China Automobile Rental Market 2014, Growth, Demand, Analysis, Forecast

Since the 18th CPC National Congress, the proposal of relevant policies of reformation of government car purchase, auto purchase restrictions and new-energy automobile have greatly promoted the robust development of China’s automobile rental market. The total scale of China’s auto rental market is expected to reach CNY 38 billion by the end of 2014, and the CAGR (Compound Annual Growth Rate) from 2010 to 2014 will up to 20.2%. The total number of automobile for renting in China is estimated to increase from 200,000 plus automobiles in 2010 to 430,000 plus automobiles, with a CAGR reaching 21%.

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This high CAGR has won China’s automobile rental market the name of sunrise industry and is favored by capital market. Many large auto rental enterprises have further expanded their business. China Auto Rental Inc. is about to go public in Hong Kong Stock Exchange, so as to gain more finance to facilitate the expansion. EHI Car Service also attempts to go public. In general, China’s auto-rental market has entered into fierce competition stage.