Money

Road opens up for subway riders

By Shen Jingting (China Daily)
Updated: 2010-05-20 07:46

A dozen Beijing subway stations will start offering car rental services this month, giving new travel choices to the millions who ride the rails each day.

China Auto Rental Inc, one of the country's leading rental car providers, said it will establish 13 booths along seven Beijing subway lines by the end of the month.

Locations will include Shuangjing and Shaoyaoju subway stations on Line 10, Tiantongyuan and Dengshikou subway stations on Line 5 and Dazhongsi subway station on Line 13.

Beijing residents, including foreigners, will be able to hire cars after showing their ID cards (or passports), driving licenses and giving their credit card numbers.

"The procedure for renting a car will be similar to checking in at a hotel," said Qian Zhiya, vice-president of China Auto Rental Inc.

"You will not need cash. Just swipe your credit card and authorize us with a certain amount of money and you can drive the car away."

A fleet of about 600 cars in 20 different styles will be available.

The cars will cost between 99 yuan and 638 yuan a day to use, depending on the vehicle type.

A new Chevrolet Lova, for example, will costs 218 yuan a day.

Drivers will need to pay an additional 20 yuan a day for insurance.

Customers will also have to authorize the company to take up to 3,000 yuan from their credit cards as a deposit, Qian said.

Rental drivers will need to pay for their own gas.

Qian said customers will likely need to book at least a day in advance because the service is expected to be very popular.

"The occupancy rate will probably be as high as 80 to 90 percent, which means most of our cars will be running on the streets each day, instead of waiting in the parking lot."

Xiao Liya, an employee with a Fortune 500 company based near Financial Street, said the new booths near subway lines will be useful.

"I know the car rental business has had a presence in the capital for a while now and I have already tried it once this spring," Xiao said.

She and three friends took a road trip to Fangshan district last month and spent 300 yuan on transportation.

"The sum was affordable and, what's more, compared to the bus, renting a car helped us because we could take our time and enjoy the scenery."

There are now more than 4.17 million vehicles in Beijing and 2,000 new cars are hitting the capital's roads each day.

Despite the large number of autos on city streets, residents still complain about having transportation problems.

China Auto Rental Inc was established in Beijing in August 2007. Three renowned international enterprises and venture capital companies, including Legend Capital, co-invested 200 million yuan in the company.