RoK firm to expand services to individual long-term car rental in Vietnam
Lotte Rental Co., a major car rental firm in the Republic of Korea (RoK), on July 22 announced that it will enter Vietnam's individual long-term car rental market in the second half of this year.
The company expects its vehicle operation scale to expand to 10,000 units by 2028 as it enters the Business to Customer (B2C) long-term car rental market.
Since establishing its Vietnamese subsidiary in 2007, the company has provided commuter buses and business-purpose short-term and long-term rental car services to Korean and foreign companies in Vietnam.
With branches in Ho Chi Minh City, Hanoi, and Da Nang, Lotte Rental currently operates a fleet of approximately 1,300 vehicles.
It has also signed contracts with major local automobile dealerships to expand its B2C long-term rental car business.
The company plans to promote and market B2C products in cooperation with Kim Lien Group which operates 17 showrooms with products of Mitsubishi, Hyundai Thanh Cong, Toyota, Thaco Kia, and Mazda.
