Survey Results

Ohk, so here are the ‘quick and dirty’ results of the survey . A total of 100 ppl responded, primarily from the MBA and the creative community (IIML Alumni and Creativegarh yahoo groups.. Thank you everybody)

The results threw up some interesting pointers:

• Demand is definitely there. Just at a different price point
• People want it more for recreational purposes rather than business
• And they want it cheap, preferably less than 1000 bucks a day.

Also, 89% and 98% of the respondents have a credit card and passport. The reason i had asked this was to check the feasibility of using these documents as identity verifiers(I assume ppl cant default on their passports )

Compared to what is currently available in the market (Rs 5400 for 2 days for a Santro from carzonrent.com), i guess it will be quite a while before some ‘adventurous entreprenuer’ makes ‘self-drives’ affordable…i say this because, though starting a ‘self drive rental’ might seem like a good idea, execution is going to be excrutiaing.

Probably explains why there are so few players in India (despite many ppl having such brainwaves as me …yes, quite a few wrote in saying they had thought of doing the same thing )

The answer to the last question has an intersting insight. About 45% of car owners are open to the idea of renting out their cars for earning an additional income. Had thought of starting a ‘social networking exchange’ but somebody told me that “You cant rent out your personal car for commercial use“..so from a legal point of view, that idea is also blown…:(

However, it might not hurt to ask your friend if they would be willing to ‘rent’ their barely/rarely used car for the weekend , ifyou know what i mean

Results:

Q) Would you like to rent a car with a self drive option ? (i.e. you drive the car yourself)
Ans:
Yes – 93%
No – 7%

Q)What activities would you use it for ?
Ans:
Business Trip 29.0%
Personal Trip 70.0%
Weekend ‘Out of town trip’ 84.0%
Sightseeing 59.0%
Others 14.0%

Q)How long would you want to rent the car for ?
Ans:
1 day 17.0%
1 – 3 days 76.0%
1 week 18.0%
2 weeks 2.0%
Only on weekends 22.0%
More than a month 6.0%

Q)How much would you be willing to pay for it per day ?
Ans:
Less than Rs 500 35.0%
Rs 500 to Rs 1000 56.0%
Rs 1000 to Rs 1500 11.0%
More than Rs 1500 5.0%

Q)What models of cars would you prefer to rent ?
Ans: Basically, junta wants every possible model of car available (including a cadillac)

Q)Do you have a credit card ?
Ans:
Yes 89.9%
No 10.1%

Q) Do you have a passport?
Ans:
Yes 98%
No 2%

Q) If you have a car which you dont use regularly, would you be open to renting it out to earn additional income ?
Ans:

Yes – 18.4%
No – 54.1%
Maybe – 27.6%