Car rental firms seeking regional reach need to tap leisure market
- Published: 26 Feb 2013 at 11.46
- Newspaper section: Asia focus
Asean’s economic prosperity coupled with the rise of intra-Asean tourism is likely to help give a boost to the car rental business and the very few companies that have the capital to tap into the business on a regional scale.
Although the industry has been a fragmented one, most firms have enhanced their fleet sizes and increased their levels of profitability. Over the course of the next few years, the Asean car rental market is expected to experience accelerated growth values each year.
The rental car industry is booming in Asean. As a way of ensuring profitability, besides seeking market share and stability, most companies throughout the chain have a common goal: they want to reduce their dependence on the airline industry and business travellers renting cars at airports, and move toward the broader leisure segment.
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