Rent a Car: Business Potential and Evolution

Between July and October 2020, the number of people in Guatemala exploring luxury car rental options online increased 28%, while the number of Panamanian consumers seeking to rent a compact car decreased 53%.

Monday, November 9, 2020

CentralAmericaData's interactive platform, Consumer Insights, monitors in real time the evolution and changes in consumer habits in all markets in the region and in other Latin American countries, with fundamental information to understand their behavior, new trends and anticipate eventual changes in their purchase patterns.

For this analysis, CentralAmericaData collected data on the number of Central American consumers who were looking to rent a vehicle online in July. In October, the same information was collected again and the variations reported for the quarter in question were evaluated.

Details of some of the most outstanding findings:

Between July and October in Costa Rica the number of consumers looking to rent SUVs or minivans fell by 71%. In El Salvador and Honduras, the behavior was similar, with variations of -68% and -73%, respectively.

For the months in question, the number of Guatemalans seeking options to rent a compact car decreased by 9%, in Panama it fell -53% and in El Salvador the number of consumers interested in this type of vehicle decreased by 20%.

Regarding the market for rental services of luxury vehicles, convertibles and special cars, for the months under analysis in Costa Rica a variation of 3% was reported in the number of people seeking to rent this type of unit, in Honduras the percentage change was 219%, in El Salvador 169%, and in Panama -10%.

CentralAmericaData has a complete information system for the analysis of consumer interests in any country in the region, which allows companies to project demand trends and anticipate changes in the various sectors and categories of products and services. This information system allows monthly tracking of preferences and purchase intention of Central Americans by product or category, resulting in a very high value input to make business decisions in the new commercial reality.

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