Crisis in Car Rental Sector to delay tourism recovery
ITIC has predicted that the lack of an adequate supply of cars on the rental fleet this year could lead to a serious loss of business, particularly in the peak season.
It has called on the Government to address the issue in the Finance Act by introducing three remedial self-financing measures:
- Postponing the proposed elimination of the Vehicle Registration Tax (VRT) refund.
- Introduction of a stimulus package.
- Extension of the scrappage scheme to 2010 registered cars coming off this year’s fleet.
CLICK HERE to download a copy of the Press Release. Or for a detailed report, Car Rental Shortage & Tourism, CLICK HERE.
March 9th 2010
March 9th, 2010 at 11:17 pm
The Car rental issue will dmage us reputationally as well as financially if it is not resolved quickly. Unfortunately if the hotel industry crisis is anything to go by, we may expect no intervention at all beyond the usual platitudes of “allowing market forces to prevail” etc. A definite case has been made for short term intervention and expediency is the order of the day. Lets hope that we get a dynamic and proactive new Minister for Tourism how will make the resolution of this issue the hall mark of his or her approach to grappling the issues that beset the one industry that has the capability of returning our economy to growth. Well done ITIC on a comprehensive and easily understood report.