Vehicle fleet leasing offers rise in Brazil  

By Daniel Bland, October 2024
Fleet Mobility Today

Vehicle leasing in Brazil is on the rise, considering the fleet sizes reported by the country's three largest vehicle leasing providers, local companies Localiza, Movida and Unidas. 

In 2Q24, the fleet size of the country's largest player Localiza was up 7.5% year over year to 631,630 vehicles. While its long-term leasing fleet rose 9.6% to 307,539 vehicles, its rent-a-car (RAC) fleet increased 5% to 322,354 vehicles.  

Besides having the largest leased fleet in Brazil, Localiza has the largest car rental agency network in the country. (photo: courtesy of Localiza)

Meanwhile, Brazil's second largest player Movida reported an overall increase of 1% during the same period reaching 246,364 vehicles. Despite its RAC fleet showing a decrease of 3.9% to 108,716 vehicles, its leased fleet rose 5.3% to 137,649. 

At the same time, the country's third largest player Unidas posted a 9.8% overall increase to 116,406 vehicles. While its leased fleet jumped 27% to 57,136 vehicles, RAC slid 4% to 59,270.  

Among the other leasing providers in Brazil is local company LM Frotas, as well as international players such as France-based Ayvens and Arval.