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CAR Inc

CAR Inc (CAR) is the largest car rental company in China, with 133,636 vehicles as at 30 September 2018. Short-term rentals (under 90 days) make up most of its revenues; many of its long-term rentals are to its sister company UCAR. In 2018, CAR entered the car sharing market in 16 Tier-1 and 2 cities. This has helped utilise its idle fleet. CAR has 872 service locations across China, targeting transportation hubs, business districts and residential areas in tier 1 and 2 cities, as well as tourist destinations. It has a franchisee network in tier 3 and 4 cities, many of which will start to expire in 2018. Its fleet includes over 100 models of sedans and SUVs, with brands including Buick, VW, Toyota, Kia and Chevrolet. CAR's usually holds its vehicles for around 30-36 months. After that, it sells its used cars to end users, dealers and franchisees, mainly through online bidding and auction platforms. Just over a third of its used vehicles were sold to Maimaiche in 1Q18, the used car platform operated by UCAR. CAR did not disclose the figure in 3Q18. (23 Nov 2018)

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Asia Corporate Recommendations: December 2018

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Asia Corporate Recommendations: July 2018

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