| Study Period | 2019 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Market Size (2025) | USD 2.05 Billion |
| Market Size (2030) | USD 3.02 Billion |
| CAGR (2025 - 2030) | 8.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Brazil Vehicle Rental Market Analysis
The Brazil Vehicle Rental Market size is estimated at USD 2.05 billion in 2025, and is expected to reach USD 3.02 billion by 2030, at a CAGR of 8% during the forecast period (2025-2030).
Over the medium term, with life returning to routine and commencing international travel, Brazil is among the top countries to visit on the tourist list. Owing to the rich cultural heritage and natural scenery of the Amazon forests and beaches, the government is also taking initiatives to boost the country's tourism industry.
The target set in the Brazilian National Tourism Plan was an increase in revenue generated by international tourism of 8.58% in 2023, but the result was an annual growth of 41%.
Additionally, the residents are moving toward rented vehicles rather than buying them because of high vehicle maintenance. These factors are likely to lead to Brazil's vehicle rental market growth during the forecast period.
Increased concern and awareness of lower emissions have increased car rental options. Additionally, vehicle rental also provides the option of increased mobility without the concern of paying the costs associated with car ownership and maintenance.
As a result, the shortage of vehicles led to a deficit between demand and supply, leading to buyers looking for alternative car options. The rental services offered by several companies in the market came across as the best alternative and a viable option for private vehicle owners, leading to increased demand for rental vehicles in Brazil.
Considering the high demand, various new startups and rental companies are also focusing on technological advancements such as the deployment of the all-in-one platform that offers SaaS (Software as a Service), HaaS (Hardware as a Service), and apps to manage transportation demands of companies covering people needs (charter transport, point to point, and car sharing), thus, creating a positive impact on the market.
Brazil Vehicle Rental Market Trends
Leisure/Tourism is Expected to Grow at the Highest Rate
Brazil is considered one of the top destinations for tourism, and its tourism industry is increasing steadily and is expected to grow exponentially.
Investments made by the government in developing tourism across the country contribute to increasing car rental rates in Brazil. For instance, according to the Brazilian Ministry of Tourism, spending by international tourists in Brazil reached USD 170 million in 2023, the highest in the last 25 years.
International arrivals are also rising every year, combined with the rise in domestic flights. Over 4 million foreign tourists visited Brazil in the first eight months of 2023, double the number in 2022, with the number of domestic flights growing by 33.7%, resulting in increased visitors and tourism activity.
Many business travelers also return for leisure in one of the country’s leading tourist destinations, like Rio or São Paulo. With the rise of new travel startups, online travel agencies are looking to innovate the industry.
With the rise in tourism and exponential growth in airport travelers, car rental services play a vital role in contributing to a smooth travel experience. Car rental services offer tourists the freedom to explore their chosen destinations at their own pace and are used for airport pickups and drops.
In June 2023, Brazilian car rental company Localiza opened a new tab by launching a follow-on share offering aimed at expanding its car fleet and service network. Thus, such developments are contributing to segment growth.
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Online Booking is Dominating the Market
Brazil has a significantly high number of internet users due to the availability of high-speed internet at affordable prices. According to the International Trade Administration, by 2025, Brazil will be among the five largest markets in the world for smartphones, with approximately 200 million connections.
With the growth in smartphone penetration, travelers are shifting to online car booking services, making car rental companies shift their business models from brick-and-mortar structures to online business models to provide their customers with an easy and hassle-free experience.
The advancement of car rental services technology offers extra features for real-time monitoring of a rental vehicle's operation and performance. Such features significantly benefit fleet managers and make rental services more efficient and effective.
The popularity of online¬ car rental booking has caused many rental age¬ncies to offer exclusive¬ deals and discounts for those who book via the internet. As a result, more travelers are opting to rese¬rve their rentals online¬ instead of choosing physical agencies, causing a surge¬ in demand for this convenient me¬thod.
In March 2023, Sao Paulo launched the MobiazapSP app ride service to compete directly with Uber, Didi, Chuxing 99, and other platforms.
Advancements in technology, such as virtual reality and artificial intelligence, may also play a role in the future of car rental booking, thus having a positive impact on the market segment.
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Brazil Vehicle Rental Industry Overview
Brazil’s vehicle rental market is consolidated and led by globally and regionally established players. The companies adopt strategies such as new product launches, collaborations, and mergers to sustain their market positions. For instance,
- In July 2023, BYD, the world’s leading manufacturer of new energy vehicles, collaborated with 99 and announced a vehicle-for-hire company operating in Brazil owned by Didi Chuxing (DiDi), the arrival of 300 D1 EVs, the first electric vehicle tailor-made to meet the ride-hailing market's demands through an application, marking a new milestone in fleet electrification for passengers in Brazil.
Some of the major players in the market include Localiza, Movida, Unidas, eDreams, and Hertz Corporation.
Brazil Vehicle Rental Market Leaders
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Movida
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The Hertz Corporation
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Localiza
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VIPCars.com
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eDreams
- *Disclaimer: Major Players sorted in no particular order
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Brazil Vehicle Rental Market News
- June 2023: Brazilian car rental company Localiza opened a new tab by launching a follow-on share offering aimed at raising as much as BRL 4.5 billion (USD 935.51 million) to expand its car fleet and service network.
- May 2023: Brazilian ride-hailing app 99 planned to more than double the number of electric cars serving its passengers in Brazil in 2024, with the goal of reaching 1,000 vehicles.
Brazil Vehicle Rental Industry Segmentation
Vehicle rentals contain a car booked in person, by mobile through the mobile application, or offline. A vehicle rental service is a service that helps customers rent a vehicle for short periods or longer duration. A short period generally ranges from a few hours to a few weeks.
The Brazilian vehicle rental market is segmented by application type, booking type, vehicle type, and end user. By application type, the market is segmented into leisure/tourism, business, and fleet outsourcing. By booking type, the market is segmented into online and offline. By vehicle type, the market is segmented into passenger cars and commercial vehicles. By end user, the market is segmented into fleet operator and tour operator.
The report offers market size and forecasts in value (USD) for all the abovementioned segments.
| By Application Type | Leisure/Tourism |
| Business | |
| Fleet Outsourcing | |
| By Booking Type | Online |
| Offline | |
| By Vehicle Type | Passenger Cars |
| Commercial Vehicles | |
| By End User | Tour Operator |
| Fleet Operator |
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Brazil Car Rentals Market Research FAQs
How big is the Brazil Vehicle Rental Market?
The Brazil Vehicle Rental Market size is expected to reach USD 2.05 billion in 2025 and grow at a CAGR of 8% to reach USD 3.02 billion by 2030.
What is the current Brazil Vehicle Rental Market size?
In 2025, the Brazil Vehicle Rental Market size is expected to reach USD 2.05 billion.
Who are the key players in Brazil Vehicle Rental Market?
Movida, The Hertz Corporation, Localiza, VIPCars.com and eDreams are the major companies operating in the Brazil Vehicle Rental Market.
What years does this Brazil Vehicle Rental Market cover, and what was the market size in 2024?
In 2024, the Brazil Vehicle Rental Market size was estimated at USD 1.89 billion. The report covers the Brazil Vehicle Rental Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Brazil Vehicle Rental Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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Brazil Car Rentals Industry Report
Statistics for the 2025 Brazil Vehicle Rental market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Brazil Vehicle Rental analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
