While taking my occasional amble through forthcoming IPOs at http://www.nasdaq.com/markets/ipos/ I noticed that "China's Leading Auto Rental Service Provider", China Auto Rental, are planning their IPO. They claim to be: the largest car rental company in China, commanding a leading position in the industry as measured by fleet size, network coverage and number of customers, according to Roland Berger. We also command the largest market share in terms of revenue in China's car rental marketThey say we are the first and only car rental company with a rental fleet of more than 10,000 vehicles in China's nascent but fast-growing car rental industry. Our fleet, comprising 25,845 vehicles covering most of the popular models in China, was as large as the aggregate fleet size of the next eight largest car rental companies and over three times that of the second largest car rental company in China as of December 31, 2011.This is probably one to dig into. Any thoughts?http://en.zuche.com/Rgds,EmmetGG Home Fool
Haven't dug into this, but my guess is that elsewhere large car rental companies have a lot of competition, not much differentation and as a result, not very interesting companies to own. As an industry, reminds me of airlines.
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