The Facts Attached To Hire And Rental Services In India
The Indian car rental market is booming and a large chunk of clients who are ready to spend money for the best services and great cars. Today, there are several international and domestic companies ready to invest heavily in this service and is slowly on the process of getting to the top and significant industries. The companies are well managed and are ready to provide different kinds of services relating to car hire. Today, the car hire market is pegged at $ 9 billion of which only 10% is organized. The coming years will definitely see more cars for hire and more rentals at important places and streets. Around 500,000 car rentals are expected to run on Indian roads. Expect car rental sector to grow at CAGR at 12% and is worth approximately $ 15 billion in the coming years and 50% will be the organized sector share in it. Both the organized and unorganized sector has a wide market with different kinds of clients all over the country. However, the growth is expected in the organized sector investing more in luxury cars that are in demand. The rise in personal incomes is apparent and the road infrastructure too is in a great shape.
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The coming future predicts a great boom in this industry which will definitely give a competition to the traditional car rental sector. The competition will also take place in the model of the business. Now the hire system will take place not only according to the destination, but also on hourly rates and intermediary connective passengers to drivers. One can also drive and also hire a driver. There are players in this sector who only act as middlemen and manage clients. The government is planning to support the sector with more concrete plans.
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