Hertz Turkey hopeful about car rental market’s future

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, reported Anadolu Agency.

“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,” Nur Hidayetoglu, CEO at Hertz Turkey told Anadolu Agency Tuesday.

Hidayetoglu noted the economy remained strong despite the July 15 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.

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

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

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

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

“Hertz Turkey grew 17% 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 the number of their clients in 2015 also grew 18% compared to 2014.

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

Hertz Corporation is operating around 150 countries in 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 offered services in the airports across the country.