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Car Hire - China - July 2018

“Chinese consumers rent cars mostly for domestic self-drive tour and visiting family or friends. Consumers with a high income tend to rent for self-drive tour and the low income group like to rent for visiting family or friends. Males aged 30+ usually use B2C platforms for a specific and personalised renting experience; females aged 20-24 seek out agent platforms for a one-stop solution. Consumers want a soothing renting experience, which is a simple renting process and convenient pick-up and return locations.”

– Terence Zhou, Research Analyst

This report examines the following issues:

  • Offer a more family-friendly renting solution
  • How can car renting companies answer consumers’ call for convenience?
  • How to win over car renters in tier one cities?

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Table of contents

  1. Overview

    • What you need to know
      • Covered in this Report
        • Included
          • Excluded
          • Executive Summary

              • The market
                • Figure 1: Best- and worst-case forecast of the market value of car rental and time sharing, China, 2013-23
              • Companies and brands
                • Figure 2: Market share of car rental companies, by value, 2015-17
                • Figure 3: Market share of time sharing companies, by value, 2015-17
              • The consumer
                • Consumers rent most for domestic self-drive tour and family and friends visit
                  • Figure 4: Car renting purposes, February 2018
                • Consumers with low income rent more to visit family and friends
                  • Figure 5: Purposes of renting car, by personal monthly income, February 2018
                • B2C is the most popular platform
                  • Figure 6: Most used car rental platform in the past 12 months, February 2018
                • Convenience matters most
                  • Figure 7: Important car renting factors – TURF Analysis, February 2018
                • Premium feeling depends on the renting purposes
                  • Figure 8: Features for premium rental car experience, by renting purposes, February 2018
                • What we think
                • Issues and Insights

                  • Offer a more family-friendly renting solution
                    • The facts
                      • The implications
                        • Figure 9: Colour in a car
                      • How can car renting companies answer consumers’ call for convenience?
                        • The facts
                          • The implications
                            • How to win over car renters in tier one cities?
                              • The facts
                                • The implications
                                  • Figure 10: Smart concept on Shanghai CES 2018
                              • The Market – What You Need to Know

                                • Chinese car rental and time sharing market will double in five years’ time
                                  • Time sharing market grows much faster than car rental market
                                    • Growing tourist market, changing attitudes towards car ownership and government policies contribute to the increase
                                    • Market Size and Forecast

                                      • Time sharing market is growing much faster than car rental market, but its market value is still insignificant
                                        • Figure 11: Car number and growth rate of rental car and sharing car in China, 2012-17
                                        • Figure 12: Market value of car rental and time sharing in China, 2012-17
                                      • Double the market value in five years’ time
                                        • Figure 13: Best- and worst-case forecast of the market value of car rental and time sharing, China, 2013-23
                                    • Market Drivers

                                      • Rapid growth of the domestic tour market
                                        • Renting cars may have the ability to replace private ownership among the younger generation
                                          • Figure 14: Mention rates on selected attitudes towards car ownership, by generation, December 2017
                                        • Government restriction on distribution of local plate
                                        • Key Players – What You Need to Know

                                          • Intense competition among first tier companies
                                            • Luxury models and free rental deposit as strategies
                                              • Improving convenience level is the main innovation trend
                                              • Market Share

                                                • Car Inc., eHi and Shouqi account for top three market share of the car rental companies
                                                  • Figure 15: Market share of car rental companies, by value, 2015-17
                                                • EvCard, GoFun and Pandauto account for 70% of time sharing market together
                                                  • Figure 16: Market share of time sharing companies, by value, 2015-17
                                              • Competitive Strategies

                                                • Providing luxury models
                                                  • Free rental deposit
                                                    • Cooperation with car manufacturers
                                                    • Who’s Innovating?

                                                      • Pick-up and return on customers’ site
                                                        • Licence translation service
                                                          • Autonomous driving
                                                            • Aerial Vehicle
                                                            • The Consumer – What You Need to Know

                                                              • Domestic self-drive tour and visiting family or friends are the top two renting purposes
                                                                • B2C and agent are the most welcomed renting platforms for consumers
                                                                  • Convenience is a key factor for consumers’ satisfaction
                                                                    • Automatic recommendation and on-site pick-up and return are the top two factors to make consumers to feel premium
                                                                    • Car Renting Purposes

                                                                      • Domestic self-drive tour and visiting family and friends are the most mentioned renting occasions
                                                                          • Figure 17: Car renting purposes, February 2018
                                                                          • Figure 18: Car renting purposes, by marital status, February 2018
                                                                        • Married couples with children rent more than those who live with parents
                                                                          • Figure 19: Renting for domestic self-drive tour, by living situation, February 2018
                                                                        • Consumers with low monthly income tend to rent more to visit family and friends
                                                                          • Figure 20: Purpose of renting car, by monthly personal income, February 2018
                                                                          • Figure 21: Purpose of renting car, by education level, February 2018
                                                                        • Different groups of people rent cars for different purposes
                                                                          • High penetration rate in the tier one cities
                                                                            • Figure 22: Car renting purposes, by city tier, February 2018
                                                                          • Renting for overseas tour is welcomed by consumers with postgraduate or above degree
                                                                            • Figure 23: Renting for overseas self-drive tour, by education, February 2018
                                                                        • Preference for Car Rental Platforms

                                                                          • B2C platform is the most used platform, followed by agent, C2C and time sharing platforms
                                                                            • Figure 24: Most used car rental platform in the past 12 months, February 2018
                                                                          • Older males prefer B2C and younger females like agent platforms
                                                                            • Figure 25: Frequency of using car rental platforms in the past 12 months, by gender and age, February 2018
                                                                          • B2C platforms are more welcomed in tier one cities and agent platforms are more welcomed by tier two and three consumers
                                                                            • Figure 26: Car rental platforms usage frequency, by city tier, February 2018
                                                                          • The higher the education, the more likelihood of using B2C and time sharing platforms
                                                                            • Figure 27: Car rental platforms using frequency, by education, February 2018
                                                                        • Important Factors in Choosing Rental Cars

                                                                          • Divided opinions on choosing rental cars
                                                                            • Figure 28: Important factors in choosing rental cars, February 2018
                                                                          • It is convenience that matters
                                                                            • Figure 29: Important car renting factors – TURF Analysis, February 2018
                                                                          • Tier one cities like new car models and tier two cities like simple renting process and value for money
                                                                            • Figure 30: Important factors in choosing rental cars, by city tier, February 2018
                                                                          • C2C platform users look for one-stop solution, new models and search engines ranking
                                                                            • Figure 31: Important factors on choosing rental car, by rental platforms used, February 2018
                                                                        • Importance of Rental Car Features

                                                                          • Low rental price, sufficient seats and built-in GPS are the top three important features for consumers
                                                                            • Figure 32: Important levels of rental cars’ features, February 2018
                                                                          • Different genders have different preferences
                                                                            • Figure 33: Gap between female and male renters on the preferred car rental features who claim “it is very important”, February 2018
                                                                          • New energy car market is in tier one cities and tier two cities prefer fancy models with low prices
                                                                            • Figure 34: Gap between the claim rates of tier one and tier two city respondents on the preferred car rental features that are ‘very important’, February 2018
                                                                          • Consumers who rent for overseas trip look for advanced cars
                                                                            • Figure 35: Claim rates on selected rental car features that are ‘very important’, by rental purposes, February 2018
                                                                        • Features of Premium Car Renting Experience

                                                                          • Divided opinions on premium car renting experience
                                                                            • Figure 36: Features of premium rental car experience, February 2018
                                                                          • Automatic recommendation and on-site services are key to premium car renting experience
                                                                            • Figure 37: Features for premium rental car experience – TURF analysis, February 2018
                                                                          • On-site pick-up and return is important for consumers from big cities to feel premium
                                                                            • Figure 38: On-site pick-up and return services, by city, February 2018
                                                                          • Different renting purpose leads to different perceptions of premium
                                                                            • Figure 39: Features for premium rental car experience, by renting purposes, February 2018
                                                                        • Attitudes towards Car Renting

                                                                          • General positive attitudes towards car renting
                                                                            • Figure 40: Attitudes towards car renting, February 2018
                                                                          • Four types of car renters
                                                                            • Figure 41: Attitudes towards car renting, February 2018
                                                                          • Experience seekers
                                                                            • Figure 42: Hard features important when choosing rental cars, by car renter type, February 2018
                                                                            • Figure 43: Soft features important when choosing rental cars, by car renter type, February 2018
                                                                          • Order pursuers
                                                                            • Never-the-pilots
                                                                              • Figure 44: Percentage of four types of consumers on agent platform usage, February 2018
                                                                            • Buddhist-style renters
                                                                            • Meet the Mintropolitans

                                                                              • Mintropolitans fancy luxury car models with sufficient seats
                                                                                • Figure 45: Car renting purposes, by consumer classification, February 2018
                                                                                • Figure 46: Claim rates on selected rental car features that are ‘very important’, by consumer classification, February 2018
                                                                            • Appendix – Market Size and Forecast

                                                                                • Figure 47: Total market value of car hire, 2013-23
                                                                            • Appendix – Methodology and Abbreviations

                                                                              • Methodology
                                                                                • Fan chart forecast
                                                                                  • Abbreviations

                                                                                  Car Hire - China - July 2018

                                                                                  US $4,460.00 (Excl.Tax)