1.With increase in internet penetration and digital adoption in the country, car rental services are shifting to online platforms for direct bookings and confirmations.
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With the increase in internet penetration and adoption of smart phones, the market for car rental services has expanded, hence becoming easier for people to access. Ongoing developments in the Philippines car rental market such as integrating Services with Internet of Things, Online Bookings, Unique Business Models, Reliable Personal Identification Process, and Scanned Fingerprints are helping the car rental market to grow. Car rental companies are moving to online platforms for direct bookings and confirmations as internet usage and digital adoption rise throughout the nation. As a result, the procedure is hassle-free and contactless.
2.In the last few years, the mode of booking for car rental services has shifted from offline to online platforms
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In the last few years, the mode of booking for car rental services has shifted to online platforms with 60% bookings being made online. This can be attributed to the increasing internet penetration and familiarity of online bookings across the country along with the easy booking process and time saving benefits of online bookings.
3.The household distribution of vehicle ownership (car/ jeep/ van) is less than 10%.
The household distribution of vehicle ownership (car/ jeep/ van) is less than 10% due to high vehicle ownership costs, maintenance costs and increasing traffic and congestion in urban areas. This provides the car rental industry with a bright future and big potential market to capture.