MEXICO CAR RENTAL MARKET ANALYSIS

Market News

Mexico Car Rental Market - Recent Developments

1. On January 2021, Europcar Group S.A.- a provider of integrated mobility services has a strategic plan to replace its existing fillets with newer ones, and the company is also focusing on training and development programs in order to enhance the skills of their full-time and part-time employees. Europcar Group S.A offers an extensive variety of vehicle rental or renting administrations including, vehicle rentals on a transient premise, minimal expense rental administrations, vehicle sharing, and booking administrations through its armada of vehicles, vans, and trucks. During this process, the company has replaced a large number of vehicles model of 2020 with newer ones in 2021, and they have distributed them across various locations across Mexico. This move helped them to attract and retain distinguished customer and offer them a better customer experience. The overall quality of cars has also improved thereby showcasing a positive brand image and reputation of the company. The skill development programs shall also result in an overall better Service Quality Delivery.
2. On May 19, 2021, Mex Rent A car strengthened its partnership with TSD to grow corporate and affiliate business. Mex Rent a car is worked by Turismo Gargo SA de CV, a 100 percent Mexican Organization established in 1994. Mex Rent a Car provides its customers with a comprehensive location network, strategically situated in Mexico's major cities, airports, tourist destinations, and urban areas, among other nations. TSD designs and develops fleet mobility solutions for dealerships, auto manufacturers, public auto groups, and rental companies worldwide. Mex Rent A car was created in September 2013 by Turismo Gargo Group in Mexico, which has more than 25 years of experience in the car rental industry. Together both the companies can work collaboratively to offer the customers better mobility solutions focusing on enhancing the user experience and overall service levels.
3. On May 13, 2022 Fox Rent A Car announced that it had opened its first U.S. dual-branded location at Houston Hobby Airport in Texas. Fox Rent A Car, a member of the global mobility solutions provider Europcar Mobility Group, sets the standard for low-cost leisure car rentals in the United States and around the world. There are currently 21 Fox corporate locations in the United States, including Orlando, Las Vegas, Miami, and Los Angeles, which are the largest rental car markets in the world. Moreover, Fox Rent A Vehicle keeps an offshoot relationship with freely possessed areas in Canada, Mexico, Caribbean, South America, Focal America, Australia, Europe and the Center East. Fox is a well-positioned discount brand that caters to budget-conscious airport travelers. All of the brands in the Europcar Mobility Group are moving in the same direction and are prepared to face significant obstacles right away. The dual-branded location will be the first official Europcar corporate location in the U.S., and the twenty-second Europcar corporate location in the U.S. for Fox Rent A Car. The new dual-brand location joins an expanding Texas market that already includes San Antonio and Austin with a planned corporate fleet of several hundred cars. The expansion shall help the company cater to a larger audience and also cover a greater market share across the country.
4. On June 25, 2022 Hertz sponsors new Porsche racecar to compete in 2023 FIA World Endurance Championship. The Hertz, Dollar, and Thrifty car rental brands are operated by the Hertz Corporation, a subsidiary of Hertz Global Holdings, Inc., in North America, Europe, the Caribbean, Latin America, Africa, the Middle East, Asia, Australia, and New Zealand. The Hertz brand is well-known all over the world, and the Hertz Corporation is one of the biggest car rental companies in the world. Hertz announced it is sponsoring a new Porsche racecar to compete in the 2023 FIA World Endurance Championship (WEC), which includes the legendary 24 Hours of Le Mans race. Hertz will serve as title sponsor for a new Porsche 963 LMDh racecar from 2023 to 2025.