Indian Automobile Industry is one of the largest industry in the world. Last 5 years were a breeze for the industry. 2013 was the year for automobile and e-commerce industry to bring the change in India. Self-drive focused car rental companies such as Myles entered India in a completely new domain. An individual can rent vehicles by hours or by days and can drive all the way they want. All this is possible as an average Indian is becoming more aware. Better service at a reasonable price is what Indians need. Thus the demand for self-drive cars is rising at a prompt pace. Furthermore, a person can rent hatchback, sedan, MUV, SUV or luxury-end vehicles based on his/her needs. Likewise, the availability of many options, hassle-free drive and reasonable price are the pulling factors for the car rental industry in India.
Why Self-Drive Cars?
With a vision to make India a smarter country, car-rental companies like Myles stepped into the industry. With no doubt, the Indian market is different in every trait. With young minds market is getting more innovative and acceptable to change. Of course, the same trend goes to owning and renting the cars. The interest of young minds is swelling in self-drive rental cars. As a matter of fact, it is a better alternative to own a car and to maintain. Renting a self-drive car is a cost-effective, hassle-free, convenient and more flexible option than to own a car. One can rent any segment of the car depending on the need. An average Indian has hatchback in his/her garage and wants to have an SUV for adventurous or weekend trips. Such flexibility and freedom capture the interest in renting self-drive cars.
Myles Being the Market Leader
The industry is highly unorganized and Myles is the first player in the market. Myles offer services in 21 cities in India covering almost every Tier-I and Tier-II cities. Myles offers a higher variant of the car and offers much more options in their fleet than their competitors. Myles services are available at more number of locations with no capping on the number of kilometres. No capping on kilometres allows users to travel anywhere. Myles has 38+ different models, all higher variants at 250+ locations in 21 cities. In addition, Myles fleet includes compact-SUVs, sedans, hatchback, MUVs, SUVs, luxury vehicles and electric vehicles. Myles a stronger user base of the age group of 24-40 in urban cities including NRI, foreign tourists, business commuters and family people. Consequently, positive response led Myles to expand to new markets or cities in India.
What More Myles Should Offer?
To include furthermore miles in their business, Myles needs to change. There is a huge demand for self-drive cars among college students. Myles should reduce the minimum age to rent a car to 18 or 20. Speed limit must be modified based on the customer visit. Many times speed may exceed 100kmph (speed limit of Myles cars) on the highway. They should offer an option to the user to pay deposit amount at the time of booking also. Right now users have to make a different transaction to pay security deposit amount.
Is Self-Drive Rental Cars Value For Money?
Of course, renting self-drive cars offer much more value than buying and maintain a car. One can rent a car based on their needs and moods. The option of home delivery of car also adds to more flexibility and convenience. In addition, services like 24*7 roadside assistance and GPS system assures customer safety. Car of an average Indian rests in his/her garage for more number of days than the days he/she use the car. Owning a car comes with maintaining the car. The customer has to get insurance, regular servicing and cope up with the depreciation of the cost of a car. In the long run, renting a self-drive car will be more pocket-friendly and value for money as compared to own a car.Tags: Craft Driven, Craft Driven Market Research, market research, rental cars, self-drive, startup