Cycle & Carriage enters car rental business in Singapore, forms partnership with Go-Jek

SINGAPORE — Cycle & Carriage Singapore said on Thursday (July 25) it has expanded into the car leasing segment, in response to changing market demands and competition.

Cycle & Carriage's new leasing arm will provide a range of options from daily rentals to long-term car rentals of up to three years, the automotive group said in a press release.

The leasing arm will carry brands represented by Cycle & Carriage in Singapore, including Kia Cerato, Kia Stonic, Kia Niro Hybrid and Mitsubishi Attrage. Rentals start at S$57 a day.

As part of its expansion plans, Cycle & Carriage will lease the cars to private-hire drivers. It will also lease and manage fleets of cars for corporate clients and ride-sharing industry players, starting with a partnership with ride-hailing operator Go-Jek, it said.

Private-hire drivers who choose to lease through Cycle & Carriage will benefit from "one-stop" support as well as access to a servicing network to provide for "quicker turnarounds" for car servicing, the release said.

"Our deep automotive knowledge and extensive network well positions Cycle & Carriage Singapore to be ready for the fast-expanding mobility market and remain competitive by serving our customers’ needs," said Cycle & Carriage Singapore’s managing director Eric Chan. 

“Car leasing is the latest development and business expansion for Cycle & Carriage Singapore. This reflect our drive to stay ahead and be competitive in the automotive industry by responding dynamically to changing market demands.” CNA

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