SINGAPORE (July 25): Cycle & Carriage Singapore (C&C), which is 100% owned by parent company, Jardine Cycle & Carriage, has entered into the car leasing segment with the launch of its new car-leasing arm – Cycle & Carriage Leasing.
Cycle & Carriage Leasing will provide a range of leasing options from daily rentals to long-term car rentals of up to three years, which will also be available for private hire drivers to lease. It will also lease and manage fleets of cars for corporate clients.
To start, Cycle & Carriage Leasing has secured a fleet partnership with its first corporate client – on-demand ride hailing operator Go-Jek – marking its foray into the mobility space.
In light of rising demand for private-hire cars and drivers, the group says similar partnerships could be extended to other key players in the ridesharing industry.
The leasing fleet will comprise primarily of brands represented by C&C, namely Kia Cerato, Kia Stonic, Kia Niro Hybrid as well as Mitsubishi Attrage. Other makes will also be made available to provide more options for customers. The cars will be available at rates starting from $57 per day.
Eric Chan, C&C’s managing director for Singapore, says, “Car leasing is the latest development and business expansion for Cycle & Carriage Singapore. This reflects our drive to stay ahead and be competitive in the automotive industry by responding dynamically to changing market demands.”
As at 11.59am, shares in Jardine C&C are up 6 cents at $36.25.
