Car rental market surges

Volkswagen Financial Services UK has reported that the rental car market has soared ahead of Christmas.

It saw a 144% rise in Rent-a-Car bookings in November compared to the same period last year, and predicts an even hotter market this month with increased festive demand for larger vehicles for family trips – and van rentals to meet home delivery demands.

Coupled with the semi-conductor shortage limiting the supply of new vehicles to market, many Brits are instead making use of rental vehicles that are either larger or more reliable than their current vehicles.

Volkswagen Financial Services UK’s data insights team suggest that those who don’t own cars are likely to make use of a rental over the festive period to visit friends and family further afield, lockdown restrictions permitting.

Volkswagen Financial Services UK has seen an astronomical growth in online bookings too, up by 220% compared to last year.

Mark Forton, director of Mobility Services at Volkswagen Financial Services UK, said: “This substantial growth in the rental market can be attributed to a number of factors around a shortage of new vehicles, increasing ease to book and for lots of people, a new way of travelling. People who perhaps have no vehicle or run smaller vehicles year-round are hiring larger, more reliable vehicles to fulfil their Christmas plans of visiting friends and family – which will hopefully be very different from last year’s muted festive season.”