The number of car rental agencies and car companies has increased by nearly 100% in just six years.
The growth in rental car companies is due to the fact that the car industry in Ireland is growing rapidly.
According to the latest figures, there are now nearly 2.7 million rental car businesses in Ireland, up from 1.8 million in 2015.
“The number of rental car providers is now almost doubled compared to the number of companies in 2015,” said Peter Walsh, head of business at the Car Rental Agency Association of Ireland (CARAI).
“The industry has become so big that there’s been a real jump in turnover.
The number companies is growing by almost 100% per year,” he added.
According to CARAI, there were over 2,500 car rental companies in Ireland last year.
There are now over 1,400 car rental services in the country.
This has meant that rental car industry is booming.
According in 2016, there was an estimated turnover of €2.8 billion in Ireland.
This includes leasing and rental companies, car rental brokers, and car rental operators.
The rise in business has been attributed to the growing number of people using the internet to find a car to rent.
According a 2017 study by Carriageworks, Irish households spend an average of €40 per year on car insurance and €40 on fuel, while car rental businesses have an average turnover of around €60 per year.
According the research, people are also looking for alternative means of transportation such as taxis and public transport.