India’s Car Rentals, Auto Lease Prices Rise by 15% in August 2018
Car rental prices in India have increased by 15 percent in August to the highest level in several years.
According to the latest report from Car Renters India, the prices of cars in the country have gone up by 15.2 percent year-on-year.
The report showed that the average cost of a car rental in India was Rs. 3,000 ($735) in August, up from Rs. 2,800 ($732) in July.
India is India’s third-largest car rental market and the fourth-largest in the world.
India’s car rental industry is the second largest after the United States, with 2.9 million rental units in the year-end report.
The market has grown in recent years due to the surge in demand from the booming economy.