The car rental industry has witnessed exponential growth in recent years, driven by increased travel, both for leisure and business, as well as the popularity of car-sharing services. Leading global companies have expanded their fleet sizes, adopted new technologies, and refined customer experiences to meet demand.
Based on key metrics such as market cap, earnings, revenue, and workforce size, let’s dive into the biggest car rental companies worldwide and explore what sets them apart.
Which are the Largest Car Rental Companies in the World?
1. Localiza (Brazil)
- Market Cap: €7.24 billion
- Earnings: €0.30 billion
- Revenue: €6.43 billion
- Employees: 21,113
Localiza, based in Brazil, is the largest car rental company in Latin America. With a substantial market cap of €7.24 billion, it leads in the region due to its strong presence across Brazil and other South American countries. Localiza’s large workforce, extensive fleet, and high revenue make it a powerhouse in the industry.
Localiza has tapped into the high demand for rental cars in Brazil, combining advanced fleet management with competitive pricing. Its regional dominance has made it one of the top car rental companies globally.
2. Inchcape (UK)
- Market Cap: €3.72 billion
- Earnings: €0.45 billion
- Revenue: €9.83 billion
- Employees: 21,442
Inchcape, headquartered in the UK, is a prominent name in the automotive sector, not only in car rentals but also in vehicle distribution. With a market cap of €3.72 billion and impressive revenue, Inchcape continues to grow in the European market, leveraging its vast distribution network.
Inchcape’s diverse revenue streams from both distribution and rentals give it a competitive edge in the UK and international markets. Their focus on luxury rentals and customer service excellence has made them a key player.
3. Sixt (Germany)
- Market Cap: €3.21 billion
- Earnings: €0.51 billion
- Revenue: €4.08 billion
- Employees: 8,735
Sixt, based in Germany, is known for its premium fleet and innovative rental solutions across Europe and the US. With a market cap of €3.21 billion and a focus on luxury and business rentals, Sixt is a popular choice among high-end customers.
Sixt’s brand appeal and premium fleet cater to discerning travelers. Its stronghold in Europe and expanding presence in the US market highlight its ambition to be a global leader in premium car rentals.
4. Avis Budget Group (USA)
- Market Cap: €2.71 billion
- Earnings: €0.80 billion
- Revenue: €12.05 billion
- Employees: 18,000
Avis Budget Group is a giant in the global rental industry, managing well-known brands like Avis, Budget, and Zipcar. With €12.05 billion in revenue, Avis has a large footprint in North America, Europe, and various international markets.
The company’s extensive global reach and portfolio of brands enable it to cater to a wide range of customers, from budget travelers to business professionals. Avis’ focus on expanding its fleet of electric vehicles (EVs) further solidifies its forward-looking strategy.
5. Budget Saudi (Saudi Arabia)
- Market Cap: €1.63 billion
- Earnings: €76.17 million
- Revenue: €0.42 billion
- Employees: Data not available
Budget Saudi is a major player in the Middle East, offering affordable rentals across Saudi Arabia. With strong market growth in the region, Budget Saudi has carved a niche for itself among budget-conscious travelers.
Its success is attributed to strategic partnerships and excellent customer service in the Middle East. Budget Saudi’s focus on affordability and reliability has made it a favorite for locals and tourists alike.
6. Hertz (USA)
- Market Cap: €0.87 billion
- Earnings: -€92 million (loss)
- Revenue: €9.32 billion
- Employees: 27,000
Hertz, a well-known American brand, is one of the largest car rental companies globally, with a major presence in the US, Europe, and parts of Asia. Despite recent financial challenges, Hertz generates significant revenue and employs a large workforce.
Hertz’s reputation for convenience and quality service has helped it remain resilient. The company is also working on revamping its fleet and adopting EVs to stay relevant in the competitive market.
7. Theeb Rent a Car Company (Saudi Arabia)
- Market Cap: €0.80 billion
- Earnings: €43.63 million
- Revenue: €0.36 billion
- Employees: Data not available
Theeb Rent a Car Company, based in Saudi Arabia, has established itself as a reliable rental service provider across the Middle East. Known for affordable options and reliable customer service, Theeb has earned a loyal customer base.
Theeb’s competitive pricing and focus on local preferences have allowed it to grow rapidly. It’s an ideal choice for budget-conscious customers looking for quality service in the Middle East.
9. Autohellas (Greece)
- Market Cap: €0.52 billion
- Earnings: €66.63 million
- Revenue: €0.66 billion
- Employees: 1,918
Autohellas, a Greece-based car rental company, has a solid presence in Europe. With revenue of €0.66 billion, it caters primarily to European travelers, especially during the tourist-heavy summer months.
Autohellas has carved a niche by focusing on Greece and nearby European markets, providing reliable vehicles and exceptional customer service for both tourists and locals.
10. Lumi Rental Company (Saudi Arabia)
- Market Cap: €1.02 billion
- Earnings: €41.54 million
- Revenue: €0.36 billion
- Employees: 1,034
Lumi Rental, also based in Saudi Arabia, serves the Middle Eastern market with a focus on affordable car rentals. Despite its smaller scale, Lumi has shown impressive growth, particularly with local customers and business travelers.
Lumi’s focus on affordability and local market needs has allowed it to compete effectively with larger brands. Its market growth reflects the strong demand for budget-friendly rentals in Saudi Arabia.
What Makes These Companies Lead the Industry?
The car rental industry continues to be a dynamic and competitive field, with global players like Localiza, Hertz, Avis, and Sixt leading the way. From established giants to innovative newcomers, each of these companies has leveraged its strengths, be it through market dominance, innovation, or strategic local focus, to capture a share of the global market.
The car rental landscape is shifting as companies adopt digital-first approaches and expand EV fleets, paving the way for a sustainable future. For travelers and investors alike, the industry’s evolving landscape offers a mix of convenience, choice, and forward-thinking solutions.
