Hertz Turkey hopeful about car rental market’s future

Hertz Turkey hopeful about car rental market’s future

ANKARA - Anadolu Agency
Hertz Turkey hopeful about car rental market’s future

AFP photo

Turkey’s fleet rental market will maintain its attractiveness for investors, thanks to the country’s young population and vibrant market, according to the head of car rental giant Hertz Turkey.      

“Turkey will always be an attractive market for foreign investors and has a great potential for both Hertz and the sector in terms of its young population and market vibrancy,” Hertz Turkey CEO Nur Hidayetoğlu told Anadolu Agency Sept. 13.      

Hidayetoğlu noted the economy remained strong despite the July 15 failed coup attempt, and the market recovered quickly.      

“Global investors continue to show interest, and talks are ongoing. [...] With the help of measures taken by the government, we believe that there will be no decrease in international investment figures,” she said.      

“Everything is back to normal. Although such periods are risky for all sectors, we are sure that everything is going to be better than ever very soon. The important thing is the peace and future of our country,” she added.      

Hidayetoğlu noted the sector continued to grow in Turkey, despite a slowdown in Europe.      

“The operational fleet leasing sector in Turkey keeps growing every day, with a large number of global and local companies entering the market,” she said.    

“Half of the top 10 companies are either foreign or have foreign partners. Considering the decline in the operational leasing sector in Europe versus the stable growth in the Turkish market, we expect more foreign investors to enter the market,” she added.      

Hidayetoğlu underlined in particular a 20 percent increase in the number of car rentals in the first half of 2016 compared to the previous year.      

“Hertz Turkey grew 17 percent compared to the first half of 2015. We will be working to increase our market share and the number of locations all around Turkey,” she said, adding their client base grew 18 percent in 2015 compared to 2014.      

“Thanks to the increase in the number of local tourists, we expect 15-20 percent growth in the sector by the end of the year.”      

The Hertz Corporation operates in around 150 countries around the world. The Florida-based American giant has been providing rental cars to its customers for almost 100 years.    
The global company has had operations in Turkey since 2001 and largely offers services in airports across the country.