Shanghai $10,000 License Plates Drive Car-Hire Company Financing
ByAfter adding the more than $10,000 for a car license plate in Shanghai onto the cost of maintenance, parking and insurance, Debby Yin decided to rent.
“The cost of a car number plate is scary and Shanghai’s taxi drivers are crazy,” said Yin, who’s been living in the city for a year. “Renting a Polo or Skoda is less than 100 yuan a day. I can drive anywhere I want and it’s safe.”
Automobile hire in China is big business and investors are keen to finance its growth. Car Inc., ranked No. 1, raised $300 million selling bonds this week, after attracting orders for 10 times that amount, while eHi Car Services Ltd. was marketing notes before opting not to proceed. Roland Berger Strategy Consultants forecasts the industry, worth about $4.3 billion in 2013, will grow more than 20 percent a year through 2018…
Shanghai $10,000 License Plates Drive Car-Hire Company Financing
