Car Rental in Venezuela - New Market Study Published

From: Fast Market Research, Inc.
Published: Fri Oct 09 2015

Car rental in Venezuela faced exceptional constraints regarding the availability of new cars in 2014, as a result of the monopoly on foreign exchange managed by the government. The seven car-assembly companies continued to be unable to access the foreign exchange needed to purchase parts that would be assembled in Venezuela. By March 2014, three companies – Toyota, Iveco and Chrysler – had closed down in the country after running out of stocks of parts. By May 2014, Ford Motors and General Motors had shut down production for the same reason.

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Industry Prospects

Car rental is projected to grow at a CAGR of 1% at constant 2014 prices over the forecast period, with a lack of availability of new vehicles not improving until the second half of the period, as it is expected that the industry will adjust to meet unsatisfied demand for cars and car parts. As of February 2015, production of vehicles had increased by 14% compared with in 2014, while year-to-date sales had increased by 30%, reaching levels supported by imports. The adverse environment is expected to force the shutdown of approximately 10% of car rental outlets during the first half of the forecast period.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Car Rental industry in Venezuela 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 Venezuela, our research will save you time and money while empowering you to make informed, profitable decisions.

The Car Rental in Venezuela 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 Venezuela?
* What are the major brands in Venezuela?
* 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

* Gain competitive intelligence about market leaders
* Track key industry trends, opportunities and threats
* Inform your marketing, brand, strategy and market development, sales and supply functions

About Fast Market Research

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