If you want a rental car this summer, you're already late: the Rent a Car "crisis"

Few days ago, FENEVAL (the National Business Federation of Vehicle Rental), communicated that The Rent a Car sector is going through a difficult time. Nearly 200.000 more rental cars are needed in Spain, the third most visited country in the world, to meet the demand of travelers. This is especially problematic in places with a high tourist potential during certain seasons of the year and, above all, in a time when people travel as much as they couldn't during the pandemic by COVID-19.

despite some prices shot up due to the shortage of supply and the growth of demandRenting a car in Spain is a difficult task, if not almost impossible in regions such as the Balearic Islands or the Valencian Community and facing the summer season. And it is that, six months before the start of summer, reservations are practically full in the main RAC operators. The reason is none other than the inability on the part of car manufacturers to provide new vehicles to the fleets of different companies who are engaged in this business.

Since 2019, the average rate for renting a car has multiplied by two or three depending on the area. During the last financial year, in 2022, the situation was already bad, but it seems that in 2023 it will be even less encouraging. It is because of that FENEVAL invites Spaniards who wish to do national tourism to book now, in advance, your rental vehicle to enjoy the Easter and summer holidays with certain guarantees.

Based on data from ANFAC (the Spanish Association of Automobile and Truck Manufacturers), the auxiliary Rent a Car industry closed last year with just under 100.000 passenger car registrations, which translates into a 35% drop compared to 2021, which was not a particularly satisfactory period for renters either (although their profits have not stopped increasing since then). This is due to the fact that, given the supply problems in the factories, car brands have prioritized sales to individuals, because it is a much more profitable channel.

The solution proposed by RAC companies in this undesirable context is keep your fleets longer, expanding the leasing contracts they have with the automobile companies that operate in our country. That is to say, by 2023, customers will drive not only more expensive cars, but older ones with higher mileage. Meanwhile, their turnover level breaks all-time records, then they only live a half "crisis".

Source - FENEVAL