Tools commonly used in the Passenger Car Leasing industry for day-to-day tasks and operations.

• Fleet management software
• GPS tracking systems
• Customer relationship management (CRM) software
• Accounting software
• Vehicle inspection software
• Online reservation systems
• Mobile apps for customers and employees
• Fuel management systems
• Telematics devices
• Vehicle diagnostic tools

Common products and services typical of NAICS Code 532112-01, illustrating the main business activities and contributions to the market.

• Short-term car rental
• Long-term car rental
• Corporate car leasing
• Personal car leasing
• Luxury car leasing
• Car sharing
• Peer-to-peer car rental
• Airport car rental
• Ride-hailing services
• Car subscription services

The specific certifications, permits, licenses, and regulatory compliance requirements within the United States for this industry.

• Commercial Driver's License (CDL): Required for drivers of vehicles with a weight of 26,001 pounds or more. Issued by the Federal Motor Carrier Safety Administration (FMCSA).
• Operating Authority (MC Number): Required for companies that transport passengers across state lines. Issued by the FMCSA.
• Vehicle Registration: Required for all vehicles used for passenger car leasing. Issued by the Department of Motor Vehicles (DMV) in each state.
• Insurance: Required for all vehicles used for passenger car leasing. Insurance coverage must meet state and federal requirements. Issued by various insurance companies.
• Federal Excise Tax (FET): Required for all vehicles used for passenger car leasing. Issued by the Internal Revenue Service (IRS).

A concise historical narrative of NAICS Code 532112-01 covering global milestones and recent developments within the United States.

• The passenger car leasing industry has a long history dating back to the early 1900s when car rental companies started to emerge in the United States. In 1916, the first car rental company, called Rent-A-Car, was established in Omaha, Nebraska. The industry continued to grow throughout the 20th century, with the introduction of new technologies such as computerized reservation systems and GPS tracking. In recent years, the industry has faced challenges due to the rise of ride-sharing services such as Uber and Lyft, which have disrupted the traditional car rental and leasing business models. However, the industry has adapted by offering more flexible leasing options and expanding into new markets such as electric and hybrid vehicles. Passenger car leasing has been a growing industry in the United States in recent years, with a compound annual growth rate of 5.2% from 2016 to 2021. The growth has been driven by factors such as increasing demand for flexible transportation options, rising disposable incomes, and the growing popularity of electric and hybrid vehicles. The COVID-19 pandemic had a significant impact on the industry, with a sharp decline in demand for car rentals and leasing due to travel restrictions and reduced business and leisure travel. However, the industry is expected to recover in the coming years as travel restrictions are lifted and the economy rebounds. Overall, the passenger car leasing industry in the United States has a promising future with opportunities for growth and innovation.

The anticipated future trajectory of the NAICS 532112-01 industry in the USA, offering insights into potential trends, innovations, and challenges expected to shape its landscape.

• Growth Prediction: Growing

  The passenger car leasing industry in the USA is expected to experience growth in the coming years. The increasing demand for rental cars and the growing popularity of car-sharing services are expected to drive the growth of the industry. Additionally, the rise of ride-hailing services is expected to increase the demand for leased vehicles. However, the industry may face challenges due to the increasing popularity of electric vehicles, which may reduce the demand for traditional gasoline-powered rental cars. Overall, the industry is expected to grow steadily in the coming years.

Recent groundbreaking advancements and milestones in the Passenger Car Leasing industry, reflecting notable innovations that have reshaped its landscape.

• Contactless Rental: Many car rental companies have introduced contactless rental options to reduce the risk of COVID-19 transmission. Customers can now book and pick up rental cars without interacting with rental agents.
• Subscription Services: Some car rental companies have introduced subscription services that allow customers to rent cars for longer periods of time, typically one to six months. These services are aimed at customers who need a car for an extended period but do not want to commit to a long-term lease.
• Mobile Apps: Many car rental companies have developed mobile apps that allow customers to book and manage their rentals from their smartphones. These apps also provide customers with information about their rental cars, such as fuel levels and mileage.
• Electric Vehicles: Some car rental companies have started to offer electric vehicles as part of their rental fleets. This is in response to the growing demand for environmentally friendly transportation options.
• Autonomous Vehicles: While still in the testing phase, some car rental companies are exploring the use of autonomous vehicles in their fleets. These vehicles have the potential to reduce labor costs and improve the efficiency of rental operations.