SINGAPORE – Car rental and car-sharing companies here are seeing brisk business during this Chinese New Year period, despite consumers having to pay more than in 2022.
Its executive director April Koh attributed the demand to various factors. For example, many potential car buyers have put their plans on hold amid the current high certificate of entitlement and loan interest rates. “We believe that this is mainly due to the lifting of the Covid-19 measures – no visitation limits and the opening of the Malaysian border,” said the company’s assistant retail manager Annie Loh, adding that the current demand is similar to pre-Covid times.
“This is largely attributed to more Singaporeans returning home to celebrate this festive occasion after the lifting of border restrictions. As there are no group size limits for gatherings this year, most families are likely to carry on with visiting plans as per what they did before Covid,” she said.
Popular Rent A Car by Tribecar has also raised the pricing of its 7-day car rental package to between $738 and $1,488 before goods and services tax from Jan 20 to Jan 26.