Car sharing is gaining momentum – Kommersant FM
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The Delimobil service increased its profits almost 2.5 times over the past year. The net income of the largest player in the industry approached 2 billion rubles, and its revenue, having increased by a third, exceeded 20 billion rubles, Vedomosti calculated. In 2023, the volume of the carsharing market reached 44 billion rubles. According to experts, the services managed to survive the crisis and continue to increase volumes. Last February, Delimobil held an IPO, during which it raised more than 4 billion rubles. As the company noted, the funds will be used to develop the business and reduce the debt burden.
Will investors remain interested in the industry? Car sharing attracts investors, but there are also limiting factors, says Vladislav Kochetkov, president of the Finam investment holding: “The cost of cars for sale, both new and used, is growing quite significantly. As a result, loans are expensive, and the demand for car sharing services is increasing. Therefore, the industry will grow, including through penetration into regional centers, beyond the cities with a population of over a million, because for now it is consolidated. The potential is quite large: on the one hand, there will be more cars, on the other, the industry will be more strictly regulated, which will somewhat hold it back.
I think there will be a car sharing boom in the next two years, and at this horizon, shares of companies that are no longer traded and are at the stage of venture deals, pre-IPO, seem to be quite an interesting investment.
The potential for expanding the vehicle fleet, which is again limited by rising prices and the ability to purchase quality vehicles, may be holding back the growth potential of this market. Obviously, we will see mainly Chinese cars in car sharing, and their import has recently become more expensive. Revenue will be able to grow at a high rate, and this will indirectly put pressure on profitability, because after all, the consumer, as a rule, is sensitive to price. And in this case, more expensive cars and higher rental costs have a certain impact on demand.”
There are currently about 20 car rental operators in Russia, including the four largest players. In order to differentiate themselves from competitors, services are more actively purchasing new cars and updating loyalty programs, noted Igor Morzharetto, a partner at the analytical agency Autostat: “Vehicle fleets are becoming more differentiated. Along with cars of budget models, there are quite a lot of interesting things like electric vehicles and models of premium brands. This is also beneficial for companies that supply their cars; this is an inexpensive test drive option for a future consumer who is considering buying a car.
Each company has its own loyalty programs that allow them to make interesting offers for regular customers. A person has the opportunity to choose between cars depending on where he uses the services most often and which company, and, accordingly, has some advantages. For example, if I now find a car from company A, then a trip to the airport will cost me not 500 rubles, but 200 rubles.”
Among other things, short-term car rental services receive significant support from the authorities. Moscow subsidizes the interest rate on car leasing from the budget. In addition, car sharing clients do not pay for parking in the capital.
Everything is clear with us – Telegram channel “Kommersant FM”.
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