Cycle & Carriage, a leading automotive group in Southeast Asia, announced on Thursday (July 25) that it has expanded into the car leasing segment to meet the changing market demands and competition.
According to a press release issued from Cycle & Carriage, their new unit, Cycle & Carriage Leasing, will provide various leasing options from daily rentals to long-term car rentals of up to three years, which will also be available to private hire drivers.
The leasing arm will carry brands represented by Cycle & Carriage in Singapore, including Kia Cerato, Kia Stonic, Kia Niro Hybrid and Mitsubishi Attrage. Rentals start at S$57 a day.
In line with the move, Cycle & Carriage Leasing has also formed a fleet partnership with Gojek, as it looks towards leasing and managing car fleets for corporate clients, including key players in the ride-sharing space. The partnership marks Cycle & Carriage’s move into the mobility space by working with an on-demand ride-hailing operator, it added.
Cycle & Carriage Singapore managing director Eric Chan said car leasing is the latest development and business expansion for the group in Singapore.
“This reflects our drive to stay ahead and be competitive in the automotive industry by responding dynamically to changing market demands,” he explained.
Cycle & Carriage Leasing’s fleet will consist mainly of brands represented by Cycle & Carriage Singapore – namely Kia Cerato, Kia Stonic, Kia Niro Hybrid as well as Mitsubishi Attrage. Other car makes meanwhile, will also be available to provide more options.
Image Source: The Straits Times