New Delhi: US car-rental firm Dollar Thrifty Automotive Group Inc. is looking to grab 10% of India’s car rental and leasing market by 2010, a senior company official said on Wednesday. The Tulsa, Oklahoma-based company, which owns brands such as Dollar Rent A Car and Thrifty Car Rental, named India’s privately-held travel conglomerate Nijhawan Group as its sole licensee in India.
Nijhawan Group has diversified interest in travel, finance and real-estate business. “10% market share is certainly very achievable for a brand,” Yves Boyer, the firm’s executive vice-president, international, told reporters.
Boyer estimates India’s rental industry at $100 million (Rs410 crore).
Nijhawan Group will first introduce Thrifty in New Delhi, Bangalore and Mumbai with 110 cars.
The group plans to expand the fleet size to 300 by the end of the year, and to service 14 cities within five years.
Nijhawan sees growth in the industry in India being fuelled by higher tourist arrivals and a booming aviation sector.
“The 2010 Commonwealth Games and 2011 cricket World Cup will ensure there is space for everyone,” Arjun Nijhawan, director, Nijhawan group, said.
As part of the tie-up, Thrifty would help the firm in brand-building and also provide logistics services, he added.
Jet Air tied up with Europe’s leading car-rental company Europcar, and German car-rental firm Sixt entered India in partnership with Sona Group. On Tuesday, low-cost carrier SpiceJet said it plans to begin car rental services.
PTI contributed to this story.