The Share of Light Commercial Vehicles Increases in Operational Vehicle Rental!

The share of light commercial vehicles in operational vehicle leasing is increasing
The share of light commercial vehicles in operational vehicle leasing is increasing

All Car Rental Organizations Association (TOKKDER) announced the sector data for the first half of the year. Accordingly, the operational car leasing sector invested 8,7 billion TL in new vehicles in the first half of the year, adding 10,8 thousand 33 vehicles to its fleet, covering 400 percent of brand new cars sold in Turkey. As of the first half of the year, the asset size of the sector amounted to TL 46 billion. In this period, the number of active rental vehicles in the sector decreased by approximately 1 percent compared to the first quarter of the year and became 223 thousand 178 units. The total number of vehicles in the sector decreased by 2020 percent compared to the end of 7,1 and decreased to 244 thousand units. On the other hand, the increase in the share of light commercial vehicles in the fleet of the operational car rental sector to 4,6 percent and the share of electric and hybrid vehicles to 5,4 percent were among the other remarkable details in the report.

The umbrella organization of the car rental industry, the Association of All Car Rental Organizations (TOKKDER), has announced the "TOKKDER Operational Rental Sector Report", which includes the results of the first half of 2021, prepared in cooperation with the independent research company NielsenIQ. According to the report, the operational car rental industry invested 8,7 billion TL in new vehicles in the first half of the year, adding 10,8 vehicles to its fleet, which is 33 percent of the new cars sold in Turkey. As of the first half of the year, the asset size of the sector amounted to TL 400 billion. In this period, the number of active rental vehicles in the sector decreased by approximately 46 percent compared to the first quarter of the year and became 1 thousand 223 units. The total number of vehicles in the sector decreased by 178 percent compared to the end of 2020 and decreased to 7,1 thousand units.

The share of light commercial vehicles increased from 2,9 percent to 4,6 percent

According to the report, Renault continued to be the most preferred brand in the operational car rental sector in Turkey with a 23,3 percent share. Fiat followed Renault with 14,5 percent, Volkswagen with 11,0 percent and Ford with 10,9 percent. In this period, 50,9 percent of the sector's vehicle park consisted of compact class vehicles, while small class vehicles had a share of 26 percent and upper-middle class vehicles had a share of 18,5 percent. The share of light commercial vehicles, which was 2018 percent in the fleet of the operational car rental sector at the end of 2,9, increased to 2021 percent in the first half of 4,6. On the other hand, it was also noteworthy that the share of hybrid and electric vehicles in the sector's vehicle park continued to increase rapidly. Accordingly, while the majority of the sector's vehicle park continues to be composed of diesel fueled vehicles with 76,5 percent, the share of gasoline vehicles increased to 18,1 percent. The share of hybrid and electric vehicles increased from 3,6 percent to 5,4 percent.

SUV share in the industry was 6,7 percent

According to the TOKKDER report, at the end of the first six months of 2021, the sedan continued to be the first in vehicle ratios by body type in the operational leasing sector. On the other hand, the steady increase in SUV body type also attracted attention. In this context, vehicles with sedan body type ranked first with 64,3 percent, while vehicles with hatchback body type came in second place with 19,1 percent. SUV vehicles took the third place with 6,7 percent. These vehicles were followed by vehicles with station wagon body type with 1,9 percent. According to the report, while 70 percent of the vehicles in the sector's total vehicle park were vehicles with automatic transmission, the share of vehicles with manual transmission was 30 percent.

Most of the contracts are for 30-42 months.

The operational leasing sector continued to provide significant tax inputs to the economy in the first six months of 2021. According to the report prepared by TOKKDER, the total amount of tax paid by the sector in the first half of 2021 has reached 4,5 billion TL. Looking at the rental periods in the sector, it was seen that in the first half of the year, 48,4% of the operational leases in Turkey consisted of contracts with a duration of 30-42 months. After these contracts, the most preferred operational leasing period was contracts of 21 months or more with 43 percent, while contracts of 18-30 months were preferred by 19 percent. Lease contracts under 18 months covered 11,7% of the contracts.

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