Ottawa, Ontario — Canada’s overall length of rental (LOR) for collision-related rentals in Q3 2024 was 15.1 days—a 1.2-day decline from Q3 2023, according to a new report from Enterprise Rent-a-Car. This mirrors the U.S. LOR decline also seen in Q3 2024, which also observed a 1.2-day decline to 16.3 days.
When it comes to Canada’s provincial statistics, Alberta saw the highest LOR at 16.3 days, a 0.1-day increase compared to Q3 2023.
“Given that the August 2024 hailstorm was estimated to have caused almost $3 billion in losses—the second-costliest weather event in Canada’s history, according to the Insurance Bureau of Canada—this slight increase seems fortunate, though the complete picture may ultimately be reflected in Q4 2024’s results,” wrote Enterprise in its report.
Ontario marked the second-highest LOR at 16.2 days, though the results represented a 1.8-day decrease.
Prince Edward Island had the lowest LOR at 13.6 days, a significant six-day drop from Q3 2023. Quebec was next-lowest at 15.3 days, marking a 1.9-day decline from the same quarter of 2023.
Enterprise noted in the report that, compared to Q3 2021 when the overall LOR was 11.4 days, the results are still significantly higher than in 2021.
Driveable LOR in Canada was 12.1 days in Q3 2024, marking a minor 0.2-day drop from Q3 2023. Ontario had the highest driveable LOR at 13.3 days, a 0.6-day drop, with Alberta close behind at 13.0 days, though the western province marked a 0.2-day increase in driveable LOR.
Quebec had the lowest driveable LOR at 9.6 days, a 0.3-day decline from Q3 2023.
Canada’s non-driveable LOR was 26.5 days in Q3 2024, marking a 6.2-day drop from Q3 2023.
“While this decline is significant,” noted Enterprise, “it is still significantly elevated compared to Q3 2021’s results of 18.6 days.”
Newfoundland and Labrador had the highest non-driveable LOR at 36.6 days, followed by Alberta at 30.4 days and Nova Scotia at 30 days. Quebec had the lowest non-driveable LOR at 21.6 days.
“Of note was Prince Edward Island’s results of 28.7 days, representing a 20.3-day decline from Q3 2023,” wrote Enterprise.
The company concludes the report by noting that, while LOR continues to decline from 2023 highs, numbers remain higher than pre-pandemic.
“As we enter the final quarter of 2024, positive signs include lessening backlogs and lowered supply chain challenges. While these positives are encouraging, other challenges remain,” said Enterprise, noting significant weather events, increased premiums, higher deductibles and claim-filing aversion.
Click here for more information on Enterprise’s Canada Average Length of Rental report.
The post Collision-Related Rentals: Canada’s overall LOR down 1.2 days over Q3 2023; P.E.I. marks six-day drop, says Enterprise report appeared first on Collision Repair Magazine.
