Management of Risk Factors in the Rental Car Market

Abstract

The car rental sector is a dynamic and rapidly growing business sector, which is important for both the development of the automotive industry and consumer mobility needs. In the rental car market, risk management becomes an essential factor determining the success and long-term growth of business operations. Risk factors inherent in this sector, such as the technical condition of cars, customer behavior, economic conditions and the legal environment, require a structured and efficient management that would allow companies to make the most of the available opportunities and to minimize threats. The purpose of this article is to examine the risk management of car rental and evaluate the impact of a 5–10-year-old car rental model with reverse logistics on risk reduction and business efficiency. The article examines the methods of the risk management process, presenting the methods of risk identification, assessment and reduction, as well as the possibilities of applying reverse logistics in the car rental sector. The results of the applied expert method of quantitative research and the conducted questionnaire survey revealed the factors that are most important for a company that renews its fleet of vehicles. These are the price, operating costs, sustainability, and environmental friendliness, with sustainability being the top priority. Companies can benefit from the research results when making decisions about the renewal and optimization of their vehicle fleet. It was concluded that implementing reverse logistics in the car rental sector will increase company profits and reduce pollution.