04 Feb '11, 12pm

Car rental business up by 25-30% this Lunar New Year - Channel News Asia

Car rental business up by 25-30% this Lunar New Year - Channel News Asia

SINGAPORE : The car rental business is up this Lunar New Year season. Industry players said that compared to the same period last year, it has gone up 25 to 30 per cent. Rental cars are a popular option to ferry family and friends this festive season. But this year's demand has revved up much higher than usual. K K Ho, general manager of Popular Rent A Car, said: "We figured it is because of the recovery of the economy and also because of the sudden rise in COE, which (are) some reasons why the buyers, some of those who find it too expensive to buy a car, world prefer to rent a car instead." Some companies said their car rental fleet was booked way ahead this year. But the downside to the high demand is that prices are being jacked up by at least 20 per cent across the industry. Customers however do not seem to mind the extra cost, as long as they can get their hands on a ...

Full article: http://www.channelnewsasia.com/stories/singaporelocalnews...

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