Rentals expect a better economic environment to grow in 2023

By George Guimarães | 3/23/23 | Translated by Jorge Meditsch

The vehicle rental segment counts on interest fall and more favorable manufacturers’ commercial policies to buy more in 2023. This Thursday, 3/23, Abla, the Brazilian automobile rentals association, said that, under the current economic and market situation, it projects that only about 450 thousand units should be purchased this year by its members, a 24% fall compared to 2022’s 590.5 thousand registers.

“If the economy is much more favorable, with interest and inflation reduction, the sector can absorb up to 650 thousand vehicles in 2023”, says Marco Aurélio Nazaré, Abla’s board president.

Nonetheless, he sees some immediate improvement is possible in the negotiations with passenger cars manufacturers, which are so pressed by the retail market stagnation that some reduced or halted production in the last few days.

GROWING EARNINGS AND FLEETS

Last year, the rental companies purchased 33.6% more automobiles and light commercial vehicles than the 441.8 thousand bought in 2021. To do so, they spent R$ 55.3 billion, an average of R$ 93.7 thousand per vehicle. Rental purchases represented 30.1% of automobile and light commercial vehicles’ total sales in the internal market, a historical mark.

Nevertheless, this expansion resulted in the growth of the rentals total fleet in 2022, which reached 1.43 million vehicles, 26.2% more than in the previous year, with a still discreet participation of just 5.7 thousand electric vehicles.

In parallel, the sector’s earnings also grew in an even higher proportion. Gross income climbed to R$ 36.8 billion, 56.6% more than the R$ 23.5 thousand in 2021. Taxes paid over rental followed it, reaching R$ 4.7 billion, 57% higher, while taxes related to vehicle purchases went from R$ 10.9 billion to R$ 17.8 billion.

According to Abla, the number of rental companies almost doubled from the previous year. It went from 13,9 thousand in 2021 to 22.9 thousand last year, 17.7 thousand of them specialized in automobiles.

STELLANTIS IS THE SECTOR’S LARGEST SUPPLIER

Among the reasons were the rentals with drivers, which expanded from 2.6 thousand to 4.4 thousand companies, and the inclusion of others specialized in other kinds of vehicles, such as motorcycles, buses, trailers, trucks or similar, now with 5.2 thousand representatives. The sector employs a total of 89.5 thousand people.

Stellantis was the manufacturer that sold the most for the segment in 2022. Considering its five brands, it delivered 211 thousand automobiles and light commercials, 35.8% of the total. Trailing it was Volkswagen, with 98 thousand units (16.6%) and General Motors, with 72.6 thousand vehicles (12.3%).

The bestselling model for rental in 2022 will not be in the ranking this year: the Volkswagen Gol, which was discontinued, had 45,796 units licensed.

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George Guimarães

Jornalista com passagens por jornais, revistas, tevê e assessoria de imprensa, é especializado na cobertura do setor automotivo há trinta anos, período em que já viu (quase) de tudo da indústria, seus produtos, mercado, cadeia produtiva, tecnologias e políticas industriais.

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