Beijing, July 29, 2014 - (ACN Newswire) - China Auto Rental Inc., China's leading car rental service company, announces today that they have changed their English name to CAR Inc. The Chinese name of the company remains unchanged.
According to Roland Berger Strategy Consultants, CAR far exceeds its competitors across various operating and financial metrics, including fleet size, network coverage, market share, and brand awareness.
Commenting on the change of English name, Charles Lu, Chairman and Chief Executive Officer of CAR, said, "As we continuously strengthen our leadership position in car rental services in China, CAR is also committed to continuous product and technological innovation and expansion into more areas of the industry chain. Compared to the mature European and the North American markets , China's auto aftermarket is still at its early stage. Our company has laid a strong foundation in areas such as car sharing, used car sales, car leasing and repair and maintenance, and we firmly believe in the growth potential of these fields. Our new English corporate name is not merely a composition of the initials of the former name, but it reflects our confidence and determination in our development in China's auto aftermarket."
CAR boasts clear competitive advantages both online and offline, for example its national coverage and store's proximity to customers, high brand awareness and value, strong technological expertise, large customer base and stable management team. Furthermore, as the largest single car buyer in China and with the largest car fleet size, CAR has established long-standing and mutually beneficial collaboration with car manufacturers. CAR is well positioned to achieve more successes in the new areas of auto aftermarket in China.
About CAR Inc.
CAR Inc. is the largest car rental company in China, offering comprehensive car rental services including short-term rentals, long-term rentals and leasing. CAR Inc. is the clear market leader in terms of fleet size, revenue, network coverage and brand awareness. The Group's brand "CAR Inc.," is the most recognized and trusted car rental brand in China. As of March 31, 2014, the Group had an extensive network of 751 directly operated service locations in 69 major cities in all provinces in China except Tibet, with total fleet comprised of 55,403 vehicles. The Group provides a superior car rental experience by offering customers a wide vehicle selection, excellent vehicle condition, a "hassle-free" rental process and 24/7 service. In May 2013, the Group successfully consolidated a global leader in the car rental industry, the Hertz China operation and became the exclusive business partner of Hertz in China. Additional news and information about the company is available at http://www.zuche.com/.
Source: CAR Inc.
Contact:
Strategic Financial Relations Limited Veron Ng Tel: (852) 2864 4831 Email: veron.ng@sprg.com.hk Brenda Chan Tel: (852) 2864 4833 Email: brenda.chan@sprg.com.hk Keris Leung Tel: (852) 2864 4863 Email: keris.leung@sprg.com.hk
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