Car rental is the act of hiring a vehicle for use after a defined period of time and then returning it at the expiry of that period for an identified sum of money. The Car rental business in general has been lucrative of late with increased demands from clients who majorly consist of travelers and locals with either no car or have cars with problems. As an industry, the car rental business is a buzz of activities which could easily be said to have been characterized by the following factors which also do characterize other industries according to the Porter’s five model industry analysis.
