汽车租赁行业报告(英文).docx

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1、INDUSTRY OverviewofChina'scarrentalandcarserviceindustryMarketoverview        Carrentalmarket. Carrentalsrefertorentalofavehicledrivenbythecustomerforaspecifiedperiodoftime.Thecarrentalmarketprimarilyconsistsoftwotypesofserviceofferings:(i) short-termcarrentals,whichhaveatermoflesst

2、hanoneyearandareprimarilytargetingindividualcustomers,and(ii) long-termcarrentals,whichhaveatermofoneyearorlongerandareprimarilytargetingcorporateclients.        Carservicemarket. Carservicesrefertorentalofavehicleaccompaniedbyadriverforaspecifiedperiodoftime,whichprimarilytargetcor

3、porateclients.        China'scarrentalandcarserviceindustryisstillatanearlystageofdevelopmentandhasexperiencedrapidgrowthinrecentyears.AccordingtoFrost &Sullivan,thetotalmarketsizeofChina'scarrentalandcarserviceindustrygrewfromRMB10.7 billionin2009toRMB29.7 billionin2013,representin

4、gaCAGRof29.1%.Frost &SullivanprojectsthatthetotalmarketsizeofChina'scarrentalandcarserviceindustrywillcontinuetogrowtoRMB56.3 billionby2017,orrepresentingaprojectedCAGRof17.3%from2013to2017.Suchgrowthrate,however,aswellasotherindustryprojectionsmadebyFrost &Sullivananddisclosedinthi

5、sprospectus,arenotguaranteed.        ThetablebelowsetsforththetotalmarketsizeofChina'scarrentalandcarserviceindustrybyrevenuesfortheperiodsindicated:TotalmarketsizeofChinacarrentalandcarserviceindustrybyrevenues,2009–2017ESource: Frost &Sullivan108-        Whencomparedtocarrentaland

6、carserviceindustryinotherdevelopedmarkets,China'smarkettodayischaracterizedbyrelativelylowpenetrationrateandhighlevelofmarketfragmentation:        Lowpenetrationrate. Thecarrentalandcarservicepenetrationratereferstotheaggregatenumberofrentalandservicevehiclesdividedbytheaggregatenum

7、berofpassengervehiclesintherelevantcountryorregion.AccordingtoFrost &Sullivan,thepenetrationrateisanimportantindicatorofthematurityofacarrentalandcarservicemarket.In2013,thepenetrationrateinChinawas0.4%,whichwassignificantlylowerthanthatintheUnited States(1.7%),Japan(2.6%)andKorea(2

8、.5%),accordingtoFro