Car rental mar­ket revs up be­fore Teát hol­i­day

Viet Nam News - - BUSINESS -

Traàn Ñình Duy, an owner of a car rental com­pany on Traàn Khaùt Chaân Street, said his com­pany had 40 cars sized from four seats to 16. All small pas­sen­ger cars had been or­dered one month ago, and even all the large pas­sen­ger cars – which were rented to travel to pago­das on the hol­i­day – had been booked.

HAØ NOÄI — The car rental mar­ket has be­come very ac­tive in the cap­i­tal city as the Teát (Lu­nar New Year) hol­i­day ap­proaches.

A small sur­vey by the Viet­nam News Agency of rental car streets of Haø Noäi showed the mid-range seg­ment of pas­sen­ger cars with four to seven seats is nearly com­pletely sold out al­most one month be­fore Teát. If cus­tomers want to rent a car, they will have to com­mit to rent­ing it for the en­tirety of the break, which lasts from Fe­bru­ary 2 to 10.

On rental car streets in­clud­ing Traàn Khaùt Chaân, Thaùi Thònh, Xaõ Ñaøn and Hoaøng Mai, the short­age of cars and in­creas­ing de­mand have pushed prices up 20-30 per cent com­pared to nor­mal rates, touch­ing VNÑ7 mil­lion-VNÑ25 mil­lion (US$301-$1,075) per car, de­pend­ing on the model. The dif­fer­ence in price be­tween man­ual and au­to­matic trans­mis­sion cars ranges from VNÑ100,000 to VNÑ200,000 per day.

Al­though rental prices have in­creased, there is not enough stock of pop­u­lar models such as the Honda CR- V and Toy­ota For­tuner.

Rather than rais­ing prices, sev­eral rental com­pa­nies have lim­ited the num­ber of kilo­me­tres each cus­tomer may drive. If a cus­tomer ex­ceeds the limit, he or she will have to pay more money.

Nguyeãn Thanh Höông, Di­rec­tor of the Tourism and Trans­port Ser­vice Com­pany Ltd in Hai Baø Tröng Dis­trict, said prices were up be­cause of in­creased de­mand.

“The cus­tomers are ex­cited about seven- seat cars, which have seen rental prices in­crease by be­tween VNÑ200,000 and VNÑ300,000 per day,” Höông said.

Five-seat models such as the Morn­ing AT, Huyn­dai i10, Vios AT, Kia Cer­ato AT, Mazda3 AT, Mazda CX 5 AT and Toy­ota Camry have rental prices from VNÑ800,000 to VNÑ1.4 mil­lion per day. Those with seven seats such as the In­nova AT, Kia Sorento A and For­tuner AT are priced from VNÑ1.2 mil­lion to VNÑ1.4 mil­lion.

Ñaëng Tuaán Anh, a Hanoian liv­ing on Buøi Ngoïc Döông Street, said he be­gan seek­ing in­for­ma­tion about car rental ser­vices early last month. “It’s quite early but the rental price will be more ex­pen­sive in the last days of the lu­nar year.”

“Al­though the cost dur­ing the hol­i­day is higher than that of nor­mal days, I still de­cided to hire a rental car be­cause it is more con­ve­nient for my fam­ily of four, in­clud­ing two kids,” said Anh. “Trav­el­ling by pas­sen­ger car dur­ing the hol­i­day is so crowded, it makes us tired.”

Höõu Cöôøng, a res­i­dent of Hueá Street, com­plained the rental price of small sedans like the Kia Morn­ing and Hyundai i10 was usu­ally the low­est, but it had nearly dou­bled to VNÑ1 mil­lion per day.

“Most com­pa­nies now have high-end cars avail­able such as the Ford Fo­cus at VNÑ13 mil­lion for 10 days; the Vios and In­nova at VNÑ15 mil­lion each; and the Madza 6 and Kia Op­tima for VNÑ25 mil­lion each,” said Cöôøng “The Teát hol­i­day has nine days off but we are re­quired to rent for 10 days. The price is too high; it’s very waste­ful.”

Traàn Ñình Duy, an owner of a car rental com­pany on Traàn Khaùt Chaân Street, said his com­pany had 40 cars sized from four seats to 16. All small pas­sen­ger cars had been or­dered one month ago, and even all the large pas­sen­ger cars – which were rented to travel to pago­das on the hol­i­day – had been booked.

“Dur­ing the hol­i­day, the rental cars must run all day with no time for main­te­nance, so cus­tomers need to check their cars care­fully when re­ceiv­ing them in or­der to en­sure safety and com­pen­sa­tion if there is a prob­lem,” Duy said. — VNS

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