Internet plays a vital role in the reservation of rented cars in Spain. The increasing penetration of the internet and broadband services in Spain has revolutionized the pattern of renting cars in the country over the years. The population of internet users at the end of 2012 was approximated over ~ million in the country, which represented ~% of the overall population. The online car renting has showcased a tremendous growth in terms of contribution in value terms over the last five years (2006-2012) and is expected to further incline in the coming years. This will directly impact the revenues generated from the station reservation methods for car rentals in the country.
The marketers have increasingly implemented innovative strategies such as the introduction of electric vehicles, and others. In the process of opaque rentals, the car rental agencies provide online customers an opportunity to bid the price they wish to pay for the specific travel related product without prior knowledge of the brand. The brand is disclosed only after the customer makes an online payment. This has enabled the car rental operators to increase their popularity, market share and utilization rate.
The better concept of online booking of rental cars has given the travelers a platform to plan and book their cars in much quicker and easier way by accessing internet. In addition, travelers have the advantage to evaluate the alternatives before booking the rental car online. Thus, feasibility and lower time consumption will make online booking as a preferable option among the people to rent cars in the future. The market expected to achieve revenue of USD ~ million in 2017 growing at a remarkable average annual growth rate of 15.01% over the period of 2012-2017. In Spain, car rentals for a shorter duration will drive the market from 2013-2017. Due to the inclining corporate travel and the shortage of time in busier lifestyles, the market for short term car rentals is expected to achieve revenue of USD 1,183.65 million by 2017.
According to research report, “Spain Car Rental Industry Analysis to 2017: Driven by Short term Online Car Rental Bookings”, Spain car rental market is estimated to grow at a CAGR of 2.64% over the period of 2012-2017, on account of significant growth in off-airport market, escalation in the demand for short term car rentals majorly for business purposes by Spanish people which will bolster the market in future.
The report provides detailed overview on Spain car rental industry and helps readers to identify the ongoing trends in the industry and anticipated growth in future depending upon changing industry dynamics in coming years. The report will help industry consultants, car rental companies to align their market centric strategies according to ongoing and expected trends in the future.