The rental car industry in the United States is booming, as the country prepares for a holiday season of holiday shopping.
According to data from the National Association of Realtors, the rental car rental industry has been on a tear since last year’s holiday shopping season began, with sales surging nearly 15 percent in the first quarter of 2019, a record high.
The rental car business is expected to be worth about $2.5 trillion in 2020, according to a report from CB Insights.
This is just the start.
In 2021, the number of leased cars could reach nearly one million, with leasing becoming more popular with younger consumers, according the Realtor’s Association.
This year, more than 1 million people are expected to rent vehicles on the market, according a Realtee’s Association report.
There are several ways consumers can get a car, including leasing, as well as buying and renting.
However, it is not just buying a car.
Consumers can lease their own car and can also rent a car for themselves, according Realtees Association.
As of March, there were nearly 9 million leasing vehicles in the country, according CB Insight.
The majority of new rental vehicles leased by U.S. consumers in the third quarter were leased by people age 18 to 34, and those age 35 to 54.
In the second quarter, the numbers were the same.
The leasing market is expected as the holiday shopping period begins.
In 2020, the average price for a lease would be $3,000, according an estimate from Edmunds.com.