Brisk business for car rentals over Chinese New Year period

brisk rental car business during the Chinese New Year period in Singapore: This year, Chinese New Year travel is in full swing, and rental cars appear to be a popular mode of transportation. There are no restrictions imposed by the pandemic.

According to two well-known rental car companies, there is so much demand for vehicles that they are practically out of them.

Ace Drive reported that business has been “overwhelming,” with all 240 of its vehicles fully booked nine days before Chinese New Year. According to April Koh, executive director of the company, the types of cars booked range from standard Japanese automobiles to “exotic” two-door automobiles.

She described this as “exceptional” in comparison to previous years.

She stated, “In the past, we had vehicles available for rent all the way up to the eve; however, this year we are completely sold (out).”

This despite the fact that more vehicles were registered prior to the holiday season.

“We certainly do not have enough to service the demand, which is why we have been constantly registering vehicles, at least 60 units over the last few months, just to cater to the demand this Chinese New Year,” she stated. “We certainly do not have enough to service the demand.”

She added that rental terms are also getting longer: instead of the usual two to three days, more than 60% of its cars have been rented for more than a month.

According to Ms. Koh, the company had to turn down hopefuls who showed up at the last minute looking for cars.

Demand that is overwhelming Another business, GetGo, has experienced a similar uptick. It has doubled its fleet from last year to include more than 2,000 vehicles on the island.

On the first day of Chinese New Year, all of its vehicles had been reserved. According to the CEO of the company, Toh Ting Feng, utilisation is at 90% during the day across the holiday’s four days.

He called the need “overwhelming.” He added, “The average number of booked hours per car is also higher than usual.” He stated, “We still see that we don’t have enough cars for CNY despite us growing quite aggressively — I think from last year to this year, we probably added over 1,000 cars to our fleet.”

We will undoubtedly continue our efforts to expand because “we believe in gradually and organically growing our fleet in line with the demand.”

He went on to say that the company is “steadily progressing” toward reaching 10,000 cars in its rental fleet by 2030.

Mr. Forbes Chang, one of the renters, booked a Toyota Sienta Hybrid with Ace Drive for the purpose of convenience.

To transport his family for a week this year during their visits for Chinese New Year, he selected a larger vehicle. I now have two seniors living with me and a newborn in my family. My vehicle absolutely requires at least five or seven seats. He stated, “I don’t want to waste my time booking a Grab or a cab.”

Mr. Danny Goh, who is based overseas but returned home to see family over the holidays, stated in a similar manner that, for convenience, he typically rents a car during the holidays.

He noted that while there are still options for public transportation, they tend to be crowded.

This year is special because it is the first time in three years that I have returned to Singapore since the COVID lockdown. Therefore, I am very much looking forward to spending this Chinese New Year with my friends and family,” he stated.

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