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24 Nov 2017

Industry

Car Rentals, 2018: Growing 6-8%, Driven by Logistics Service and Tourism (Current Issue No. 2882)

We at KReseach expect that turnover within the car rental market here will probably reach THB42.5 billion in 2017, increasing 9 percent YoY. Of that total, 69 percent would likely be in long-term car rentals by various organizations as major customers, and the rest, 31 percent, in short-term car rentals by tourists as the main clients. During 2018, we project that the overall turnover in car rental business here will total perhaps THB45-45.9 billion, rising 6-8 percent YoY.

KResearch is of the view that growth in logistics service business as a result of growing online transactions, plus thriving tourism amid many low-cost airline flights to new destinations as well as independent travel, have helped boost car rental business here in recent years. This outlook should continue into 2018, as well.

Industry