Alternative energies account for 38% of rental registrations

Regarding the results of the total market in Spain, registrations register an increase of 4.35% with 290,823 units registered at the end of the first quarter of 2024, according to data published by the Spanish Vehicle Rental Association (AER).

At the end of March 2024, 7,740 units of the different types of electrified vehicles have been registered for rent (pure electric, extended range, gasoline plug-in hybrid and diesel plug-in hybrid), which represents 9.60% of the total registrations. in renting and an increase of 1.92% in relation to the data at the end of March 2023, when 7,594 electrified units were recorded.

The 28,851 registered electrified units in the total market represent 9.92% of the total. The weight that renting contributes to total electrified registrations is 26.83%.

On the other hand, vehicles powered by alternative energies (electrified, hybrid, gas and hydrogen) account for, at the end of March 2024, 38.38% of total rental registrations, while, in the period of 2023, Its penetration was 35.83%. Renting has a weight in the total registrations of alternative energy vehicles of 24.54%.

For José-Martín Castro Acebes, president of the Spanish Vehicle Rental Association, “we must highlight the boost in the weight of rental registrations over the entire market, reaching almost 28%. These figures are more meritorious, if possible, because we are comparing a year in which, apparently, logistical and other difficulties seem to have been overcome, compared to a 2023 in which its figures were partially marked, not so much by commercial activity. pure, but due to the evolution of manufacturing and delayed deliveries of vehicles by manufacturers, this being the main cause of a month of March in 2023 so intense in rental registrations, and also of the Spanish market itself.

In March, 34,357 cars were registered in the rental sector, compared to the 34,072 that were registered in March 2023, that is, they have increased by 0.84% ​​compared to a total market that has fallen by 3.60%. , with 111,368 registrations in the month.

The 10 brands most registered in renting in the business channel, as of March 2024, have represented 70.31%, compared to the 63.21% they accounted for in the same period of 2023. These firms have increased their registrations by 0.52 % while the company channel in renting falls by 9.63%.

In the aforementioned month, renting accounted for 46.08% of the entire business channel, while in March 2023 it accounted for 47.74%. Renting has a weight in the business channel of 46.05%, compared to at 46.60%; that it represented in the same period of 2023.

The total investment, made in the acquisition of new vehicles by leasing companies in the first quarter of 2024, has reached 1,811 million euros, 10.49% more than at the end of March 2023, when an investment was recorded of 1,639 million euros.