Release time: 2014.12.22
July 28, 2014, Beijing – China Auto Rental Inc., a leading car rental service company in China, announces today that the company’s English name has been changed to CAR Inc. The Chinese name of the company remains unchanged.
According to Roland Berger Strategy Consultants, CAR far exceeds its competitors across various operating and financial metrics, including fleet size, network coverage, market share, and brand awareness.
Commenting on the change of English name, Charles Lu, Chairman and Chief Executive Officer of CAR, said, “As we continue enhancing our leadership position in car rental services in China, CAR is also committed to continuous product and technological innovation and expansion into more areas of the industry chain. Compared to the mature markets in Europe and the United States, China’s auto aftermarket is still at its early stage. Our company has achieved clear leadership position in areas such as car sharing, used car sales, car leasing and repair and maintenance, and we firmly believe in the growth potential of these fields. Our new English corporate name is not merely a composition of the initials of the former name, but it reflects our confidence and determination in our development in China’s auto aftermarket.”
CAR boasts clear competitive advantages both online and offline, for example its national coverage and store’s proximity to customers, high brand awareness and value, strong technological expertise, large customer base and stable management team. Furthermore, as the largest single car buyer in China and with the largest car fleet size, CAR has established long-standing and mutually beneficial collaboration with car manufacturers. CAR is well positioned to achieve more successes in the new areas of auto aftermarket in China.