UK EV rental rates predicted to climb 1.3% by 2027 – AMEX GBT

UK EV rental prices are forecast to rise between 0.6% to 1.3% by 2027, according to the Ground Monitor report by American Express Global Business Travel (AMEX GBT).

The report found that Europe’s economies are expected to see modest growth over the forecast period, demand for cars should stay firm, while improved supply will keep a lid on price rises.

It also reported that global new car deliveries are keeping pace with demand, improving the rental market’s supply-demand balance, but geopolitical disruption and falling resale values could push vehicle and rental costs higher. 

Rate increases will also be minimal in the UK with recovering vehicle supply and strong competition pushing rates down.

The report said: “Building partnerships with car rental providers can help you source for best value and get the cars you need, in
your priority locations, all year round.

“Criteria for selecting a corporate car rental partner include coverage, pricing, service and willingness to collaborate.

“In previous years when we saw car shortages, it made sense to spread spend across several providers.”

It added: “As auto supply chains have recovered and providers have rebuilt inventory we believe it should be less
risky to consolidate your car program on just one or two providers.