Aussie car rental services are booming in the Greater Brisbane region, with a record $1.9 billion in annual revenue in 2016, according to data from the Australian Bureau of Statistics.
The region’s population has grown by 50 per cent since the 1950s and the numbers of cars in the city is expected to triple by 2036.
“There is a boom in the rental sector, we have over 10,000 vehicles per day and a massive number of rental properties across Brisbane,” Mr Rolfe said.
“In the next 10 years, the number of cars will more than triple.”
Here are the top five car rental companies in Brisbane: * National Car Rentals: Launching in 2017, it has expanded into hotels, motels, private hire and community centres, and it offers rental car insurance.
It also has car rental properties in other parts of the state, with locations in Brisbane, Gold Coast, The Rocks, The Sunshine Coast and The Sunshine State.
The company offers a range of car rental options and is available in Brisbane’s north and south-west.
* B& Car Renters: A Melbourne-based company, the company operates in the Central Coast, the Gold Coast and the north-west, and offers car rental in other cities.
* T-Mobile Car Rental: The company was founded in 2003, and is based in Brisbane.
The first car rental to open in Queensland, the firm offers car rentals in Sydney and Melbourne.
* G&: Launched in 2009, the business is based out of Adelaide.
The largest of the company’s car rental franchises, it is based around the Central Highlands and south of the River.
* Car Rent Australia: The national company operates on the Goldfields, Sunshine Coast, Sunshine, Central Coast and south east of the Sunshine Coast.
* The Car Renter’s Choice: The second-largest car rental franchise in Queensland is based on the Sunshine.
It offers car leases in Adelaide and Brisbane.
* Supercar Rentals Australia: Launced in 2011, the car rental business has a presence in Brisbane and its sister company is based outside of the Gold Fields.
Renters Brisbane: Launged in 2013, the C&s Brisbane car rental operates on Brisbane’s south side.
It operates car rental units in the South, North, Central, West and South-East of Brisbane.
“The industry is expanding,” Mr Kneale said.
“[The rental business] is growing every day.”
The next big thing for car rental Australia The growth of car rentals is expected in the next five years, with an estimated 10,800 vehicles on the roads by 2035, according the Burswood-based Automotive Research Institute.
This is equivalent to the number in Melbourne alone, the institute said.
There are currently 883 rental car operators in the state of Queensland, of which only one (Luxury Car Rents) operates in Brisbane alone.
While there are already a number of car owners in the Brisbane area, it’s not clear whether the company will expand further, or if the demand for rental cars will slow.
“This is the first year that the industry is really being watched, so there is a lot of excitement around the growth of the industry,” Mr Lydon said.
While the car industry in Queensland has been growing for some time, there are some signs the market may be slowing down.
“I would say the market is still in a period of consolidation, there is an element of that, but there are a number factors that are affecting the market,” Mr Daley said.
The industry is experiencing its biggest year-on-year rise in more than 20 years, according figures from the National Car Rotation and Pricing Association.
A recent survey by the RTA found rental car companies in the region were experiencing a sharp drop in sales.
This prompted the industry to increase the price of car leases and improve rental car policies, but this has not led to the growth that was hoped for.
The Queensland Government has announced a $1 million boost to the rental industry, with the goal of encouraging more people to come and use the services.
The Government has also announced an increase in the number and cost of car hire, which has resulted in the introduction of new car hire rates in 2017.