Overview of Car Rental Industry in India

Kimi Dutta Kimi Dutta
Mar 28, 2021 5 min read
Overview of Car Rental Industry in India

The Indian Car Rental Industry has proven to be one of the leading industry, to be able to work independently. The root cause is that the modes of transportation is more practical, cost-effective and sustainable among its growing urban population. There is a review of factors responsible for the growing success of car rental market in the country. Lets look at the major advantages of this car rental industry.

Advantages of Car Rental Industry
Business model of Technology-based Car rental services
‘Retailification’ of the Car Rental Industry
Top Car Rental startups in India
FAQ

Advantages of Car Rental Industry

Easy Access

With being the most eminent in travel industry, Car Rentals offers the best automobile options based on customer’s requirements. From travelling to another city, to being a part of an business meeting, car rental services surpasses all expectations.

Liberty from repair and maintenance

The biggest advantage that rental cars have attained over personal cars is perhaps the relaxing guidelines for repair and maintenance. It means the customers has no need to hit the head.

As most car rental companies have basic protocol, In case of any accidental damages caused to their vehicles by the customer, the company will be responsible for the repair as per the guidelines, except the advance security deposit or minimal charges before lending the car.

Cost effective

Relatively speaking, rental car industry is the economic hub, because of its dominance over personally owned cars, especially when it comes to being pocket-friendly. The travelling option is cost effective allowing the customers to save more, at the same time offering hassle free experience.

Elasticity in Vehicle hire option

While a typical fastback car fits just 5 people, car rentals can be the best choice when it comes to travelling in a larger group. The car rental service providers operate at full capacity to deliver a safe and comfortable ride/drive to its users.

With most providers, the users can effortlessly pick personalized cars that best suit their travelling needs. They also have an in-house team of dedicated experts who can assist the customers with better selection of a vehicle based on their individual requirements.


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Business model of Technology-based Car rental services

Quite commonly at this present time, it has been way too convenient for people to book or rent a car from anywhere via the technology-enabled online car rental services. With just the tap of a button, rental car services is a proven technology for a pleasant ride.

As most the people own smartphones nowadays, accessing such services seem like as easy as pie. There are just three steps Pick, check availability, book the car, and its done. Amidst the use of technology tools in one’s car rental business, the rental service option is holding rich potential for expanding services and improving access for many users all-round.

However, such online platforms have managed to speed up the growth of the Indian car rental industry and has also enabled several offline service providers to upgrade their business model and more importantly by following the digital route. There can also be a survey conducted for more opportunities and to gain more customers.

‘Retailification’ of the Car Rental Industry

The retail industry is one of the top-ranked provider that streamline exceptional productivity and is likely to win over their peers in the market. With many car rental companies piling up, retail companies have optimized the use of digitalization to improve their customer experience, saving time and efforts.

In a way, digital technology is transforming the car rental industry that allows car rental branches to connect with customers anywhere, everywhere and anytime, which indirectly is a savior to customer needs.


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Top Car Rental startups in India

Myles

Myles was founded in 2013 by Sakshi Vij. It is a leading self-drive car rental service provider in India. The cars offered by Myles range from economical hatchbacks to SUVs.

Myles Website
Myles Website

Zoomcar

Zoomcar is a car rental company that also started its journey in the year 2013. It allows the user to rent cars on hour, day, week, and monthly basis. Zoomcar is headquartered in Bangalore and has spread its services in Pune, Delhi NCR, Mumbai, Chennai, and Hyderabad.

Zoomcar Website
Zoomcar Website

FAQ

How much does it cost to rent a car in India?

On average a rental car in India costs ₹2000 per day.

Is car rental business profitable in India?

Car rental business in India can be quite lucrative and profitable, if you learn what steps should be taken in order to maximize your odds of success.

Can I give my private car on rent?

Yes, you can give your car on rent basis to the companies.

Conclusion

Hence the general idea is to build an Omni-channel market base content, modernize with social media, implement real time technologies for market growth, and contribute to customer requirements with new strategies more often to survive in this vehicle rental industry.

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