demand in the market. With the removal of travel restrictions, the market is again picking up and is expected to continue growing in the coming years.

Increase in Disposable Income: With an increase in disposable income of people from the previous year, the paying capacity of people have increased. With this people has been spending more than earlier on renting cars.

Analysts at Ken Research in their latest publication “Philippines Car Rental Market Outlook to 2027F - Driven by the increase in tourism and business activities along with deeper internet penetration and adoption of digital services.” observed that the Philippines car sharing market is expected to showcase considerable growth in the coming five years. In the upcoming years, it is predicted to expand more rapidly due to increased internet penetration and the adoption of smartphones. The Philippines Car Rental Market is expected to grow at robust CAGR over the forecasted period 2022P -2027F.

Key Segments Covered in the report

Philippines car Rental Market

By Type of Booking

Online market

Offline market

By Type of Car

Small Cars(PHP 3500-7500 / Per trip)

Medium(PHP 3500-7500 / Per trip)

Luxury(PHP 7500+)

By Purpose

Leisure

Business

Philippines Car Leasing Market

By Type of Region

Manila

Luzon

Visayas

Mindanao

By Time Duration

1 year

2 year

3 year

4 or more year

By Vehicle Price Range

Sedan(PHP 20000-35000

SUV(PHP 35000-50000)

Premium(PHP 50000+)

By Type of End User

Corporate

Retail Individuals

Philippines Ride Hailing Market

         By Type of Region

Metropolitan

Non Metropolitan

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Philippines Ride Sharing Market

By Point of Service

Rest Area

At Airport

By Type of Car

Sedan

SUV

By Type of Distance

Short distance

Long distance

Philippines Self-Drive Car Rental Market

By Type of Region

Metro cities

Non metro cities

By Type of Booking Channel

Online

Offline

By Usage

Intercity

Intracity

By Time Period

1-2 days

A week

A month

By Type of Car

Standard (PHP 1500 + / per hour)

Luxury (PHP 1000-4000/24hours)

By Type of Booking Period

Weekend

Weekdays

By Segment of Car

Standard

luxury

By Status of Ownership

Owned

Leased

By Point of Service

At Airport

Rest area

Key Target Audience

Car Rental Service Providers

Car Rental Companies aiming to establish in the Philippines

Philippines Automotive Industries

Government Bodies & Regulating Authorities

Venture Capitalist targeting the car rental market

Automotive industry association

Car Manufacturers

Existing Car Rental Companies

OEM Dealerships

New Market Entrants

Investors

Car Rental Associations

Time Period Captured in the Report:

Historical Period: 2017-2022

Base Year: 2022

Forecast Period: 2022-2027

Companies Covered:

Car Rental

Diamond Rent-a-Car

Luxicar

Voyg

Rent a Car ECLPI

Avis

Hertz

SafeRide

Self-Drive

Europcar

Thrifty

Juzzr Car Rental

Hertz

Voyg

SafeRide

VPI

      Ride Hailing

Grab

JoyRide

Hirna

Maxim

     Ride Sharing

Grab

Hirna

      Car Leasing

Orix

Avis

Diamond Rent-a-Car

Europcar

Herts

ECLPI Rent a Car

Key Topics Covered in the Report

Overview and Genesis of Car Rental Market in Philippines

Ecosystem of Philippines Car Rental Market

Business Cycle of Philippines Car Rental Market

Timeline of Major Players of Philippines Car Rental Market

Value Chain Analysis of Philippines Car Rental Market

Philippines Car Rental Market Sizing, 2017- 2022

Market Segmentations of Car Rental Market in Philippines

Snapshots on different Car Rental Markets in Philippines

Industrial Analysis of Car Rental Market in Philippines

Competitive Analysis of Car Rental Market in Philippines

Future Outlook and Projections of Car Rental Market in Philippines

For More Insights On Market Intelligence, Refer to the Link Below: –

Philippines Car Rental Market Outlook to 2027

Related Reports by Ken Research: –

Vietnam Car Rental Market Outlook to 2027F

Belgium Car Rental Market Outlook 2027F

[goldsteinresearchinsights]

Asia-Pacific Car Rental Market to Grow at a CAGR of 6.2% 2024

According to Goldstein Research, Asia-Pacific car rental market is expected to reach USD 21.4 billion by the end of 2024, growing at a CAGR of 6.2% over the forecast period, 2016-2024. The urbanization in APAC countries and rising foreign tourists that are privileged to ride vehicle as per government are the major driving force in the growth of Asia-Pacific car rental market. Asia-Pacific Car rental market segmentation has been done on the basis of rental type, service type, vehicle, mode of booking and geography. Economy cars accounted for the largest revenue share in 2016, followed by multi-utility vehicles in the vehicle type segment. On the basis of services type segment, self-driving vehicles accounting for largest market share. Asia-Pacific Car rental market is dominated by China, which accounts for over 27% market share. China is closely followed by India and Philippines, which are expected to grow at a fastest rate over the forecast period.

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Market Segmentation

On the basis of our in-depth analysis, Asia-PacificCar Rental Market can be segmented as follows:

By Rental Type

Interstate     Services

Intrastate     Services

Airport     Transfers

By Services Type

Chauffeur Drive

Special Events

Self-Driving

Car Pool

Taxi Services

By

 Vehicles

Luxury Cars

Executive Cars

Economy Cars

Sports Utility     Vehicles

Multi Utility     Vehicles

By Mode of Booking

Online Bookings

App-based car     rental services

Telephonic car     rental services

Web-Based Car     Rental Services

Offline Bookings

By Region

China Car Rental     Market Analysis, 2016-2024

Japan Car Rental     Market Analysis, 2016-2024

India Car Rental     Market Analysis, 2016-2024

Australia Car     Rental Market Analysis, 2016-2024

Taiwan Car     Rental Market Analysis, 2016-2024

South Korea Car     Rental Market Analysis, 2016-2024

Indonesia Car     Rental Market Analysis, 2016-2024

Thailand Car     Rental Market Analysis, 2016-2024

Singapore Car     Rental Market Analysis, 2016-2024

New Zealand Car     Rental Market Analysis, 2016-2024

“Asia Pacific Car Rental Market Outlook 2024” contains detailed overview of the Asia Pacific car rental market. On the basis of our in-depth analysis, market can be segmented in terms of market segmentation by rental type, service type, vehicles and mode of booking and countries.

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The Asia Pacific Car Rental Market Report encompasses the competitive outlook of major players that summarises the business strategies, revenue distribution, product portfolio, financial analysis, R&D activities and investments. The comprehensive analysis of the car rental market report helps the clients to assess their business strategies as per the competitive environment in the market space.

Major players of the Asia Pacific car rental market discussed in the report are Uber, Avis, Ola, Hertz, DidiChuxing, Sixt, Zoomcar, Europcar, GrabTaxi, Hailo, Line Taxi and Blue Bird,etc.

Further, Asia Pacific Car Rental Market Analysis Report encompasses the major trends & growth opportunities, market dynamics, and other growth factors. The Car Rental Market outlook also comprises of key challenges for the market players, risk analysis, SWOT Analysis, BPS analysis and Market Attractiveness. The report also includes the expert analysis which provides a complete overview of the market post analysis of the economic, political, environmental & social factors of each region and country.

About Goldstein Research

Based in the US, Goldstein Research currently has a strong presence in the American and Asian countries. In the next five years, we strive to expand our reach to 50+ nations spanning across Europe, Asia and parts of the Middle East and Africa. We strive to realize a strong brand presence globally through our quality research and forecasting solutions.

Our mission is simple: to develop insightful business solutions, help our clients make powerful future decisions to keep them well ahead of the game which is the industry, and leave a mark across businesses and communities through our well-defined ideas and clear cut forecasts.

Our market research reports provide in-depth analysis of global and regional variations along with competitors’ overview.

Our analysts working on automotive industry market research report to help various tech-giants, tech start-ups and entry players to assess the current and upcoming business scenario. We believe in vigorous examination of the current industry scenario and build around creative ideas and approaches that are most suitable to our clients’ needs and business agenda.

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sales@goldsteinresearch.com

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[autobizupdate]

Hertz appoints General Sales Agents in India and Vietnam to drive outbound sales

SINGAPORE, Sept. 25, 2017 /PRNewswire/ -- Hertz Global Holdings, Inc. (NYSE: HTZ) announced that its wholly owned subsidiary, The Hertz Corporation, has appointed Discover the World and InterGlobe Air Transport Limited (IGAT) as General Sales Agents (GSAs) for Vietnam and selected India markets respectively. The GSAs will promote Hertz's products and services around the globe to domestic travel trade partners, corporate customers and leisure travellers.

Hertz appoints General Sales Agents in India and Vietnam to drive outbound sales

  Both GSA partners were selected for their deep expertise in travel and strong local networks. In India, Hertz's outbound sales efforts are supported in Bengaluru, Delhi and Mumbai by Discover the World, an international GSA partner of Hertz since 1995.

Research1 indicates that around 14.5 million travelers from India visited other countries in 2016, while the number of people from Vietnam traveling to the rest of the world amounted to approximately 4.8 million. According to the report, these figures are poised to grow, with India and Vietnam forecasted to be among the 5 fastest growing outbound travel markets in Asia Pacific by 2021.

Michel Taride, Group President, Hertz International, said: "With the number of international trips from India and Vietnam forecasted to grow by almost 10 per cent over the next few years, we view these countries as important source markets for our worldwide rentals.

"Our valued and renowned partner Discover the World has been successfully supporting Hertz's outbound sales in Asia for 22 years. We are therefore truly pleased to see this relationship expanding as we appoint Discover the World Vietnam. In addition, IGAT's great expertise in travel distribution across India will help us offer convenient and seamless car rental to more corporate and leisure customers before they embark for their destinations."

Sunil Talreja, VP-International Sales and Services, InterGlobe Air Transport Limited (IGAT), said: "With our pan-India reach and extensive corporate customer base, we will be able to further expand sales of Hertz products and services to our country's citizens travelling abroad.

"We are totally confident that our discerning network in India will very much welcome our collaboration with a renowned, truly global player such as Hertz."

Amanda Yang, Vice President Asia Pacific, Discover the World, added: "With Vietnam's booming economy and Vietnamese citizens being granted access to international driving permits since October 2015, the partnership comes at just the right time.

"The team's extensive experience in the travel industry and strong relationships with local networks will enable a fast distribution of Hertz's products and services across all available channels."

In India, IGAT will distribute car rental products from the Hertz brands across the travel trade, small and medium enterprises (SMEs) and large local companies in selected Indian cities. Meanwhile, Discover the World India will continue to operate as the car rental company's GSA servicing the travel trade and global corporations in Bengaluru, Delhi and Mumbai.

A leader in global travel services and distribution, Discover the World also operates as Hertz's GSA in Indonesia, Malaysia, Philippines, Taiwan and Thailand.

In India, Hertz' international reservations can be made through IGAT on +011 435 132 25 (Toll-free), or by emailing hertzindia@interglobe.com; and through Discover the World on +91-22 29210300, or by emailing hertz@discovertheworld.co.in.

In Vietnam, Hertz's international car rental reservations are available by calling +8428 6291 2289 or emailing hertz@discovertheworldvietnam.com.

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About The Hertz Corporation

The Hertz Corporation, a subsidiary of Hertz Global Holdings, Inc., operates the Hertz, Dollar, Thrifty and Firefly vehicle rental brands in approximately 9,700 corporate and franchisee locations throughout North America, Europe, The Caribbean, Latin America, Africa, the Middle East, Asia, Australia and New Zealand. The Hertz Corporation is one of the largest worldwide airport general use vehicle rental companies, and the Hertz brand is one of the most recognized in the world. Product and service initiatives such as Hertz Gold Plus Rewards, Ultimate Choice, Carfirmations, Mobile Wi-Fi and unique vehicles offered through the Adrenaline, Dream, Green and Prestige Collections set Hertz apart from the competition. Additionally, The Hertz Corporation owns the vehicle leasing and fleet management leader Donlen Corporation, operates the Hertz 24/7 car sharing business in international markets and sells vehicles through Hertz Car Sales. For more information about The Hertz Corporation, visit: www.hertz.com.

Media Contact Hertz Media Relations  Telephone: (844) 845-2180 (toll free from the U.S.) and (+1) 239-301-6300  Email: mediarelations@hertz.com

About Discover the World 

Discover the World has earned a reputation as a leader in global travel distribution in its 37 years of operation. Discover's success in developing a global network of offices in 81 countries capable of exceptional representation performance is unmatched. With a portfolio of over 100 clients across the airline, hospitality, cruise, car and technology partners utilizing its sales, marketing and business process outsourcing services, Discover the World remains a dominant innovator for the travel industry.

About InterGlobe Air Transport

InterGlobe Air Transport (IGAT) Ltd. is part of the successful travel conglomerate - InterGlobe Enterprises - in India. Incorporated in 1989, IGAT is a leading representation company and provides diverse expertise across passenger and cargo sales. IGAT presently handles a portfolio of 10 international airlines and APT-an Australian river cruise company.

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Read this news on PR Newswire Asia website: Hertz appoints General Sales Agents in India and Vietnam to drive outbound sales

[kenresearch1]

The increase in internet penetration and adoption of smart phones in the country will boost Philippines Car Rental Market: Ken Research

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1.With increase in internet penetration and digital adoption in the country, car rental services are shifting to online platforms for direct bookings and confirmations.

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With the increase in internet penetration and adoption of smart phones, the market for car rental services has expanded, hence becoming easier for people to access.  Ongoing developments in the Philippines car rental market such as integrating Services with Internet of Things, Online Bookings, Unique Business Models, Reliable Personal Identification Process, and Scanned Fingerprints are helping the car rental market to grow. Car rental companies are moving to online platforms for direct bookings and confirmations as internet usage and digital adoption rise throughout the nation. As a result, the procedure is hassle-free and contactless.

2.In the last few years, the mode of booking for car rental services has shifted from offline to online platforms

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In the last few years, the mode of booking for car rental services has shifted to online platforms with 60% bookings being made online. This can be attributed to the increasing internet penetration and familiarity of online bookings across the country along with the easy booking process and time saving benefits of online bookings.

3.The household distribution of vehicle ownership (car/ jeep/ van) is less than 10%.

The household distribution of vehicle ownership (car/ jeep/ van) is less than 10% due to high vehicle ownership costs, maintenance costs and increasing traffic and congestion in urban areas. This provides the car rental industry with a bright future and big potential market to capture.