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China’s automobile rental market is about to enter the high-speed development interval and prime 100 billion yuan (about 15.39 billion U.S. {dollars}) subsequent 12 months, Pattern reviews citing Xinhua.
The market will embrace high-speed improvement after the automobile rental business reshuffled over the earlier 5 – 6 years, in accordance with a report by Web knowledge evaluation service supplier Analysys.
In 2021, the business noticed some automobile renting firms with excessive competitiveness together with China Auto Rental and eHi taking the main share of the market.
There are 418 million Chinese language individuals with a driving license in 2020, however the personal automobile possession is barely 244 million in the identical 12 months. Because the variety of authorized drivers with no personal automobile elevated sharply, a big buyer base for the automobile rental market emerged, famous the report.
Due to favorable insurance policies and rising consumption, the nation’s automobile rental demand is increasing steadily, the report reads.renta
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