“Increase in Tourism and Positioning of Costa Rica as a MICE destination has been driving the growth of the Car Rental Market in Costa Rica.”
The report Titled “Costa Rica Car Rental, Leasing, Cab Aggregator and Red Taxi Market Outlook to 2023 –Driven by Inbound and Domestic Tourist Arrivals and Integration of Electric Vehicles in Current Fleet” by Ken Research suggested that the car the rental market in Costa Rica has been growing due to increasing competition amongst the major domestic players. Both the car rental and car leasing market is expected to register a positive CAGR of 3.9% each in terms of revenue during the forecast period 2018-2023E.
Increase in the Number of Flights: Southwest Airlines has expanded its flights to Costa Rica. In 2016, the airlines initiated a direct flight from Los Angeles International Airport (LAX) to Liberia International Airport in Guanacaste (LIR), the door to the eco-tourism sector of Costa Rica. The influx of a higher number of people has positively contributed to car rental business owing to increased demand for rental cars for business trips, travel purpose and on/off airport travel.
Increase in Competition amongst Domestic Players: The players in the market have been competing against each other by giving better promotional offers, loyalty and reward points, higher discounts and other additional benefits in order to reach and acquire more customers. The intense competition between the players had a positive impact on the Car Rental market in Costa Rica.
Corporate Leasing: Market has witnessed increased demand for leased vehicles by corporate entities, as leasing provides many benefits including low monthly payments, tax benefits, the prestige of having new cars after every few years and no maintenance fees. Corporate Entities are also able to ensure employee satisfaction by giving them these cars as perquisites.
Challenging Driving Conditions: The market is hampered by the condition of roads in the country. The roads of Costa Rica are curvy and windy, making driving difficult, especially, for overseas travelers. People struggle to locate their destinations due to the lack of availability of proper sign boards. Also, people face the issue of long traffic – jams on the road.
Key Segments Covered:-
Car Rental Market
Type of Car
SUV/AUV
Economy
Premium
Purpose of Hire
Leisure
Business
Insurance Replacement
Region
San Jose
Heredia
Liberia
Puerto Limon
Others
Cab Aggregator Market
Region
San Jose
Heredia
Liberia
Puerto Limon
Others
Car Leasing Market
Type of Car
SUV/AUV
Economy
Duration of Lease
First Year
Second Year
Third Year and More
Red Taxi - Fleet Size, Number of Drivers
Motorcycle Rental – Fleet Size and Major Players
Key Target Audience
Car Rental Companies
Cab Aggregator Companies
Car Leasing Companies
Automobile Companies
Tourism Companies
Corporate Sector
Hospitality Sector
Time Period Captured in the Report:-
Historical Period: 2013-2018
Forecast Period: 2018-2023E
Companies Covered:-
Adobe Rent a Car
National Car Rental
Enterprise Car Rental
Alamo Car Rental
Budget Car Rental/Centriz
Dollar Rent a Car
Thrifty Car Rental
Vamos Rent a Car
Toyota Car Rental
Solid Car Rental
Europcar Rental
Hertz Rent a Car
Economy Rent a Car
Sixt Rent a Car
Poas Car Rental
Avanti Car Rental
Mapache Rent a Car
Avis Car Rental
T.T Tricolor Car Rental
Wild Rider
Fast Rent a Car
Keywords:-
Costa Rica Car Leasing Market
Premium Car Rental Market Costa Rica
SUV/AUV Car Rental Market Costa Rica
Economy Car Rental Market Costa Rica
Car Rental Companies Costa Rica
Cab Aggregator Companies Costa Rica
Car Rentals in Costa Rica
Costa Rica Red Taxi Market
Costa Rica Motorcycle Rental Market
Major Companies in Costa Rica Car Rental
Costa Rica Car Rental Competition Scenario
Uber Company Profile Costa Rica
Adobe Company Profile Costa Rica
Costa Rica Cab Aggregator Market
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