Strong euro could hit rental sales

26 January 2004: The strength of the euro against the dollar could have a negative effect on the sales of cars into the rental market here in 2004.

The rental market for 2003 was 19,600 units, or 13.5 per cent of all car sales in the country. But in an overall market drop of just over 6 per cent, the rental segment fell by 10.5 per cent compared to 2002.

The segment has a significantt dependence on North American tourism to Ireland, which has been flat since the World Trade Centre atrocity.

In the latter part of 2003, that inward tourism market was also hit by the increased costs to North Americans coming to Europe with the 27 per cent rise in the value of the euro against the dollar.

©2004 irishcar.com