Car rental sector acquired 19,800 vehicles in the third quarter of the year

Data from the operational rental sector indicated that retail purchases were a slightly stronger segment in the automotive market.

According to data prepared in cooperation with the All Car Rental Organizations Association (TOKKDER), the umbrella organization of the car rental sector, and the independent research company NielsenIQ, the sector added 19,800 vehicles to its fleet in the third quarter of 2023. According to data from the Automotive Distributors and Mobility Association, total automotive sales in the same period were recorded at 300,206 units. When these two figures are compared, it was observed that 7 out of every 100 vehicles sold in the third quarter of the year went to the rental sector.

In the last quarter of 2022, this rate had risen to 9 percent. Looking at the periods after 2020, the year of the pandemic, it was seen that this rate remained at these levels on average. However, there was a decline in this rate in 2023, albeit a moderate one.

51,600 VEHICLES IN THE FIRST 9 MONTHS OF THE YEAR

According to the “TOKKDER Operational Rental Sector Report,” the operational car rental sector made a new vehicle investment of 52 billion 400 million TL in the first nine months of the year, adding 51,600 vehicles to its fleet.

As of the end of the third quarter of the year, the sector's total assets reached 136 billion 650 million TL. During this period, the total number of vehicles in the sector increased by 2.8 percent compared to the end of 2022, reaching 252 thousand.

THE RISE OF HYBRID AND ELECTRIC VEHICLES CONTINUED

According to the report, Renault continued to be the most preferred brand in Turkey's operational car rental sector with a 17.5 percent share.

Renault was followed by Fiat with 16.5 percent, Toyota with 10.8 percent, Volkswagen with 10.7 percent, and Ford with 10.0 percent. During this period, 47.8 percent of the sector's vehicle fleet consisted of compact class vehicles, while small class vehicles held a 28.6 percent share and upper-middle class vehicles held a 12.2 percent share.

The share of light commercial vehicles in the operational car rental sector's fleet, which was 2.9 percent at the end of 2018, rose to 7.0 percent by the end of the third quarter of 2023. On the other hand, it was also noted that the share of hybrid and electric vehicles in the sector's vehicle fleet continued to increase.

Accordingly, while diesel-powered vehicles continued to make up 44.2 percent of the sector's vehicle fleet, the share of gasoline-powered vehicles rose to 46.2 percent, and the share of hybrid and electric vehicles rose to 9.4 percent.

News Source: 12punto