Dubai’s Roads and Transport Authority (RTA) has reported significant growth in the vehicle rental sector for 2024, highlighting the city’s expanding economic activities and transportation needs.
đźš— Key Highlights:
- 43% Increase in Commercial Vehicle Registrations: The number of newly registered commercial vehicles surged by approximately 43% in 2024 compared to the previous year, reflecting a robust demand for commercial transport.
RTA - 33% Growth in Vehicle Rental Companies: The number of registered vehicle rental companies rose by around 33% during the same period, indicating a thriving rental market.
RTA - 867 New Rental Companies Established: A total of 867 new rental companies were registered in 2024, bringing the total number of active companies in the sector to 3,494, up from 2,627 in 2023.
RTA - Fleet Expansion: The total number of vehicles in the rental fleet reached 71,040 by the end of 2024, compared to 49,725 the previous year.
RTA - Rise in High-End Vehicle Rentals: The sector also witnessed strong growth in high-end vehicle rentals, which rose by 73%, reflecting a growing demand for luxury transportation options.
Gulf News - Increase in Electric Vehicle Rentals: Electric vehicles within the rental fleet saw a 50% increase, aligning with global trends towards sustainable transportation.
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🛠️ RTA Initiatives Supporting Growth:
- Commercial Vehicle Life Extension Service: This service allows operators to extend the operational life of vehicles pending inspection clearance, promoting sustainability and reducing costs.
Gulf News - Hourly Commercial Vehicle Rental Service: This initiative enables both individuals and companies to rent commercial transport vehicles on an hourly basis, offering flexibility and efficiency.
Gulf News - Commercial Licensing System (CLS): The introduction of the CLS has simplified the application process for both new investors and existing service providers, improving governance and accelerating approvals.
Gulf News - Extension of Electric Vehicle Operational Lifespan: The operational lifespan of electric vehicles has been extended from four to six years, encouraging the adoption of eco-friendly vehicles.
Gulf News - Introduction of Luxury and Premium Vehicle Categories: Two new categories for luxury and premium vehicles have been introduced, aligning with global classification standards and increasing their operational lifespan to 10 years.
These developments underscore Dubai’s commitment to enhancing its transportation infrastructure and supporting the growth of the vehicle rental sector. The RTA’s initiatives aim to foster a sustainable, efficient, and customer-centric environment, aligning with the goals of the Dubai Economic Agenda (D33) to position the city among the world’s top three economic hubs.
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