Ryder System - Competitors

Ryder System Competition

Now Viewing Ryder System's competition in: Automobile Rental and Leasing

Recent Developments

Car Rental Tax Proposals Defeated - Proposed car rental taxes were defeated in the Colorado and Florida state legislatures in May 2008. The Colorado proposal would have imposed a $6 per day fee on all car rental customers. The Florida proposal would have increased fees by $2 per day on car rentals at international airports in much of the state.

Businesses Seek to Cut Travel Costs - Businesses trying to cut travel costs are setting up internal departments to manage travel, according to the National Business Travel Association (NBTA). Centralized systems in which travel professionals track and book flights and negotiate better discounts based on volume are helping companies manage travel costs. Revenue for auto rental and leasing companies may decline if business clients focus on negotiating better discounts for their employees.

Car, Truck Rental Rates Increased in 2007 - US consumers paid 3 percent more to rent cars and trucks in 2007 than in 2006. Car and truck rental rates declined from 2003 through 2005 but have risen every year since. Many experts say that rising vehicle acquisition costs caused by reduced fleet sales will continue driving auto and truck rental rates higher.

Competitive Landscape

The industry depends highly on the general state of the US economy because most customers are business or vacation/leisure travelers, whose numbers can rapidly fall during an economic slowdown.

Full Industry Overview For Automobile Rental and Leasing

Automobile Rental and Leasing Industry Forecast

from Hoover's/D&B subsidiary First Research

The output of US automotive equipment rental and leasing services is forecast to grow at an annual compounded rate of 5 percent between 2007 and 2012.

Automotive Rental and Leasing Services Growth Steadies

First Research forecasts are based on INFORUM forecasts that are licensed from the Interindustry Economic Research Fund, Inc. (IERF) in College Park, MD. INFORUM's "interindustry-macro" approach to modeling the economy captures the links between industries and the aggregate economy.