Report Summary
China's Auto Rental and Lease Chain industry has experienced near 30 years' development since CITIC rented the first group cars for Beijing by way of Cross-border lease in 1980s and the Auto rental service has transferred its function from foreign affair activities and tourism to normal life. More and more enterprises begin investing on auto rental and auto rental companies bloom all over large and medium cities in China. There has been over 3000 auto rental companies, 100,000 cars in rental market and 10 billion turnovers till now due to the ceaseless increase of auto rental amount. Meanwhile, gradually improvement of credit market becomes one of the major factors which push the development of auto rental market. It's indicated that in the near 5-10 years turnovers of China's auto rental market will reach 40 billion.
Although the prospect of market seems bright to people in the industry, auto rental market is facing greater challenge because of the declining prices of all kinds of vehicles, rapid increase of residents' income, and increasing richness of automotive financial products together with warming of automotive credit consumption. The status quo of auto rental industry also casts a heavy shadow on the industry's prospect. According to the recent data, there are over 3000 auto rental companies in China and tens of thousands had a hand in auto rental business. However, 80% of those companies run less than 50 cars, 70% have less than 5 staff. By contrast, the world's largest auto rental company Hertz owns 525,000 vehicles for operation. Small scale, poor management and service, high rental threshold and price and unfeasible DOW, all the factors above are problems that keep the industry in durance and become the restrictions of development of auto rental and lease industry.
In this report, the status quo, trend of development and prospects together with the typical chain body of the auto rental market are analyzed in multi-angles according to the development environment (including economic environment, social environment, policy and consumer environment, etc.) Considering the regional differences of China's economy, consumer habits, we conducted an in-depth research on market and segmentation of key cities, meanwhile, in the process of analysis, we conducted an in-depth research on the operational difference of auto rental chain bodies by way of comparison in accordance with the actual situation.
