look news india
Ahmedabad: The luxury car rental market in the country is witnessing a growing demand, especially in big cities like Mumbai, Bengaluru and Delhi. In these cities, executives and young people, especially from tech companies, are increasingly renting expensive vehicles for special occasions and local trips. These young people include millennials and Gen Z, who were born in 2000 or later.
According to the luxury car rental company, bookings on popular routes such as Delhi-Rishikesh, Delhi-Vrindavan and Delhi-Jim Corbett National Park as well as Chandigarh-Manali and Chandigarh-Ladakh have increased by 40% in the current year 2024 (as of April). The percentage has increased compared to last year. This growth is driven by demand from expatriates and foreign tourists looking for ultra-luxury travel experiences.
Mumbai and Delhi are the cities where the highest increase in demand has been seen. It has increased by 35 percent and 40 percent respectively. Other cities include Bengaluru. Here demand has increased by 40 percent. Apart from this, Pune (10 percent) and Udaipur (14 percent) have also seen a good increase in demand. According to the data, there was a huge jump in demand in Jamnagar due to the recent pre-wedding event organized by the Ambani family.
The demand for luxury vehicle bookings varies depending on the season. During the wedding season, the bookings can go up to lakhs, while at other times the number can be less than 10,000. Corporate bookings also increase during the busy season. Around 100 to 150 bookings are received per city per month. Around 170 to 200 bookings have been recorded in Delhi, 150 to 170 bookings in Mumbai, 110 to 125 bookings in Bengaluru.
The total Indian car rental market is valued at around $2.9 billion in 2023 and is expected to reach $3.8 billion by 2028.
