The Future of Mobility Appears to Be Shifting Towards Rental Solutions

In the first half of the year, the vehicle rental sector has witnessed a remarkable surge, with a staggering 47% increase in registrations, pushing the total number of vehicles in circulation to an extraordinary 1.3 million units. This sector, which plays a pivotal role in promoting low or zero-emission vehicles and stands as a champion of the new sustainable mobility, now represents 34% of new electric vehicles and an astonishing 63% of plug-in hybrid vehicles (PHEVs). These figures emerge from a semi-annual analysis of ‘pay-per-use’ mobility conducted by Aniasa, the association representing the mobility services sector within Confindustria.

During the first six months of 2023, the vehicle rental sector registered a substantial total of 308,950 vehicles, equivalent to 33% of all new vehicles registered on Italian roads. This means that one out of every three new vehicles is a rental, reflecting a 47% growth compared to the corresponding period of the previous year. This surge has been strongly oriented towards sustainable mobility, with 34% of electric vehicles and an impressive 63% of plug-in hybrid vehicles now being registered in the country for rental purposes.

The sector has witnessed growth both in new registrations and in the overall size of the vehicle rental fleet circulating in Italy, reaching a record-breaking 1.3 million units. Out of these, 1,197,000 are long-term rentals by companies, public administrations, and individuals with VAT numbers or tax codes, while 135,000 are short-term rentals for tourist or business purposes.

Among the customer segments showing an increase compared to the previous year, the growth of private individuals, both with and without VAT numbers, stands out. They have chosen to rent a car for 1 or more years instead of purchasing one. These now represent 163,000 units, accounting for 14% of the total vehicle fleet. Companies continue to be the main customers of rental services, holding 76% of the rental vehicles in circulation, while the remaining 10% is in the hands of public administrations.

Over the first six months of the year, short-term rentals have shown significant growth, further confirmed by the new price reductions for rentals, which have decreased by 9.4% compared to the previous year. Other positive indicators include an increase in turnover (+21% compared to 2019), an increase in rental days (+4%), fleet expansion (+1%), and an extension of rental durations (+26%).

In 2023, rental remains a highly appreciated solution in the market, with this being one of the best times to explore the rental route at lower prices compared to the past.

At Edilfar Rent, we have never doubted the practicality of rental, and for almost 30 years, we have made rental our strong point. Come and explore our offers and drive the best vehicles from top automakers! You can find us in Rome, Milan, and Modena.