Reporters visited many car rental companies in the central urban area of our city and found that "one car is hard to find" has become a common phenomenon in the Spring Festival car rental market. All car rental companies in our city have experienced varying degrees of tight car sources and continuous reservations.
The form has changed with monthly rentals as the main option
In addition to the supply failing to meet demand, the car rental market during the Spring Festival also shows characteristics different from usual. Reporters investigated many car rental markets in the central urban area of our city and found that most customers choosing to rent cars during the Spring Festival belong to long-term rentals, and monthly car rentals are very common.
"The company usually focuses on short-term car rental business, but almost all the business during the Spring Festival is monthly car rentals," said Hu Xing, manager of Changshun Car Rental Company. Monthly car rentals show significant price advantages. The cost of renting a car for a month only accounts for 60% of the cost of renting daily for 30 days. Some responsible persons of rental companies also said that if there were more short-term car rental customers during the Spring Festival, the company would need to assign personnel to be on duty for collecting and renting cars, which would increase the company's operating costs invisibly. Therefore, some rental companies intentionally guide consumers to rent cars monthly to save expenses.
During the investigation process, reporters also found that affected by the Spring Festival car rental craze, the short-term rental businesses such as wedding car rentals and business car rentals provided by some car rental companies are difficult to continue, resulting in a large gap in the short-term car rental market.
Supply falling short leads to a 40% price hike
The contradiction between supply and demand inevitably causes fluctuations in commodity prices. During the Spring Festival, while the car rental market in our city faces a situation where supply fails to meet demand, the vast majority of car rental companies in the central urban area have quietly raised their prices, with an increase of up to 40%.
It is understood that although the scale of the car rental market in the central urban area of our city is not large, the total volume is quite substantial, and the range of available car models is relatively diverse. The main models include Audi A6, Dongfeng Nissan Teana, Honda Accord, Mazda 6, Buick Regal, Buick Business, Passat, Buick Excelle, Hyundai Elantra, and Rui Feng Business, ranging from economy sedans to high-end business cars. The rent varies slightly according to the model and price of the car. Zhang Jing, the person in charge of Xincheng Car Rental Company, revealed to reporters that regardless of the model, all have seen varying degrees of price increases during the Spring Festival. Taking the Hyundai Elantra, which normally rents for 200 yuan per day, as an example, the daily rent during the Spring Festival rises to about 240 yuan, and some car rental companies even reach up to 280 yuan.
Enlightenment for planning ahead next year
From the perspective of market rules, supply failing to meet demand means there is still a market gap. There are many places in our city's car rental market that can be explored and cultivated. Looking back at the "heat" of car rentals during the Spring Festival, preparation and planning ahead are key.
The large loss of "franchise cars" by various car rental companies during the Spring Festival greatly reduced the number of cars available in the holiday market. Industry insiders suggest that in response to the current situation of increasing demand and decreasing supply, car rental companies can sign agreements in advance with "franchise car" owners to minimize losses caused by temporary car withdrawals by "franchise car" owners.
In addition, practitioners should start from the consumption habits of the main target groups during holidays, understand the consumption habits of consumers during the Spring Festival, plan marketing activities in advance, reasonably arrange the structure ratio of short-term car rentals and whole-month car rentals, and ensure market supply.
Hu Xing, manager of Changshun Car Rental Company, introduced that for consumers, due to the limited car sources in the local car rental market, it is necessary to make reservations in advance for car rentals next Spring Festival, prepare relevant procedures in advance, and meet the needs of the time.