Car rental sector reaches 240 thousand vehicles

The operational vehicle rental sector made an investment of 10 billion 400 million TL in the first quarter of 2023, adding 13,500 vehicles to its fleet. While the asset size of the sector reached 114 billion 900 million TL, the total number of vehicles reached 240 thousand. The umbrella organization of the vehicle rental sector, All Car Rental Organizations Association (TOKKDER), announced the “TOKKDER Operational Rental Sector Report” including the first quarter results of 2023, prepared in cooperation with the independent research company NielsenIQ. According to the report, the operational vehicle rental sector made an investment of 10 billion 400 million TL in the first quarter of 2023, adding 13,500 vehicles to its fleet. While the asset size of the sector reached 114 billion 900 million TL, the total number of vehicles reached 240 thousand. During this period, 48.6 percent of the sector's vehicle fleet consisted of compact class vehicles, while small class vehicles had a share of 27.8 percent and upper-middle class vehicles had a share of 12.8 percent. The share of light commercial vehicles, which had a share of 2.9 percent in the operational vehicle rental sector's fleet at the end of 2018, increased to 7 percent by the end of the first quarter of 2023. On the other hand, the continued increase in the share of hybrid and electric vehicles in the sector's vehicle fleet also drew attention. Accordingly, diesel-fueled vehicles continued to constitute the majority of the sector's vehicle fleet at 51.2 percent, while the share of gasoline vehicles increased to 40.2 percent and the share of hybrid and electric vehicles increased to 8.5 percent.