China Auto Rental Car rental network of East China lift the acquisition of the l
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Hu Haibin, vice president of China Auto Rental confirmed to reporters yesterday, the company has formally acquired a wholly-owned Automobile Leasing Co., Ltd. Shanghai East China (the "East lease"), transaction amount 2550 mill ion. This is the China Auto Rental received in September this year, Legend Holdings 1.2 billion in total capital injection from a major strategic initiatives.
Leasing under the East under the jurisdiction of the Shanghai International Group Co., Ltd. Shanghai East China, the Shanghai East China Industrial Co., Ltd. business transformation, so up for sale. Hu Haibin said China Auto Rental Leasing for the acquisition of East China, mainly in Shanghai, the company acquired the lease area and hundreds of qualified rental car license as well as its many customers in the Yangtze River Delta region.
Lenovo's capital injection, at present, China Auto Rental is a monthly rate of over one thousand new cars purchased, by the end of fleet size will exceed 10,000, is expected within four to five years to reach 10 million units of the scale.
Informed sources, China Auto Rental rates for this advertising into tens of millions or even billion in size, only the framework of Focus Media, a possible inputs million yuan level to reach. Currently, the company significantly reduced all of its rental vehicles, a decline of 30% to 50%.
Currently, network rental is attracting large investments to enter. A car rental Co. in August Hi also to receive a total amount of Goldman Sachs-led $ 70,000,000 in the third round of financing. Legend Holdings with the input of the industry just two months to about 17 billion investment into chips.
In fact, the Chinese auto market since 2005, the Divine, one Hi, Extreme and a number of local car rental companies there. However, due to car rental industry must maintain an adequate fleet size, the use of scale can be profitable. Prior to thousands of domestic car rental companies, but 80% of the operating vehicles less than 50 vehicles, 70% of the company, formally the number of employees less than 5, the 10 largest car rental companies less than 10% market share, industry concentration is low.
"Legend of the Divine for the injection of no less than one IPO." Shenzhou Car CEO Lu Zhengyao have said so. 100,000 Shenzhou scale will drive the industry's largest car rental companies to keep the scale effect, the business will be more than 130 cities across the country.
