NAICS Code 532112-01 - Passenger Car Leasing

Marketing Level - NAICS 8-Digit

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NAICS CODE 532112-01
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NAICS Code 532112-01 Description (8-Digit)

Passenger car leasing is a business activity that involves renting out cars to individuals or businesses for a specified period of time. This industry is primarily focused on leasing passenger cars, which are vehicles designed to carry up to nine passengers. The leasing period can range from a few days to several years, depending on the needs of the customer. Passenger car leasing companies typically offer a range of services, including maintenance, insurance, and roadside assistance.

Parent Code - Official US Census

Official 6‑digit NAICS codes serve as the parent classification used for government registrations and documentation. The marketing-level 8‑digit codes act as child extensions of these official classifications, providing refined segmentation for more precise targeting and detailed niche insights. Related industries are listed under the parent code, offering a broader context of the industry environment. For further details on the official classification for this industry, please visit the U.S. Census Bureau NAICS Code 532112 page

Tools

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

Industry Examples of Passenger Car Leasing

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

History

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.