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The pandemic-imposed lockdowns and travel restrictions crushed the demand in the car rental market last year, as U.S. car rental industry revenue declined 27.4% year-over-year in 2020. However, the industry rapidly recovered this year, owing to a strong vaccination drive, an increase in new car prices, and a growing interest in sustainability. Rising energy prices and growing interest in electric vehicles are incentivizing car rental companies to add more battery-powered vehicles to their fleets, which, in turn, fosters the industry’s long-term growth prospects. The global car rental market is expected to grow at 4.6% CAGR and reach $141.17 billion by 2028. So, both CAR and HTZ should benefit in the long run.
CAR is a winner with 181.6% gains versus HTZ’s 56.6% returns in terms of their past three months’ performance. But which of these stocks is a better pick now? Let us find out.
