Car Rental Majors Cut Fleet Sizes to Survive

Car rental companies make up to 60% of their revenues from airport rentals, but Covid-19 has hit air travel hard. To weather the impact of Covid-19, majors like Hertz, Europcar and Avis Budget Group have pursued dramatic fleet cuts to reduce their costs. BloombergNEF expects car rental companies to keep their fleets lean until the pandemic is contained. After that, their next challenge will be to adapt to CASE trends – i.e., vehicle connectivity, automation, sharing and electrification.

See the full research report here