Econ
Vietnam’s car rental market potential remains huge: Enterprise Rent-A-Car
Vietnam is an increasingly important business destination and access to high end transport has been an untapped market potential.
A representative of Enterprise Rent-A-Car Vietnam said the country’s rental car market remains huge but the service is inadequate, citing it as a reason for the US largest car rental provider Enterprise Holding to open its business in Vietnam.
The representative told local media that the Vietnamese market is on the rise, thanks to strong growth momentum of foreign direct investment in at least 10 years, leading to an increasing influx of expats.
Moreover, Vietnam’s middle class, especially the young generation has new lifestyle, for which they now focus on the quality of life and experience by renting a car, instead of spending a fortune to buy a luxury car.
On November 29, Enterprise Holding announced that its Enterprise Rent-A-Car brand is now available for the first time in Vietnam
The announcement followed the appointment of local company MP Logistics as Enterprise’s franchise partner last year. The launch is part of Enterprise Holdings’ goal to expand access to its car rental services throughout Asia and the Pacific, said the company in its statement.
The Enterprise Rent-A-Car business in Vietnam will operate from Ho Chi Minh City. The strategy for the first year will be to grow a base of corporate customers by focusing on MP Logistics’ current clients and the employees of multinational companies with operations in Vietnam.
The initial emphasis will be on long-term rentals with a chauffeur.
MP Logistics estimates that international customers who live and work in Ho Chi Minh City will typically rent a vehicle from one to five years. The vehicles will be driven by local drivers, which may be necessary for business customers who don’t have experience driving on Vietnamese roads.
As the business grows, coupled with the integration of reservation technology, Enterprise Holdings will look to introduce its other world-leading car rental brands,which are National Car Rental and Alamo Rent-A-Car.
It will also expand its services to include short-term, chauffeur-driven options, self-drive rentals and leisure hire at popular tourist destinations, such as Da Nang.
“Customers come to Enterprise for excellent customer service and exceptional value. They want the same experience whether they walk into a branch in Ho Chi Minh City, London or Dallas,” said Peter Smith, vice president of Global Franchising at Enterprise.
“Vietnam is an increasingly important business destination and access to high-quality transport is a vital part of the equation,” he added.
Illustrative photo.
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Moreover, Vietnam’s middle class, especially the young generation has new lifestyle, for which they now focus on the quality of life and experience by renting a car, instead of spending a fortune to buy a luxury car.
On November 29, Enterprise Holding announced that its Enterprise Rent-A-Car brand is now available for the first time in Vietnam
The announcement followed the appointment of local company MP Logistics as Enterprise’s franchise partner last year. The launch is part of Enterprise Holdings’ goal to expand access to its car rental services throughout Asia and the Pacific, said the company in its statement.
The Enterprise Rent-A-Car business in Vietnam will operate from Ho Chi Minh City. The strategy for the first year will be to grow a base of corporate customers by focusing on MP Logistics’ current clients and the employees of multinational companies with operations in Vietnam.
The initial emphasis will be on long-term rentals with a chauffeur.
MP Logistics estimates that international customers who live and work in Ho Chi Minh City will typically rent a vehicle from one to five years. The vehicles will be driven by local drivers, which may be necessary for business customers who don’t have experience driving on Vietnamese roads.
As the business grows, coupled with the integration of reservation technology, Enterprise Holdings will look to introduce its other world-leading car rental brands,which are National Car Rental and Alamo Rent-A-Car.
It will also expand its services to include short-term, chauffeur-driven options, self-drive rentals and leisure hire at popular tourist destinations, such as Da Nang.
“Customers come to Enterprise for excellent customer service and exceptional value. They want the same experience whether they walk into a branch in Ho Chi Minh City, London or Dallas,” said Peter Smith, vice president of Global Franchising at Enterprise.
“Vietnam is an increasingly important business destination and access to high-quality transport is a vital part of the equation,” he added.
