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

Cycle & Carriage Singapore announced its expansion into car rental with a new leasing arm.

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

For more news like this, visit cna.asia.

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Cycle & Carriage car leasing Gojek

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