• Source:JND
Add as a preferred

In an increasingly competitive car rental market, almost all service providers (Ola, Uber, Rapido..etc) are focused on catering to the masses, leaving a gap in the luxury segment. The market of luxury car rental is indeed small but it has tremendous potential in metro cities like Bengaluru, Delhi, Chennai, and Mumbai, the market is expanding in other tier II cities as well.

A lot of companies have entered the space and to have a better understanding of the luxury car rental market, we talked to Aaditya Mishra, co-founder of Luxoride, a premium car rental service provider.

In this interview, we delve into the insights behind the Niche, exploring the company’s approach to luxury car rentals, the services they offer, their market reach, and the factors driving growth in this specialized market. 

1.  We have many car rental service providers and they all are dealing in masses, no-big names in the luxury segment - What do you think about why they are not tapping this market?

Ans: Luxury is indeed an exclusive niche. Most car rental companies focus on prioritizing volume over exclusivity. Tapping into the luxury segment requires a different approach—it's not just about providing a rented car; it's about delivering an impeccable experience of commuting to those who prefer the comfort of statement and exclusivity. From maintaining a fleet of high-end vehicles to ensuring impeccable customer service, the investment and attention to detail required are substantial. Many companies are hesitant to take on that level of commitment especially when the demand for luxury is seen as sporadic. At Luxorides, we recognized the gap in the market and the growing aspiration among clients for luxury experiences. By focusing exclusively on luxury, we've been able to cater to an audience that values exclusivity, quality, and the prestige that comes with it. It's a market that may be small in numbers but significant in impact and loyalty."

2.  Give some insight about what are some modes of services that you provide with your company 'Luxoride'

Luxoride offers a range of premium services designed to meet the diverse needs of clients. Our primary service is luxury car rentals, featuring a fleet of high-end vehicles such as Audi, BMW, Mercedes, Jaguar, Land Rover, Bentley, and Rolls Royce. We also provide customized itineraries for unique travel experiences, ensuring each journey is tailored to your preferences. Also, our 24/7 concierge support ensures seamless service, from booking to drop-off. We focus on safety, luxury, and personalized experiences to exceed client expectations, making every journey unforgettable.

3.  When we think of luxury, the names of certain big cities come into our mind. Do you only serve in metro cities?

While we usually serve cities with a high demand for luxury cars, we do not limit our services to these locations. We serve a wide range of locations, including smaller cities and towns, based on our clients' requirements. Our aim is to offer excellent luxury experiences wherever they are needed, ensuring that our clients have access to the same high-quality service and premium car alternatives even when they are not in big cities.

Also Read: Automobile Sales In August: Bajaj Auto Sales Jump 16%, Mahindra And Mahindra Reports 9% Growth

4.  How big is the market for luxury car rentals? Is it growing?

The luxury car rental market is large and growing, driven by rising demand for premium travel experiences among rich people and businesses. The global market is developing as disposable incomes rise, tourism grows and people want high-end transportation. This increase is especially strong in emerging economies like India, where luxury car rentals are becoming increasingly popular for business, leisure, and special occasions. The market is expected to maintain its upward trend.

5. How do you determine the right mix of vehicle categories (convertibles, sedans, SUVs, limousines) for your customers?

Understanding our client’s different needs and preferences is essential for determining the best mix of car types. We analyze customer information, market trends and demand patterns to create a fleet that is appropriate for a variety of purposes, including business travel, corporate commute, enjoyment and special events. Convertibles give a unique driving experience, sedans provide elegance and comfort on a daily basis, SUVs appeal to individuals who want size and adaptability and limousines are ideal for special events. Our mission is to help each customer choose the best car for their unique needs.

6. What are some of the most popular luxury car models among your customers, and why do you think they prefer them?

Ans:  Luxury car models that often stand out do so because of their brand prestige and exceptional performance. Each brand has a unique appeal, drawing preferences from clients based on their distinctive qualities.

For example, the Mercedes-Benz S-Class is known for its sophisticated interiors, advanced technology that enhances comfort, and smooth ride, making it a popular choice among executives and high-profile clients seeking a luxurious and comfortable experience. Meanwhile, the BMW 7 Series combines luxury with sporty performance, appealing to customers who crave the adrenaline of speed while enjoying the comfort and engineering excellence that BMW is known for.

The Range Rover offers a blend of luxury and adventure, particularly appealing to those who want to command the road in both urban settings and rugged terrains, making it a versatile and popular choice. On the other hand, the Audi A8 is appreciated for its refined design, innovative technology, and smooth ride. It’s favored by those who prefer understated luxury with cutting-edge features.

Also Read: Gala Precision IPO Fully Subscribed On Day 1; Know Price Band, Issue Size And Other Details