Car rentals up as Tet demand goes into overdrive
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Car rental services in Hanoi are expected to take advantage of the surge in demand before the Lunar New Year to push up rentals.
Nguyen Kieu Giang of Hanoi Trans said the rates are likely to go up by 30-50 percent 10 days ahead of Tet, which falls on February 3 this year, peaking a day before the New Year.
“Cold weather in Hanoi and the long holiday will see people making long trips. A serious shortage of train and bus tickets at this time will also push up demand for cars.”
The owner of a car rental firm in Hanoi, who wished to remain unnamed, said many companies have begun to cash in on the demand.
“They [car hire services providers] turn down many demands for cars saying they have no vehicles left to hire out. But they will hire them to those who pay higher.”
Duc, a transport operator on Tran Quang Khai Street, said the most popular cars are Kia Morning, Hyundai Getz, Daewoo Gentra and Lacetti, and Ford Laser 1.6.
Their rentals are now VND500,000-700,000 (US$25-35) a day, and will increase to VND800,000-1 million before Tet, he said. “The highest rate last year was only VND700,000.”
Trinh Huu Tung, director of Hoa Mai Tourist and Trading JSC, said demand has increased by 30 percent this year, and rentals by 10-15 percent.
