Vehicle rentals will increase by 5.2% in Spain this year

The rent-a-car sector expects to consolidate this year the recovery started in 2013. Forecasts for 2014 show an estimated increase of 5.2%, with a turnover of around 1.5 billion euros, according to the Federación Nacional Empresarial de Alquiler de Vehículos (Feneval).

 

 

The increase will be somewhat lower than in 2013, when the variation over the previous year was 6.2%, with revenues of 1,425 million but reflects a clear progression.

The improvement in tourism demand in Spain, which is benefiting the car rental sector, is also dragging down car sales, one of the key sectors of the Spanish industry. The 16.2% increase in registrations of vehicles recorded up to April this year, 75% of them urged by rental companies, confirms the rise in sales already recorded in 2013, when they registered 4.1% more.

Feneval claims that vehicles coming from rentals less than 1 year old can benefit from the PIVE plans to renew the vehicle fleet and promote sustainability. Likewise, this association calls for the regularization of the sector, but avoiding taxes that burden its development and limit unfair competition.