Car Rental in Ecuador - New Market Study Published

From: Fast Market Research, Inc.
Published: Mon Oct 05 2015

Car rental companies in Ecuador continued to benefit from the Quito government’s traffic restriction plan known as pico y placa. Under this scheme, 20% of vehicles are prohibited from driving through central Quito on weekdays during peak traffic hours depending on the last number of the car’s licence plate. In 2014, traffic was restricted between 07.00hrs and 09.30hrs, and between 16.00hrs and 19.30hrs. Drivers who violate this policy face fines, causing many affluent car owners to rent vehicles on the day that their own car is banned. The practice of renting was so common that there were occasionally shortages of rental cars in Quito at certain times of the day on specific days of the week. The practice of renting a car to evade the pico y placa scheme especially benefited small, independent car rental companies that were able to undercut the prices of international chains. In May 2014, the fine was lowered but the decrease in the fine did not seem to lower interest in car rentals.

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Industry Prospects

Online value sales for rental cars are expected to almost double by the end of the forecast period, reaching US$8 million by 2019. Online sales are expected to constitute 31% of all car rental sales by the end of the forecast period, compared with 25% in 2014. Car rental companies are expected to keep promoting online and the increased accessibility of the online channel as well as Ecuadorians becoming more accustomed to online purchases will contribute to this growth.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Car Rental industry in Ecuador with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Car Rental industry in Ecuador, our research will save you time and money while empowering you to make informed, profitable decisions.

The Car Rental in Ecuador market research report includes:

* Analysis of key supply-side and demand trends
* Detailed segmentation
* Historic volumes and values, company and brand market shares
* Five year forecasts of market trends and market growth
* Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

* What is the market size of Car Rental in Ecuador?
* What are the major brands in Ecuador?
* Is there a shift from airport car rental to non-airport?
* Is leisure car rental outpacing business car rental?
* Is insurance replacement recession-resistant?

Reasons to Get this Report

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