This report is an examination of the emerging vehicle rental market in China. The report examines the emerging market and players along with the opportunities for future growth and development.
Extract from Introduction
This report covers the market for private car hire in the People’s Republic of China. China' car-leasing market has great potential as the ratio of this sector's total turnover to the capital market is less than 1% of that of the United States. At present the vehicle rental market in China is small and highly restricted in terms of renters and who can rent. However, the vehicle leasing industry has successfully grown and a car hire industry is emerging. This report examines the nascent vehicle rental market in Mainland China as well as covering Hong Kong and Macau. The report looks at the emerging market and players as well as the opportunities for future growth and development. Also examined is the necessary infrastructure to support the industry such as the expanding Chinese road network and car manufacture and sales. China's car-leasing industry continues to show promise as many government departments are now turning to leasing cars rather than buying them. Add to this the fact that more and more Chinese consumers, most of whom can't afford to buy a car at present (unless second-hand), are still learning how to drive, so they are becoming potential car renters.
Across Asia self-drive rental for pleasure and business is becoming increasingly common and traditionally closed and restrictive markets such as Japan are opening up. Additionally, as tourists visit neighbouring territories of the PRC such as Hong Kong and Macau they are increasingly wanting to take their hire cars onto the Mainland. This is becoming a desire as China’s road network improves and upgrades.
