Carzonrent confident cab rental industry will grow to Rs 25,000 crore by 2020 - Feedback

Despite the noise over diesel and the recent fallout on cabs running on the fuel in the national capital region (NCR), Carzonrent is bullish on the corporate cab rentals segment growing by 15-20% every year to reach a size of Rs 25000 crore in next 3-4 years.

Rajiv Vij, chief executive officer, Carzonrent said, “At present, the corporate cab rentals segment is sized at about Rs 15000 crore, with organized players accounting for 10 per cent of the market . It is estimated that the industry will grow by 15-20 per cent every year to reach a size of Rs 25000 crore in the next 3-4 years, over a third of which at around Rs 10000 crore will be organized. We are targeting a 25 per cent share of the organized corporate cab rentals market.” To this end, Carzonrent has firmed up plans to expand its corporate cab rentals fleet to 30000 vehicles (from the current 6500 vehicles) over the next few years.

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