In recent years, long-term rental has been very popular with French motorists. Here’s why.
Since the end of the health crisis, sales of new cars have been on the rise again. And in particular thanks to long-term rental.
The success of rental
Globally, major automotive groups recorded record results in 2023. The overall turnover has jumped 14%, profits increased by 15%, and sales increased by 7%. Very good scores, after a period of global pandemic which severely disrupted the market. And good news, France is also benefiting from a nice increase in registrations, since no less than two million new cars were sold last year, marking an increase of 15.3% compared to 2022. And this despite a slight decline in sales in May (-2.9%), which is not really worrying. At the heart of this improvement, a new trend is emerging: long-term rental (LLD). Traditionally reserved for companies in the B2B context, this formula has gradually attracted the general public over the years. Today, it plays a major role in the growth of the automobile market, particularly in France where it is very popular.
A rental with many advantages
According to an analysis by Sesamlld, the growth of LLD exceeds that of the automobile market as a whole. In 2023, 600,242 vehicles were registered under LLD, representing 29.1% of total registrations, an increase of 23% compared to the previous year (+1.8 points). But what explains this trend? According to Opel boss Florian Huettl, there are actually several reasons. He explains in particular that “the customer is looking for mobility, autonomy, rather than the object itself”. In addition, the LLD allows access to new cars while controlling your budget. Furthermore, this offer often includes services such as maintenance, assistance and insurance, further simplifying the lives of motorists. So many advantages which explain why this solution is today increasingly favored by drivers of all types in France. This tailor-made offer is an opportunity to drive the latest vehicles without the constraints of a traditional purchase.
No wonder the craze continues to increase over time!
