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American Express Global Business Travel (Amex GBT) has published Ground Monitor 2024-2025, its annual forecast of car rental rates in the world’s key business destinations. The report describes how the global car rental sector appears to be stabilizing after more than three years of volatility; as a result, car price rises should moderate in the coming 12 months across most locations. With automotive supply chains recovering, the costs of buying and operating cars should also moderate.
Alongside price forecasts for 12 countries, Ground Monitor 2024-2025 examines the factors driving car prices and shaping corporate car programs. Sustainability is a key theme; the report looks at how company fleets are embracing electric vehicles (EVs), as well as shifting towards smaller, lighter car models to support emissions reduction. The ground team at Amex GBT Consulting offers advice to help companies encourage EV adoption.
The report also highlights the potential of artificial intelligence (AI) to help transform fleet management and includes best practices for effective car sourcing.
Gerardo Tejado, Senior Vice President Professional Services, Amex GBT, said, “Ground transportation plays a crucial role in enabling businesses of all sizes, across many sectors, to operate efficiently – and is a key factor in the journey experience for travelers. With the data-driven analysis in this report, plus insights into the trends and sourcing strategies from Amex GBT Consulting, Ground Monitor provides valuable guidance to help corporate customers build their best ground programs.”
GLOBAL CAR RENTAL RATE FORECASTS
In the US, Ground Monitor 2024-25 predicts a 2.5% increase in car rental rates to March 2025. In Canada, a 3.4% rise is forecast, while in Latin America, price rise forecasts range from 1% in Brazil to 10% Chile.
Europe car rental rates are also forecast to rise in many key business destinations, including 5% in Germany and 6% in the UK. France rates are predicted to range between 3-4% for smaller vehicles and rates to a drop as much as 15% for large and premium categories due to falling demand for these cars. Paris has made headlines with car-unfriendly policies such as triple parking fees for SUVs and a planned ban on ICE (internal combustion engine) vehicles by 2030.
Benelux, the Nordics and South Africa are forecast to expect stable prices, while Australia can expect an average 4% increase but with notable variations between metropolitan areas and geographically isolated regions.
Higher demand car categories and some city locations will likely see slightly higher price rises.
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