Here’s why the Indian luxury car rental space is on the verge of explosive growth
Luxury cars and their attractiveness is not a topic that requires further validation.
Perceptions are everything in the world we live in and from time immemorial the role that dream wheels play in driving perceptions has been amply clear. Luxury cars and their attractiveness is not a topic that requires further validation. From popular culture to the pages of history, our psyche is replete with examples of luxury wheels subtly defining cultural nuances such as prestige, social status and financial well-being. In India we have books dedicated to Indian princes and their obsession with their Rolls-Royces, demonstrating the country’s long-standing love story with expensive and exclusive vehicles.
Cut to 2018 and things haven’t really changed. For decades, top CEOs, celebrities and royalty have made a statement with their luxury cars and continue to do so. The only difference is that now a lot of non-VIPs also have access to a suite of premium discs, from Jaguars, Range Rovers to Mercs, Porsches and even Tesla. And the force democratizing access to premium vehicles in India is the country’s luxury car rental market.
The best players in the rental car industry offer a full line of dream wheels for senior executives, luxury vacationers, tourists, honeymooners and anyone else who wants to drive or be driven in ultimate style without have to make big investments. The technological innovations of the luxury car rental companies that make the use of their services absolutely transparent further popularize the concept. It has become incredibly easy to hire a vehicle for yourself, a special guest, a member of your organization’s leadership, visiting investors, etc. in their own country or in a foreign destination. One can opt for luxury self-drive vehicles for a special date or fancy vacation or one can choose to be driven by a well-spoken, uniformed, highly trained and verified driver that the car rental companies provide.
The major luxury car rental companies in India also offer other amenities and services that make renting these vehicles much more attractive. They offer GPS and wi-fi services for seamless connectivity, convenience and a sense of security. Many also promise that the luxury cars rented are less than 5 years old and are regularly and very meticulously maintained so that the customer experience is nothing short of pure pleasure.
In addition, some of the leaders in this field, such as Avis, have made the entire luxury vehicle rental process absolutely automated, digital and paperless to appease the new age customer who is always busy, on the go. and seeking transparent technology-driven services. With technological improvements, more and more players can focus on mobile-centric solutions with an emphasis on personalization and high levels of customer satisfaction. It further encourages people to opt for luxury car rental rather than renting regular taxis or other means of transportation for themselves or their network.
It is therefore no wonder that experts estimate that the car rental market in India will grow rapidly and exceed $ 30 billion by the end of 2022. Several studies and reports also suggest that the Indian domain of luxury car rental is on the path of unstoppable growth and map the reasons for such an acceleration in the trajectory. Besides the many technological and customer-centric solutions that car rental companies are putting in place to drive this growth, there are other market factors leading to increased adoption. The rise of international tourism, a business ecosystem where national borders are rapidly blurring, the penetration of the Internet and smartphones, increased exposure to global luxury trends in developing countries, the increase in disposable income as well as the development of high-quality road infrastructure and the emergence of mega-cities are just a few. other key factors in this growth, according to most market research.
With a wide choice of vehicles to suit the occasion and needs, near instant deliveries, vehicles equipped with technology for convenience and safety, there is no reason that new-age consumers looking for comfort and convenience will look elsewhere than in the Indian luxury car. rental of space to meet their mobility needs. The industry allows businesses and individuals to drive the expensive cars they want / need at a fraction of the cost of purchase, while still getting a great experience. Corporate customers and end consumers alike have the choice of renting anything from a two-door sports vehicle for a fun night out with friends to a convertible that makes their vacation more special or luxury SUVs to deliver an experience. exclusive to customers. Such choice, splendor and luxury are pushing the Indian luxury car rental space to new heights and there is certainly no looking back when you zoom in on those dream wheels.
By Sunil Gupta, Managing Director and CEO, Avis India
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