Soham Shah, CEO of Selfdrive.ae
As we move into 2023, the car rental industry is expected to change in several ways. We have seen a few of these changes in the last year or two, but more are on the horizon. Some of these changes will be driven by technological advances, while others will result from changing consumer preferences. But all of them will impact how we rent cars and the companies that provide this service. Here are some car rental industry trends expected to shape the landscape in 2023 and beyond.
Electric vehicles (EVs)
Electric vehicles are becoming increasingly popular, as they offer many benefits over traditional petrol or diesel cars. EVs are much cheaper to operate and maintain and produce zero emissions. This means they are kinder to the environment and can help improve air quality in cities.
Several EV models are now available on the market, from small city cars to larger family vehicles. And as technology develops, EVs will only become more popular. Many car rental companies are already starting to add EVs to their fleets, so this will likely be
a major trend in the industry over the next few years.
In recent years, subscription services have become increasingly popular, and the car rental industry is no exception. Subscription-based car rental services are one of the fastest-growing trends in the industry.
There are a few reasons for this growth. First, subscription services offer a more convenient and flexible way to rent cars. Rather than going to a rental office or standing in line at a kiosk, customers can sign up for a service and choose from a wide selection of vehicles delivered right to their doorstep.
Second, subscription services offer a much cheaper way to rent cars. Rather than paying for each rental separately, customers can pay one low monthly fee that covers all their rentals. This can be a great option for those who need to rent cars frequently.
Third, subscription services offer a more personalised experience. Because customers can choose their own vehicles and customise their rentals, they feel like they’re getting a more tailored service. This particularly appeals to younger renters who are used to getting customised experiences.
Fourth, subscription-based car rental companies can often offer better deals on insurance and other add-ons because they bulk purchase these products. This means that customers can get coverage at a lower cost than if they were to purchase it separately.
Finally, many subscription-based car rental companies offer loyalty programs that give customers discounts and other perks for using their service regularly. This makes it even more affordable.