China Auto Rental Files for Public Offering in NYSE
Since starting in 2007, China Auto Rental has grown a fleet of 26,000 and said it hopes to take this number up to 100,000 in 2015.
According to China Daily, China Auto Rental Inc. has filed for an initial public offering on the New York Stock Exchange.
The car rental company, which said it plans to raise $300 million to repay debts to buy new fleet vehicles, is considered the largest in the country because it offers car rentals in each province and region. Since starting in 2007, China Auto Rental has grown a fleet to 26,000 and said it hopes to take this number up to 100,000 in 2015.
According to data from the consulting firm Roland Berger Strategy Consultants, the car rental industry in China has grown about 30% every year since 2005.
For the full article from China Daily, click on the URL: http://www.chinadaily.com.cn/cndy/2012-01/20/content_14478981.htm
More Rental Operations
Stop Losing Money On Rental Tolls
Regardless of your rental fleet size and structure, fleet managers, executives, and owners can gain valuable insights into an often-overlooked area of fleet operations.
Read More →
Rethink The Future To Avert A Race To The Bottom
Rental car operators heard a sobering industry message and a stern challenge at the close of the International Car Rental Show.
Read More →
DriveItAway, Free2move Plan Shared Fleet Program for Independent Rental Fleet Operators
Vehicles would be placed with participating rental operations to support car renter demand and provide additional fleet capacity.
Read More →
Stellantis Recalls 1.3 Million Jeep Vehicles Worldwide Over Fire Risk
Stellantis is recalling more than 1.3 million Jeep Wrangler and Gladiator models worldwide over a fire risk linked to power steering pump wiring.
Read More →
Green Motion And U-Save Open Rental Operations In Guatemala
The brands will open their first rental car outlets in the country at La Aurora International Airport in Guatemala City.
Read More →
U.S. Business Travel Drives $623 Billion+ in Economic Impact as Spending Reaches $538 Billion
The data also underscores the industry’s strong multiplier effect across the U.S. economy, revealing that each dollar invested in business travel in 2024 generated $1.16 in GDP.
Read More →
Rental Fleet Sales Skating Just Above 2025 Levels
The U.S. economy's continued growth and positive business investment are creating a favorable environment for fleet vehicle demand.
Read More →
Grow Your Rental Business Beyond Cars
Rental fleet operations are facing numerous evolving challenges and opportunities from AI technology to rate and revenue management, to customer service and business growth.
Read More →
Using AI to Create Clarity, Not Conflict, in Rental Car Damage
Rental companies still need people, policy, judgment, and thoughtful implementation, with operators remaining in control of the customer experience.
Read More →
Get Ready To Roll: No Stopping Self-Driving Rental Cars
The autonomous mobility technology revolution will move at its own pace, but sooner rather than later.
Read More →