Steady Rise in Operational Car Rental Continues

Steady Rise in Operational Car Rental Continues
Steady Rise in Operational Car Rental Continues

The umbrella organization of the car rental industry, All Car Rental Organizations Association (TOKKDER), has announced the 'TOKKDER Operational Rental Sector Report', which includes the first half results of 2022, prepared in cooperation with the independent research company NielsenIQ. According to the report, the operational car rental industry invested 13,9 billion TL in new vehicles in the first half of the year, adding 30 vehicles to its fleet. As of the first half of the year, the asset size of the sector amounted to 700 billion 65 million TL. In this period, the total number of vehicles in the sector increased by 400 percent compared to the end of 2021 and reached 1,4 thousand 241 units.

According to the report, Renault continued to be the most preferred brand in the operational car rental sector in Turkey with a share of 23 percent. Fiat followed Renault with 14,5 percent, Volkswagen with 10,6 percent and Ford with 10,4 percent. In this period, 51,3 percent of the sector's vehicle park consisted of compact class vehicles, while small class vehicles had a share of 26,2 percent and upper-middle class vehicles had a share of 13,3 percent. The share of light commercial vehicles, which was 2018 percent in the fleet of the operational vehicle leasing sector at the end of 2,9, increased to 2022 percent in the first half of 5,8. On the other hand, it was noteworthy that the share of hybrid and electric vehicles in the sector's vehicle park continued to increase rapidly. Accordingly, while the majority of the sector's vehicle park continues to be composed of diesel fueled vehicles with 64,4 percent, the share of gasoline vehicles increased to 28 percent, and the share of hybrid and electric vehicles to 7,6 percent.

According to the TOKKDER report, at the end of the first six months of the year, the sedan continued to be the first in vehicle ratios by body type in the operational leasing sector. In this context, vehicles with sedan body type took the first place with 64,6 percent, while vehicles with hatchback body type came in second place with 19,2 percent. SUV type vehicles took the third place with 7,8 percent. These vehicles were followed by vehicles with station wagon body type with 1,6 percent. According to the report, while 71,4% of the vehicles in the sector's total vehicle park were vehicles with automatic transmission, the share of vehicles with manual transmission was 28,6%.

The operational leasing sector continued to provide significant tax inputs to the economy in the first six months of the year. According to TOKKDER's report, the total amount of tax paid by the industry in the first half of 2022 amounted to TL 8,1 billion.

Evaluating the results for the first 6 months of the year, TOKKDER Chairman of the Board İnan Ekici said, “According to the European Automotive Market Assessment prepared by the Automotive Distributors Association (ODD) based on ACEA data, the automotive market is 26 according to the sum of EU (2022), UK and EFTA countries. In the January-June period, compared to the same period of the previous year, the automobile market decreased by 14,8 percent and the light commercial vehicle market decreased by 13,7 percent. In our country, the automotive market follows a slightly more positive course than in Europe. Again, according to ODD data, in the January-June 24 period, the Turkish automobile and light commercial vehicle total market contracted by 2022%, the automobile market by 9,3%, and the light commercial vehicle market by 10,3%, compared to the same period of the previous year. It is difficult to predict how long this contraction in the automotive market will continue… Since there is a problem in the supply of new cars in this period, the car rental sector cannot reach the desired vehicle fleet size despite its growth potential. Despite this, as the industry, we produce solutions in order not to leave our customers without a vehicle, when appropriate, we extend the term of our customers' car rental contracts or rent second-hand vehicles. Due to the increasing vehicle costs, our customers are also changing their vehicle policies in this period and turning to more economical vehicles with lower equipment levels. Despite going through a difficult period economically, renting a car is always more advantageous than buying. We provide the vehicles with more affordable costs, and we reflect the cost advantage to our customers by managing many factors such as damage management, maintenance and winter tires.”

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