- Business
- CAR Inc. is a leading auto mobility service provider in China primarily engaged in car rental and fleet rental operations. The company offers a comprehensive range of services including short-term car rentals, long-term vehicle rentals, and financial leasing services to both individual consumers and corporate clients. Additionally, CAR Inc. operates a used car sales business selling vehicles from its rental fleet. Founded in 2007 and headquartered in Chaoyang, Beijing, the company operates directly in over 70 cities in Mainland China and has a franchise network extending to more than 200 lower-tier cities. Its fleet size is the largest in China, surpassing the combined fleets of its nearest competitors.
In terms of recent developments, CAR Inc. completed its privatization in 2021 led by MBK Partners, who acquired the company with a valuation of approximately $1.1 billion. Since then, the company has focused on upgrading its fleet and enhancing its product offerings, including launching the industry's first “Rental Pass” targeting the Generation Z market. CAR Inc. has also strengthened strategic cooperation with third-party comprehensive tourism service platforms to broaden its mobility solutions. Furthermore, the company completed a significant note repurchase totaling nearly $100 million in late 2024 to improve its financial structure.
CAR Inc. serves the ground transportation industry with a product lineup that includes vehicle rental services under various terms and financial leasing solutions. Its target market comprises individual consumers seeking personal mobility as well as corporate clients requiring fleet management. The company's operations are supported by a robust technology platform offering mobile-enabled, on-demand chauffeured car services in multiple cities. Key shareholders include Hertz, Warburg Pincus, and affiliates of Legend Holdings, underpinning a strong strategic and financial foundation for ongoing growth and innovation in the Chinese auto rental market.