As the summer vacation comes to a close with the approach of the back-to-school season, car rentals have emerged as a popular choice for travelers seeking unique and convenient travel experiences. According to DiDi Car Rental, the demand for rental cars this summer has surged to nearly 1.5 times compared to the same period last year, with long-distance self-drive tours becoming a new growth point in the market.
Rental Demand Skyrockets
The report highlights that cities such as Chengdu, Beijing, Guangzhou, Urumqi, and Xi’an have topped the list for the highest car rental demand, accounting for 18% of the total orders nationwide. However, it is the新兴 coastal tourism cities of Weihai, Shantou, and Quanzhou that have stolen the show with an order growth rate exceeding 22%, leading the national trend.
This surge in demand can be attributed to several factors. The rising popularity of self-drive tours, the convenience offered by rental cars, and the increased interest in exploring new destinations have all contributed to the heightened demand. Moreover, the release of the hit video game Black Myth: Wukong has drawn a significant number of destined ones to Shanxi Province, boosting the car rental demand in the region by a staggering 58%. Cities like Datong, Jinzhong, Shuozhou, and Changzhi have seen particularly notable growth, with order increases of over 70%.
Revenue Growth and Consumer Preferences
The robust demand has translated into substantial revenue growth for rental car agencies. Compared to the same period last year, the average revenue for rental car stores has increased by 20%, with stores in popular tourist cities seeing even more significant growth, exceeding 40%.
Interestingly, the post-00s generation has shown a particularly strong demand for car rental services, with a year-on-year increase of 70%. Factors such as driving pleasure, cost-effectiveness, and spacious interiors are the primary considerations for this demographic when choosing a vehicle. Models like the Tank 300, Sentra, Hongqi EQM5, Jeta VS5, and Tesla Model 3 have proven to be the most popular among the post-00s. Meanwhile, the GL8 continues to be the preferred choice for family trips.
Enhanced Services and Customer Satisfaction
In response to the increased demand and to provide a more efficient and worry-free travel experience, DiDi Car Rental has introduced several保障 services, including 无忧退 (无忧退款), 无车赔 (compensation for no available cars), and 租车保 (rental car insurance). These initiatives have led to a 32% increase in customer satisfaction, with over 15% of users choosing to rent again through the platform.
In July, DiDi Car Rental also launched the DiDi Select channel, offering users better car models and services. Within just two months, over 40% of users have chosen to book through this new channel.
Preparing for Upcoming Holiday Peaks
With the Mid-Autumn Festival and National Day holidays approaching, the big traffic + local rental model is expected to remain popular. In preparation for the market demand, DiDi Car Rental has partnered with train and air ticket services to offer cash discounts, free acceleration packs, and refund upgrades, providing more cost-effective and convenient services for holiday travelers.
Conclusion
The summer of 2024 has been a remarkable period for the car rental industry, with a significant increase in demand and revenue. The strong performance of emerging coastal cities like Weihai, Shantou, and Quanzhou indicates a shift in travel preferences and a growing trend towards self-drive tours. As the industry continues to evolve, companies like DiDi Car Rental are focused on enhancing customer experience and meeting the diverse needs of travelers. With the upcoming holiday season, the car rental market is set to remain robust, reflecting the dynamic nature of China’s travel industry.
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