Carzonrent to invest Rs. 400 crore by 2016

  • Nov 26, 2013
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Carzonrent plans to aggressively expand its self driven car service with the launch of its own product-Myles and will be investing Rs. 400 crore by end of 2016.

India's largest car rental company-Carzonrent, is now on the lines of developed Europe and the US markets and is all set to launch its own service-Myles in order to develop its self driven cars.

Carzonrent

Myles would entail an estimated investment of Rs. 400 crore and will have a strong 5,000 car fleet in the next three years. The first to hit the market for self driven cars, the company would start with an initial fleet of 100 cars with brands like Mahindra E2O, Maruti Swift, Volkswagen Polo, Toyota Etios, Nissan Sunny, Mahindra XUV500, Ford Endeavour and Toyota Fortuner. Any driver with a valid license and credit card can avail services from Rs. 800 to Rs. 4,999 for single day usage.

Besides tapping the fast growing tourism and leisure market, the self-driven cars would be available at the airport, railway station and other central outlets of Carzonrent to provide convenient and affordable mobility.
Commenting on the occasion, Rajiv Vij MD and CEO of Carzonrent said, "There is a tremendous opportunity of building the self-driven segment from the dominant un-organised and un-structured taxi business in the Indian market. We aim to bring in the best global practices in the self-driven business under transparent costing and hassle free experience."


The $4 billion Indian commercial taxi market is now largely restricted to rental, radio cabs and corporate leasing. The self-driven concept is fairly new with some global players like Hertz and Sixt initiating it a few years ago but now all these players have eventually opted out of the price sensitive Indian market.

Self-driven cars are globally more popular than chauffer driven cars as they are more affordable. "We have tried to keep our service charges much lower than the regular cabs as we too save on chauffer salary and perks that forms a large segment of our operating costs. Like in case of the electric car, the Mahindra E2O, it can be self driven at Rs. 800 for the entire day, which is almost half the cost of any regular taxi across India for the same duration," Vij added.

Myles would provide overall driving experience as the cars are comprehensively insured and have a valid rent-a-cab license for self drive. The GPS devices in these cars will provide all the help during critical times in case of technical breakdown or mishaps.

The company will initially roll out the GPS enabled Myles service in Delhi, Mumbai and Bangalore with plans to extend this self-driven service to 35 cities like Hyderabad, Chennai, Jaipur, Chandigarh, Ahmedabad, Pune and Goa and also take its self-driving car fleet to 5,000 in the next three years.

Carzonrent has a total strength of 7,000 cars in its fleet dedicated of cabs with brands across the spectrum from Marutis to Mercedes vehicles.

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